Chartered Investment Manager (CIM) Practice Exam · Question
Which of the following Canadian registered accounts allows for tax-free growth and withdrawals, typically used for retirement savings?
An RRSP allows contributions to be tax-deductible, and investments grow tax-deferred until withdrawal in retirement, at which point they are taxed as income. A
Start free practice for Chartered Investment Manager (CIM) Practice Exam
399 questions · no signup required · 40 free questions per day
Question: Which of the following Canadian registered accounts allows for tax-free growth and withdrawals, typically used for retirement savings?
Answer options: ✅ Registered Retirement Savings Plan (RRSP)
- Tax-Free Savings Account (TFSA)
- Registered Education Savings Plan (RESP)
- Non-Registered Investment Account
Correct answer: Registered Retirement Savings Plan (RRSP)
Explanation: An RRSP allows contributions to be tax-deductible, and investments grow tax-deferred until withdrawal in retirement, at which point they are taxed as income. A TFSA provides tax-free growth and withdrawals, but contributions are not tax-deductible.
Start free practice for Chartered Investment Manager (CIM) Practice Exam
399 questions · no signup required · 40 free questions per day
More about Chartered Investment Manager (CIM) Practice Exam
Related Questions
- Strategic asset allocation is:
- Modern Portfolio Theory introduced by:
- A client approaches you, a CIM-credentialed portfolio manager, wanting to understand the true cost of their mu
- Duration measures bond sensitivity to:
- Which of the following is an example of an alternative investment?
- An investment advisor's foremost duty to a client is to act in their best interest, placing the client's inter
More for Chartered Investment Manager (CIM) Practice Exam candidates
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Chartered Investment Manager (CIM) Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.