A client refuses to provide details about debt balances, tax returns, and monthly expenses but asks the planner to confirm whether retirement at age 55 is achievable. What should the planner do?

• A. Explain that the conclusion will be limited or unreliable without the missing information.
• B. Proceed only with investment recommendations.
• C. Estimate the figures secretly from the client's age and income.
• D. Use generic assumptions and present the plan as reliable.

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A retiree holds most of her investments in interest-bearing GICs inside a non-registered account while her TFSA is invested in cash. She has unused TFSA room and wants to improve after-tax efficiency without increasing total portfolio risk materially. What should the planner consider?

• A. Holding more interest-bearing assets inside the TFS
• B. Borrowing to invest in the non-registered account.
• C. Withdrawing RRIF minimums and gifting them immediately.
• D. Moving all assets into speculative equities.

Kendrick, age 55, owns a successful small business, ZXC Inc., valued at $800,000. Kendrick has extensive savings outside of the business and would like to pass the company onto his son at some point in the future.
Kendrick expects the business to increase in value $25,000 per year. If Kendrick decides to use an estate freeze to reduce the amount of taxes he will be required to pay, his financial planner should recommend that he implement the estate freeze at which point in relation to gifting the business to his son?

• A. Immediately.
• B. One month prior to gifting the company.
• C. At the same time as gifting the company.
• D. To take effect at the time of his passing.

Carla, a financial planner, is meeting with a long-standing client, Jonathan. Jonathan informs Carla that he is upset and disappointed with the negative returns experienced with his investment portfolio. After acknowledging Jonathan's concerns, what should Carla's first step be in addressing his complaint?

• A. Offer alternative investment options in line with Jonathan's risk tolerance.
• B. Remind Jonathan that investing is a long-term process and losses will likely be recovered.
• C. Revisit Jonathan's goals, objectives and risk tolerance with him.
• D. Remind Jonathan about the risks associated with investing, as well as the possible volatility and impact on investment returns.

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Which assets will flow through an estate?

• A. Business assets covered by a buy-sell agreement.
• B. Assets held in an inter vivos trust.
• C. Assets which the owners are registered as tenancy in common.
• D. Assets which the owners are registered as joint tenants with rights of survivorship.

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