Numbers & Formulas

Question 1

Max CPP/QPP death benefit

Answer 1

$2,500

Question 2

How many hours and what % of income loss must be met to qualify for EI sickness benefits?

Answer 2

600 hours in past 52 weeks
And at least 40% of income
As a result of the disability

Question 3

What occupations match the following insurance job classifications:
4A
3A
2A
A
B

Answer 3

4A- professionals & senior execs
3A- administrative employees
2A- supervisors in low risk environments
A- skilled manual labour with few workplace hazards
B- manual labour in hazardous environments

Question 4

CI claims must be submitted within ____ days of diagnosis
And
Medical proof submitted within ____ days

Answer 4

30
And
90

Question 5

Assuris Protection for annuity
1- accumulation mode
2- payment mode

Answer 5

1- accumulation- 100% of contract value up to $100K

2- greater of
a- 100% of benefit, max 2K month
b- 85% of promised benefit

Question 6

PV

Answer 6

= FV/ (1+interest rate)n

n- # of compounding periods

Question 7

FV

Answer 7

= PV (1+ interest rate)n

n- # of compounding periods

Question 8

Market Capitalization formula

Answer 8

Number of outstanding shares X share price