Personal Finance/General Flashcards
1
Q
Maximum purchase price of a home CMHC will insure?
A
1mil
2
Q
Can CMHC insurance be paid upfront? Can it be amortized?
A
Yes and yes
3
Q
What does a no-load fund suggest about the planner’s compensation?
A
They could be getting commission
4
Q
At what government level are trusts and loans regulated?
A
Provincial and federal
5
Q
How long after you file for bankruptcy do you need to notify FP Canada?
A
15 days
6
Q
Minimum age to get a reverse mortgage?
A
55
7
Q
Maximum equity that can be used for reverse mortgage?
A
55%
8
Q
What should C/Y be on mortgages and bonds?
A
TWO!!!!!
9
Q
Max TDS/GDS?
A
TDS 44%
GDS 39%
