Mohammed and Parm Are Recently Married and Wish to Use

question 36

Multiple Choice

Mohammed and Parm are recently married and wish to use the Home Buyers' Plan (HBP) to make their down payment on their first home. If they each have $50,000 in their RRSPs, how much can they access for their down payment through the HBP?

• A)$100 000
• B)$40 000
• C)$25 000
• D)$50 000

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Definitions:

Government Programs

Initiatives sponsored by governmental bodies designed to address social, economic, health, or environmental issues, by providing services, funding, or regulations.

Equal Rights Amendment

Amendment to guarantee equal rights for women, introduced in 1923 butnot passed by Congress until 1972; it failed to be ratified by the states.

Phyllis Schlafly

A conservative American activist known for her opposition to the women's liberation movement and her successful campaign against the ratification of the Equal Rights Amendment.

Roe V. Wade

A landmark 1973 Supreme Court case in the United States that legalized abortion nationwide, establishing a woman's legal right to an abortion.