Alec and Svetlana are a married couple in their late 40s with two children in university. Together they have the following accounts: Alec's group RRSP with MNO Insurance Co. holding index funds worth $623,000. Alec's TFSA at XYZ Brokerage holding cryptocurrency assets worth $47,000. Svetlana's RRSP at XYZ Brokerage holding mutual funds worth $529,000. Svetlana's TFSA at XYZ Brokerage holding mutual funds worth $267,000. Svetlana's non-registered investment account at XZY Brokerage holding stocks worth $1,217,000 which she inherited from her grandmother. A family RESP at XYZ Brokerage holding mutual funds worth $117,000. Alec is the subscriber. A joint chequing account at ABC Bank with $6,000 in cash. A joint savings account at ABC Bank with $11,000 in cash. What amount of combined CIPF coverage will Alec and Svetlana be eligible for if XYZ Brokerage fails today? Question 1 options: $1,913,000. $1,960,000. $2,130,000.
Alec and Svetlana are a married couple in their late 40s with two children in university. Together they have the following accounts: Alec's group RRSP with MNO Insurance Co. holding index funds worth $623,000. Alec's TFSA at XYZ Brokerage holding cryptocurrency assets worth $47,000. Svetlana's RRSP at XYZ Brokerage holding mutual funds worth $529,000. Svetlana's TFSA at XYZ Brokerage holding mutual funds worth $267,000. Svetlana's non-registered investment account at XZY Brokerage holding stocks worth $1,217,000 which she inherited from her grandmother. A family RESP at XYZ Brokerage holding mutual funds worth $117,000. Alec is the subscriber. A joint chequing account at ABC Bank with $6,000 in cash. A joint savings account at ABC Bank with $11,000 in cash. What amount of combined CIPF coverage will Alec and Svetlana be eligible for if XYZ Brokerage fails today? Question 1 options: $1,913,000. $1,960,000. $2,130,000.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Alec and Svetlana are a married couple in their late 40s with two children in university. Together they have the
following accounts: Alec's group RRSP with MNO Insurance Co. holding index funds worth $623,000. Alec's
TFSA at XYZ Brokerage holding cryptocurrency assets worth $47,000. Svetlana's RRSP at XYZ Brokerage holding
mutual funds worth $529,000. Svetlana's TFSA at XYZ Brokerage holding mutual funds worth $267,000.
Svetlana's non-registered investment account at XZY Brokerage holding stocks worth $1,217,000 which she
inherited from her grandmother. A family RESP at XYZ Brokerage holding mutual funds worth $117,000. Alec is
the subscriber. A joint chequing account at ABC Bank with $6,000 in cash. A joint savings account at ABC Bank
with $11,000 in cash. What amount of combined CIPF coverage will Alec and Svetlana be eligible for if XYZ
Brokerage fails today? Question 1 options: $1,913,000. $1,960,000. $2,130,000.
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