Eleanora receives a $500 eligible Canadian dividend from her mutual fund. Her federal marginal tax rate for the year is 29%. Assuming the enhanced gross-up of 38% and a federal dividend tax credit of 15.02%, how much federal tax will she pay on her dividend?

• A.$189.16
• B.$115.40
• C.$69.90
• D.$96.46

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Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?

• A.ETFs have lower MERs compared to mutual funds.
• B.Investors may sell their ETFs in the stock market or redeem them through the Fund at the NAVPU of the day.
• C.All ETFs are actively managed.
• D.Usually the market price of an ETF is the net asset value per unit (NAVPU) of the Fund on that day.

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Which among the following BEST describes a company's income statement?

• A.It shows the amount of profit that is reinvested in the company in the form of retained earnings.
• B.It provides a snapshot of a company's financial position at a specific point in time
• C.It shows the earnings and expenses of a business over a period of time.
• D.It shows the amount of capital contributed to the company by its shareholders or owners.

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Darryl has a diversified investment portfolio of mutual funds in a non-registered account with Investwell Mutual Funds, a mutual fund dealer. Darryl's diversified portfolio is composed of 3 mutual funds. Each mutual fund is currently worth about $100,000. The ABC Canadian Equity Fund has a total return of 6%, the DEF Bond Fund has a total return of 8% and GHI Global Equity Fund has a total return of 10%. Darryl wants to make an in-kind contribution to his registered retirement savings plan (RRSP) account. He has unused RRSP contribution room of $60,000.
From a tax-efficient viewpoint, which funds contribute in-kind to his RRSP account?

• A.Move the DEF Bond Fund to the RRSP.
• B.Move $20,000 from each of the three funds to the RRSP.
• C.Move the ABC Canadian Equity Fund to the RRSP.
• D.Move the GHI Global Equity Fund to the RRSP

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Which of the following best describes implied needs of your clients?

• A.They are statements made by clients expressing the desire for lower commissions.
• B.They are needs reflected by statements made by clients regarding problems and dissatisfactions.
• C.They are statements made by you showing readiness to solve a client's problem.
• D.They are statements of wants and needs made by clients.

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