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Book Value review

A visually engaging infographic illustrating the concepts of book value and adjusted cost base in finance, featuring elements like charts, graphs, and calculators.

Book Value Mastery Quiz

Test your knowledge about book value and adjusted cost bases in financial accounts with our engaging quiz! This quiz is designed for finance enthusiasts looking to deepen their understanding.

11 Thought-Provoking Questions
Multiple Choice, Checkboxes, and Text Responses
Ideal for professionals and students alike

11 Questions3 MinutesCreated by CalculatingAtlas512

What is Adjusted Cost Base /Average Cost Price?

What is Book Value?

How to you calculate both?

What type of accounts is it necessary to report book value correctly for CRA?

RRSP/RRIF

Non Registered

TFSA

None of the above

Should all accounts have correct book value regardless of account type?

True

False

Where are two places to find IGI fund book value?

Where are two places to find Third Party fund book value?

How do we verify Book value on Third party? In other words, if an external transfer-in occurs, how do we know the book value is correct? What are some ways we can verify?

Statement from relinquishing institution showing book value prior to transfer. (It should be recent)

Verification from Client directly in form of letter (IGSI)

Verification from Client and/or Consultant (Nominee/IIROC)

All of the Above

I'm not sure

What type of tax receipt are dependent on correct book value reporting?

Contribution receipt

T5008

T4A

60L/60J/60LV

What transactions affect book value by triggering a T5008?

Buys

Switches

Transfers

Fees

Sells

All of the Above

If a request is received to adjust the book value on a Registered account (including TFSA) is this NIGO or do we adjust it?

Yes, always

Maybe

Depending on situation

No, Hard NIGO

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