If You Have Maximized Your RRSP Contributions,have Positive Cash Flow

question 80

Multiple Choice

If you have maximized your RRSP contributions,have positive cash flow and wish to maximize the transfer of wealth to your beneficiaries,which would be the most efficient choice of insurance?

• A)Universal life with level term insurance
• B)Term to 100
• C)Whole life
• D)Universal Life with YRT

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Definitions:

Periodic Financial Statements

Reports that are issued at regular intervals, such as monthly, quarterly, or annually, summarizing a company's financial position.

Accounting Period

A specific period of time used for financial reporting purposes, typically a quarter or year.

Reversing Entries

Entries made in accounting to reverse or cancel out adjusting entries made at the end of a reporting period, often used to simplify recordkeeping.