Exam CIFC Topic 1 Question 130 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 130
Topic #: 1
The following table shows Sabrina's earned income for the past few years:

Sabrina has always maximized her RRSP contributions, so she has no carry-forward room available. If the maximum contribution limit for Year 3 is $24,270, what is her RRSP contribution room for Year 3?

Suggested Answer: B Vote an answer

Explanation
Sabrina's RRSP contribution room for Year 3 is $24,270. This is because the maximum contribution limit for Year 3 is $24,270 and Sabrina has always maximized her RRSP contributions, so she has no carry-forward room available.
References: Canadian Investment Funds Course, Chapter 5: Registered Plans

by Walker at Apr 26, 2025, 06:22 PM

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