Juniper, 69, suffered a stroke a few weeks ago which left her partially paralyzed and has severely reduced her mobility. Since the stroke, she is unable to leave her home. She benefits from regular visits from nurses, massage therapists, and housekeepers. Juniper wants to claim the services on her long-term care (LTC) insurance policy and would like to know how the claim will be processed and paid.
Which of the following answers is CORRECT?

• A.The insurer will pay the nurse and the massage therapist directly and Juniper will have to pay thehousekeeper out of pocket.
• B.Juniper will have to pay for all of the services first and then submit the receipts for all qualifying expenses to her insurer for reimbursement under the home care clause of her LTC policy.
• C.The insurer will pay for all of the services directly.
• D.Juniper will have to pay for all the services, but she could only claim for reimbursement of the costs of the nursing care, under the home care clause of her LTC policy.

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Konrad is the owner of CrossBoy, a manufacturing company employing over 50 employees. Konrad recently took out a $500,000 loan to expand his business. Terrence works as a sales manager and is responsible for roughly 40% of the company's revenue. Konrad recognizes the importance of Terrence's contributions to the success of the company. Therefore, in addition to a sizeable basesalary, CrossBoy also pays Terrence regular performance-based bonuses. Konrad understands that if Terrence dies prematurely, CrossBoy would suffer financially. What should he do to protect his company?

• A.Offer Terrence group life insurance plan.
• B.Purchase business-owned buy-agreement with Terrence.
• C.Purchase key person life insurance on Terrence.
• D.Purchase criss-cross insurance with Terrence.

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Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in the company's group plan. He knows that his contributions into the plan are not tax-deductible, and he is not taxed on the funds when he makes a withdrawal.
What type of plan does Mohammed have with his employer?

• A.A group registered retirement savings plan (GRRSP)
• B.A deferred profit sharing plan (DPSP)
• C.A group tax-free savings account (TFSA)
• D.A group registered retirement income fund (RRIF)

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Sasha is an employee at PranaTech. The company offers all employees a pension plan. PranaTech must contribute into the plan, but employee contributions are not mandatory. Sasha chooses where his funds will be invested.

• A.Defined contribution pension plan.
• B.Defined benefit pension plan.
• C.Deferred profit sharing plan.
• D.Group registered retirement savings plan.

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Luisa owns a balanced segregated fund currently valued at $50,000. Her mother Linda is the current revocable beneficiary of the policy. However, Luisa has been dating Benjamin for a year and would like to name him as the new beneficiary of her policy.
Which of the following statements about modifying the beneficiary designation is CORRECT?

• A.The change will take effect on the date that the insurer receives the change of beneficiary form.
• B.Since Linda is Luisa's named beneficiary, she would need to consent to the change.
• C.Luisa can modify the designation anytime.
• D.Luisa can call the insurer's head office to notify them of the change.

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