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Angel was diagnosed with multiple sclerosis in her early forties. Now at 57, her condition has worsened with no possibility of recovery to the point that she is no longer able to work. Before she left her teaching position, her employer urged her to fill out a Canada Pension Plan (CPP) disability insurance application form to see if she can start receiving benefits. Which of the following statement about CPP is TRUE?

Angel was diagnosed with multiple sclerosis in her early forties. Now at 57, her condition has worsened with no possibility of recovery to the point that she is no longer able to work. Before she left her teaching position, her employer urged her to fill out a Canada Pension Plan (CPP) disability insurance application form to see if she can start receiving benefits. Which of the following statement about CPP is TRUE?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Angel was diagnosed with multiple sclerosis in her early forties. Now at 57, her condition has worsened with no possibility of recovery to the point that she is no longer able to work. Before she left her teaching position, her employer urged her to fill out a Canada Pension Plan (CPP) disability insurance application form to see if she can start receiving benefits. Which of the following statement about CPP is TRUE? Select one correct answer from the list 1 The benefits are payable until Angel recovers. 2 Angel paid 100% of the CPP contributions. 3. 4 The disability benefits will commence 3 months after her claim is approved. At age 65 Angel's disability benefit will automatically be converted into a retirement benefit. O O O O
Transcribed Image Text:Angel was diagnosed with multiple sclerosis in her early forties. Now at 57, her condition has worsened with no possibility of recovery to the point that she is no longer able to work. Before she left her teaching position, her employer urged her to fill out a Canada Pension Plan (CPP) disability insurance application form to see if she can start receiving benefits. Which of the following statement about CPP is TRUE? Select one correct answer from the list 1 The benefits are payable until Angel recovers. 2 Angel paid 100% of the CPP contributions. 3. 4 The disability benefits will commence 3 months after her claim is approved. At age 65 Angel's disability benefit will automatically be converted into a retirement benefit. O O O O
Jasmine and Kyle a young married couple, both work in the financial services industry. Each of them is a member of a group plan that offers benefits to employees and their spouses. Jasmine's plan has a $100 annual deductible on dental claims and a $1,000 annual maximum while Kyle's plan has a $50 annual deductible and a $1,500 annual maximum. Jasmine needs to have 4 root canals for a total cost of $3,000. What amount must Jasmine submit to Kyle's plan? Select one correct answer from the list 1. $1.500 2. $2.000 3. $2 900 $3 000
Transcribed Image Text:Jasmine and Kyle a young married couple, both work in the financial services industry. Each of them is a member of a group plan that offers benefits to employees and their spouses. Jasmine's plan has a $100 annual deductible on dental claims and a $1,000 annual maximum while Kyle's plan has a $50 annual deductible and a $1,500 annual maximum. Jasmine needs to have 4 root canals for a total cost of $3,000. What amount must Jasmine submit to Kyle's plan? Select one correct answer from the list 1. $1.500 2. $2.000 3. $2 900 $3 000
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