Before the End of the Year in Which You Have

question 22

Multiple Choice

Before the end of the year in which you have your 71st birthday

• A)you must transfer your RRSP assets to a RRIF.
• B)the assets inside your RRSP must be converted to cash and placed in a RRIF.
• C)you must pay tax on the profits sheltered in your RRSP.
• D)you must start annual withdrawals of 18 percent of the value of your RRIF.

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Definitions:

Traumatic Event

An event that is emotionally disturbing or distressing, often leading to lasting psychological impact and stress disorders.

Episodic Memory

The memory of temporally related events, or the time and place of an experience.

Short-Term Memory

A limited capacity memory system that temporarily holds information for processing.

Storage Span

Often related to memory, it refers to the amount of information or number of items that can be held in short-term or working memory at one time.