Chapter 3 (part 1)

Question 1

Name the 2 Federal regulators?

Answer 1

1. Office of the superintendent of financial institutions

2. Canada deposit insurance company

Question 2

What are the 6 institutions The Office of superintendents of financial institutions regulate?

Answer 2

1. Banks
2. Trust and loan companies
3. Credit unions
4. Life insurance companies
5. Property and casualty insurance
6. Federally regulated Pension plans

Question 3

What are the 4 things Canadian deposit insurance company insure?

Answer 3

1. Savings and checking accounts
2. Guaranteed investment certificates that are 5 years or less
3. Cheques, Money orders and bank drafts
4. accounts that hold realty taxes on mortgaged properties

Question 4

How much does the Canadian deposit insurance company insure?

Answer 4

100,000 dollars

an individual can be insured more than 100,000$ in some cases. Example if an individual has a checking account and a RRSP they can be insured over 100,000.

Question 5

What association are all the provinces regulators apart of?

Answer 5

Canadian Securities Association. It has 13 members which is comprised of mostly Provincial Securities commissions.

Question 6

What is a SRO?

Answer 6

Self regulated Organization, They are regulated by provincial securities commissions.