Last year at age 70, Gregory opened a registered retirement income fund (RRIF). Recently, Gregory unexpectedly received a large cash gift and presently does not need to depend on any payments from his RRIF.
He contacts his financial advisor Eric for guidance.
Which of the following statements by his financial advisor would be CORRECT?

• A.Periodic contributions to a RRIF are permitted until Gregory reaches the age of 71.
• B.Withdrawals become mandatory within the first year of the plan being started.
• C.Gregory's account will be subjected to no maximum withdrawal limit but to an annual minimum withdrawal.
• D.Gregory must have attained the minimum age of 71 to open a RRIF.

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Gershon is a Dealing Representative and he opens a new account for his client, Isaac. Gershon collects the necessary information from Isaac in order to designate the Trusted Contact Person (TCP) for Isaac's account.
Which of the following statements about Isaac's TCP is CORRECT?

• A.The TCP is an alternative authority on Isaac's account who has the power to place a temporary hold on Isaac's account to disallow trading.
• B.The TCP is the person who is designated with authority to direct financial dealings for Isaac's account and make financial decisions.
• C.The TCP is an alternative to a Power of Attorney (PQA) and has the authority to make changes to Isaac's account and direct trading.
• D.The TCP is the person who Gershon can speak to if he becomes concerned about Isaac's mental capacity to make financial decisions.

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

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

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Daisy is a Dealing Representative registered in the province of Saskatchewan only. Daisy's client, Orville, a resident of Lloydminster, Saskatchewan is a retiree who presently has a $1,000,000 with her dealer, Easy Ride Financial. Orville is now planning to move to Vegreville, Alberta next month. Easy Ride Financial is registered in Alberta and Saskatchewan. Neither Easy Ride Financial nor Daisy have any clients who are resident in Alberta.
Which of the following should Daisy do if she wants to continue to service Orville's account?

• A.Request approval from the Mutual Fund Dealers Association of Canada to be eligible to be a registered Dealing Representative in Alberta
• B.Daisy could seek permission from her dealer to request a client mobility exemption with the Alberta Securities Commission.
• C.Daisy will need to forfeit her registration in Saskatchewan if she wants to be registered in Alberta to keep Orville as a client.
• D.Register with a different mutual fund dealer that is registered in Alberta so she can keep Orville as a client.

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Which of the following actions by the federal government or the Bank of Canada is an example of monetary policy?

• A.increasing taxes
• B.increasing transfer payments to particular provinces
• C.increasing the cost of borrowing
• D.increasing spending on road construction and maintenance

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