7) Sandra invested $10,000 in a Tax-Free Savings Account (TFSA) last year and it has a value of $12,000 today. She also invested $10,000 in a Registered Retirement Savings Account (RRSP) last year and it has a value of $15,000 today. With the market uncertainty today, Sandra decides to withdraw the entire amounts from both accounts. On what amounts will Sandra need to pay tax on? a) Only on the initial $20,000 invested in each account b) On the total amount withdrawn (ie $27,000) which includes the growth from each account c) On the $5,000 growth in the Registered Retirement Savings Account d) On the $15,000 withdrawn from the Registered Retirement Savings Account e) There is no tax to be paid 8) Leslie has invested in a diversified portfolio. His bonds will pay_ his Canadian common stocks will pay_ his foreign stocks will pay __ his real estate holdings will earn __ upon the sale, and his preferred shares will pay a) interest, dividends, dividends, capital gains, dividends b) dividends, interest, dividends, capital gains, interest c) interest, dividends, dividends, capital gains, interest d) interest, interest, capital gains, capital gains, dividends e) dividends, dividends, dividends, interest, capital gains 9) In March 2019, Denise purchased 2,000 shares at $24.50/share in the company called Vaccine Inc. During this one-year period, she received $2.35/share in dividends. Despite the great returns, Denise decided to sell her shares today (March 23, 2020) when they hit $34/share as she needed money for tuition. What was Denise's investment return during the one year that she held the shares? a) 48.37% b) 27.64% c) 36.45% d) 41.11% e) 38.20% 10) If you die without a Will the court will always appoint a family member to distribute your estate according to the laws of your province. a) True b) False