TD HISTORY
Toronto Dominion bank merged with what other bank in the year 2000?
Correct answer: Canada Trust
The required payment from a RIF is called a?
Correct answer: Annual minimum payment
True or false: When a customer withdraws from their RSP, they will receive a T4 slip and must claim their withdrawal on their income tax.
Correct answer: True
Information on tax slips can be found on the TD website:
The tallest man ever recorded was what height?
A) 8 feet 1 inches
B) 8 feet 5 inches
C) 8 feet 8 inches
D) 8 feet 11 inches
Correct answer: B
Standing at an incredible height of 8 feet 3 inches, Robert Wadlow holds the record for the tallest person ever recorded. Imagine the challenges and joys of living in a world designed for people half your size!
In what year was TD green line discount brokerage established?
A) 1980
B) 1985
C) 1991
D) 2000
Correct Answer: B
The RIF AMP is calculated based on a percentage linked to a customers age and the value of their account on what date?
Correct Answer: Dec 31st.
fun fact: customers can use their spouses age for AMP. Once you elect to use either your age or your spouse's age for calculating the minimum, that election cannot be changed at a later date.
What type of RESP withdrawal for educational purposes is NOT taxable and can be paid to either the beneficiary or the subscriber.
Correct Answer:PSE withdrawal
This type of withdrawal is composed of the contributions available in the plan
The most expensive art ever sold was painted by Leonardo Da Vinci, the ”salvador mundi”. How much was it sold for?
A) $250 million
B) $350 million
C) $450 million
D) $550 million
Correct Answer: C
This painting fetched a staggering $450 million at auction.
TD replaced its “think or swim” trading platform with what?
Correct Answer: Active Trader
If a customer opens a RIF and deposits funds in the RIF in the year they turn 69, at what age must they make a withdrawal?
A) Age 69
B) 70
C) 71
D) 72
Correct answer: B
Withdrawals from a RIF must begin the year after the account is opened and funds are deposited.
What is a T5 tax slip issued for?
A) capital gains from trading
B) RSP contributions
C) EAP withdrawals
D) dividends and interest
Correct Answer: D
Info on T5 tax slips can be found on the CRA website
What is the longest any person has lived?
A) 122 years
B) 124 years
C) 126 years
D) 128 years
Correct answer: A
The oldest person ever whose age has been independently verified is Jeanne Calment (1875–1997) of France, who lived to the age of 122 years and 164 days.
The bank of Toronto was founded in what year?
A) 1812
B) 1830
C) 1855
D) 1900
Correct Answer: C
The Bank of Toronto founded in 1855 by a group of millers and merchants. It later merged with Toronto dominion bank in 1955.
If a customer does a “rollover” transfer from their RSP to their RIF, are they required to pay any tax?
Correct answer: No
RSP to RIF rollovers do not trigger any type of tax consequences.
Which account has a “10 year rule” where any grants paid in the last 10 years are clawed back if the customer makes a withdrawal?
Black Monday refers to the day of the largest stock market decline in one day - 22%! In what year did this occur?
A) 1929
B) 1932
C) 1987
D) 2001
Correct Answer: C
On Monday, Oct. 19, 1987, the Dow Jones Industrial Average plunged almost 22%. It was the biggest single-day decline in stock market history. The remainder of the month wasn't much better: By the start of November 1987, most of the major stock market indexes had lost more than 20% of their value.
In 1985, Canada Trust advertised their 24 hour new ATM “CASH machines“ called the ”green machines” with what famous American country singer?
If a customer does a full plan withdrawal of their RIF, how much fees are charged by TD?
Correct answer: None
A Quebec resident wants to withdraw $15,000 from their rsp. How much withholding tax will they be charged?
A) 20%
B) 24%
C) 29%
D) 30%
Correct Answer: 24%
For withdrawals up to $5,000: 10% (19% in Quebec) For withdrawals between $5,000 up to $15,000: 20% (24% in Quebec) For withdrawals over $15,000: 30% (29% in Quebec)
Who was the first person to become worth $100 billion dollars?
Correct Answer: Jeff Bezos
This probably won’t come as a surprise, Jeffrey Preston Bezos (USA), the founder of the massive ecommerce platform Amazon, was the world’s first centibillionaire, meaning his personal wealth surpassed $100 billion.