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Understanding Retirement Income Sources: Annuities, Asset Allocation, and Beneficiary Transfers

This chapter covers essential multiple-choice questions related to retirement income sources, including reverse mortgages, locked-in RRSPs, Old Age Security (OAS), and employer pensions. Key concepts include types of annuities, optimal asset allocation for retirees, and methods of transferring assets to beneficiaries. Sample questions examine factors influencing retirement income management, such as inflation-indexing of annuities and estate distribution upon intestacy. This resource aids in exploring retirement planning and financial decision-making.

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Understanding Retirement Income Sources: Annuities, Asset Allocation, and Beneficiary Transfers

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  1. Chapter 18 Multiple-Choice QuestionsandAnswers

  2. Reverse mortgage on the home Locked-in RRSP OAS (Old Age Security) Employer pension None of the above 1. Which of the following is not a source of retirement income? The answer is (e).

  3. Fully indexed (to some inflation measure) annuity Straight life annuity Term-certain annuity Life with guaranteed term annuity None of the above 2. To meet the demand for different patterns of retirement income and risk management, the financial markets have developed many types of annuities. Which of the following has not been developed? The answer is (a).

  4. Gender of the retiree Initial wealth Annual consumption Rate of return on investment All of the above affect optimal asset allocation 3. Which of the following will not affect the optimal asset allocation of investment funds for retirees? The answer is (e).

  5. Selling of properties to your beneficiary at fair market value Gifts to the beneficiaries during your life time Assets transferred directly through a bequest in a will Assets transferred according to provincial law if you die intestate Assets transferred through “inter vivos” 4. Which of the following is not a way to transfer assets to your beneficiaries? The answer is (a).

  6. all to the brothers and sisters all to the next of kin all to the government half to the parents and half to the next of kin all to the charitable organizations approved by the government 5. If one dies intestate, without any surviving spouse or children, the estate will go ________. The answer is (b).

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