Chapter 22 Other Managed Products KT

Question 1

Also known as the owner of a segregated fund contract.

Answer 1

contract holder

Question 2

A type of investment that holds investments in the operating assets of a company.

Answer 2

income trust

Question 3

A contract provision which allows the segregated fund contract holder to lock in the current market value of the fund and set a new maturity date 10 years in the future.

Answer 3

reset

Question 4

Exists in theory and is representative of something else.

Answer 4

notional units

Question 5

A fund that has the unique feature of guaranteeing at least a minimum percentage of the investor’s payments into the fund will be returned when the fund matures.

Answer 5

segregated fund

Question 6

A type of mutual fund that has the flexibility to buy back its outstanding shares periodically.

Answer 6

interval funds

Question 7

The amount a segregated fund policy pays to beneficiary or estate when market value of the segregated fund is lower than guaranteed amount on death of the annuitant.

Answer 7

death benefits

Question 8

Person on whose life the maturity and death benefit guarantees are based.

Answer 8

annuitant

Question 9

Ensures that federally regulated insurance companies are adequately capitalized.

Answer 9

Office of the Superintendent of Financial Institutions

Question 10

The minimum dollar value of the contract after the guarantee period, also known as the annuity benefit.

Answer 10

maturity guarantees

Question 11

A provincial fee charged for authenticating a will.

Answer 11

probate

Question 12

Has a mandate to provide protection to life insurance contract holders against the insolvency of a member company.

Answer 12

Assuris