Csi Wealth Management Essentials Pdf Download
Sep 01, 2016 Who's taken the Wealth Management Essentials Course (CSI)? Who's taken the Wealth Management Essentials Course (CSI)? I'm just confused on what is tested on Exam. Money Management www. This general improvement in the investment climate was reinforced by passage of the 2. Csi Wealth Management Essentials Pdf Converter FRF. Windows Xp Pro Sp3 Ultra Lite Ita Download Itunes. The Wealth Management Essentials ® Course (WME ®), as offered by the Canadian Securities Institute (CSI) focuses on two critical elements of wealth management - Financial planning and Investment management.
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I was recently hired as a Senior FA for CIBC Imperial Service. One requirement of being an IIROC liscenced RR is to have the WMO completed within 30 months of being hired. I completed my CPH last month 2 weeks after being hired, completed my CSC last summer and my IFIC the year before that. I passed all of these with relative ease, ie IFIC in 1 week, CSC in two months, CPH in 2 weeks. I was thinking about getting the WMO out of the way quickly before things get to stressful at work. The few people that I have asked said it was hard as hell, but they are NOT brightest of the bunch. My question to those of you that have completed this are:Was the material dry and boring like the CPH?
Was the material hard to grasp?
Was the exam difficult in caprison to the other 3?
Would you suggest that I get it out of the way quickly?
How much has it helped you in your current role as a RR?
What should I expect?
Any advice in regards to the course.
Thanks in advance.Questions
1. Ernie contributed the following amounts to a spousal RRSP to split income.
2008 $5,000 (Royal Bank)
2009 $6,000 (Royal Bank)
2010 $4,000 (CIBC)
2011 $3,000 (CIBC)
In 2012, his spouse withdrew $11,000 from the Royal Bank. The following consequences will arise in 2012 ?
a) Ernie will include $11,000 in his income.
b) Ernie’s spouse will include $11,000 in her income.
c) Ernie will include $3,000 in his income and his spouse will include $8,000 in her income.
d) Ernie will include $7,000 in his income and his spouse will include $4,000 in her income.
2. Rose invests $30,000 into a GMWB plan. Assume the minimum death benefit guarantee. She makes the first annual withdrawal of $1,500 in one year’s time, when the market value of the plan is $40,000. What is the new death benefit guarantee?
a) $21,656
b) $21,357
c) $28,500
d) $28,875
Midi file converter. Answers
1. d) Ernie will include $7,000 in his income and his spouse will include $4,000 in her income.
Any RRSP contributions made in the year of withdrawal and the two previous calendar years, are taxed in the hands of the contributor (Ernie). The remaining proceeds are included in the other spouse’s income and taxed at the other spouse’s rate. For 2012, 2011 and 2010 amounts contributed to the RRSP were $7,000 [$3,000 + $4,000]. These amounts are attributed back to Ernie and taxed in his hands. The remaining $4,000 is taxed in Ernie’s spouse’s hands. With regards to the funds being withdrawn from the RRSPs, CRA uses the “Last-In-First-Out” assumption; the last funds contributed are deemed to be the first funds withdrawn. The fact that the RRSP money withdrawn was from the Royal Bank RRSPs is irrelevant to CRA. CRA deems that the RRSP money withdrawn is $3,000 from the CIBC (2011), $4,000 from the CIBC (2010) and $4,000 from the Royal Bank (2009).
Ref: Chapter 8
2. a) $21,656
Csi Wealth Management
The proportionate reduction to the death benefit guarantee is calculated as:
Minimum Guarantee: $22,500 [$30,000 × 75%]
Guarantee Reduction = G × W / MV
where
G = Guarantee prior to transaction
W = Withdrawal Amount
MV = Market Value prior to withdrawal
= $22,500 × $1,500/ $40,000
= $22,500 × 0.0375
= $843.75
Csi Essentials
New Death Benefit Guarantee: $21,656 [$22,500 – $843.75]
Ref: Chapter 10
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