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Registered Education Savings Plans - Sample Questions

Posted by David Gobeil on

This question on RESPs is about as mathematical as you can get. We like financial calculators. On August 4, 2018, Matthew will be 5 years of age. By the end of 2029, his father, Gerry, would like to accumulate $50,000 in an RESP for Matthew. At the end of each year, Gerry will contribute to the RESP and he expects that the investments within the RESP will earn 8%. Mathew will not be eligible for the Canada Learning Bonds nor the enhanced CESG rates. Gerry's annual contribution would be: (A) $2,096 (B)  $2,196 (C) $2,296 (D) $2,396 This question on...

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Registered Education Savings Plans - Knowledge Requirements

Posted by David Gobeil on

According to Appendix B of the CFP® Professional Competency Profile, the level of knowledge is Expert for all aspects of RESPs, except Canada Learning Bonds. The PFP® Professional Competency Profile does not specify a level of knowledge for RESPs. The following table includes our summary of the knowledge requirements for RESPs.                                                                             Knowledge Requirements   Purpose of the plan An RESP is an education savings trust that...

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