Class B Shares
Class B Shares Knowledge Quiz
Test your understanding of Class B Shares with this engaging quiz! Discover essential information about purchasing, selling, and managing Class B Shares while having fun. Perfect for members and potential investors looking to enhance their knowledge!
- 17 multiple-choice questions
- Learn about ownership, dividends, and selling procedures
- Measure your grasp on Class B Shares
We have five different Class B Shares series available for members to purchase.
True
False
If a member has Class B Shares and wants to sell them before the anniversary date, the member will receive prorated interest to date of sale.
True
False
Class B Shares can be purchased in non-registered, TFSA, RRSP and LIRA products.
True
False
Class B Shares earn interest.
True
False
At age 71, Class B Shares held in an RRSP product must be sold in order to convert the RSP to RIF.
True
False
When a member who holds Class B Shares passes away, the Class B Shares can be sold without finding a buyer first in order to close the Estate account.
True
False
How much is 1 Class B Share worth?
$1
$5
$100
$1000
If a member purchases Class B Shares in the middle of the term, how much would they receive as a return?
Nothing, they need to wait until the anniversary date to start earning any dividends
It's not possible to buy Class B Shares in the middle of the term
The member will receive prorated dividends on the anniversary date
The member will receive the same amount as other Class B Shares holding the same series
Class B Shares are not insurable deposits safeguarded by FSRA through DIRF.
True
False
Shares can only be held jointly with a spouse.
True
False
What happens if a member wishes to sell their Class B Shares in the middle of the term?
There must be a buyer prior to selling the Class B Shares, unless the member is deceased
We can sell them immediately and transfer the funds as requested.
It's not possible to sell in the middle of a term
The get 50% of the share immediately and have to wait until there is a buyer to get the other 50%
A member can use an existing term deposit to purchase Class B Shares without an interest penalty.
True
False
Dividends are posted immediately on the anniversary date.
True
False
What is the minimum amount of Class B Shares that can be purchased?
$500
$1000
$5000
There is no minimum
If a member purchases Class B Shares in a TFSA or RRSP product, a new contract will be opened and the member will need to sign documentation that is mailed to them.
True
False
What are the next steps if someone wants to purchase Class B Shares?
Give them Julie's contact info
Email Julie Pfliger with the details and create an engagement on DOXIM
Email Judy
Email Amy
What is the proposed dividend payable for the 2023 anniversary date for series #1?
4%
4.25%
1%
3%
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