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8 Cards in this Set
- Front
- Back
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Resident Alien |
A foreign person who is a permanent resident of Canada but does not have citizenship |
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Contractual Plan |
A mutual fund accumulation plan under which the investor agrees to contribute a fixed sum of money over time. If the investor does not complete or terminates the contract early, they may be subject to penalties. |
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Information Circular |
A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting |
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Cumulative Preferred Shares |
A type of stock that states any skipped or omitted dividends must be paid to its holders before common shareholders can receive dividends |
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Strip Bond / Zero-Coupon Bond |
A bond where both principal and regular coupon payments--which have been removed are sold separately |
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Floating Rate |
A bond that does not have a fixed rate of interest for the life of the instrument |
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Mortgage Loan Insurance |
1. Mortgage loan insurance protects the lender in case you default on your mortgage payments 2. If you have a down payment less than 20% of the value of the home, you are required to purchase mortgage loan insurance |
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Cost of Mortgage Loan Insurance |
1. Premiums can range from 0.6% to 4.5% of the remaining amount of your mortgage
2. The larger the down payment, the smaller the mortgage loan insurance premium 3. CMHC typically offers mortgage loan insurance |
