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Question #8 – Registered Plans (RESP)
September 16, 2019
In order to receive CESG grant in one’s RESP once a beneficiary is 16 and 17 years old there are additional conditions that must be met. Of the fol...
Question #7 - Insurance/Annuity
September 09, 2019
Muriel (aged 65) and Arma (aged 67) are married and recently retired. They want to purchase an annuity with non-registered money. Which of the foll...
Question #6 – Law
September 02, 2019
Harry is 65 years old and is recently retired. He would like to purchase a cottage to enjoy during retirement. He expects to leave his cottage to h...
Question #5 – RSP/DB Plan
August 26, 2019
Jodi is part of a defined benefit pension plan with a future benefit that is 2% of her salary for every year worked. After 30 years of service she ...
Question #4 – Behavioural Finance
August 19, 2019
Kile has decided he wants to spend less money on goods and services that are not essential. As he has traditionally not adhered to a budget and spe...
Question #3 – Credit and Debt
August 12, 2019
Tom has rented an apartment for close to 5 years and now wants to buy a condo on his own. He is 30 years old and makes an annual gross income of $7...
Question #2 – Tax (stand-by charge)
August 05, 2019
Michelle is hired as a regional manager for a large pharmaceutical company where she manages a group of 20 individuals. She does not make any commi...
Question #1 – Tax (capital gains)
August 01, 2019
Jonathan disposes of a number of belongings during the calendar year. He sold a rare manuscript for $1,000 (the original cost was $1,200). He also ...
July 29, 2019
Beginning in August, Monkey Credits Inc. will publish one detailed practice question each week. A total of 18 questions will be published and will ...