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What type of trust is formed when one party is unjustly enriched at the expense of another person?
Correct Answer: A 🗳️
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What factors are used for calculating contributions to an individual pension plan?
Correct Answer: D 🗳️
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What is the primary difference between a Life Income Fund (LIF) and a Registered Retirement Income Fund (RRIF)?
Correct Answer: C 🗳️
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Mr. and Mrs. Morrone are retired with two adult children, Joseph and Christine. The Morrones appointed Joseph as their power of attorney several years earlier but they have recently become concerned about him making decisions, particularly on some contentious family property. How can the Morrones address their concern?
Correct Answer: A 🗳️
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Bonny is looking to lease a vehicle. Here is the information given to her by the salesperson:
Net capitalized value
$25,000
Monthly payments
$300
Term of the lease
48 months
Residual value
$13,450
Sales taxes on residual value
$1,749
Down payment (including taxes)
$4,500
What is the total cost of leasing?
Correct Answer: D 🗳️
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