Protection in Case of Insolvency of a Financial Institution

KNOWLEDGE EXPECTED OF: QAFP^® Professionals

Awareness The state of being aware that something exists / to have familiarity with a particular activity or subject		Understanding To comprehend the general relationship of particulars / to have an expertise with how something works	Application Ability to put information to use / to use knowledge for relevant, practical purposes					Evaluation To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
Define To state exactly the meaning of	Identify To be aware of / to recognize and correctly name / to locate an appropriate resource	Explain To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it	Determine To ascertain / to come to a decision, such as by investigation or reasoning	Compare To note the similarities and differences between two or more things	Estimate To determine an approximate value for	Calculate To find the value using mathematics	Convert To change from one form or purpose to another	Evaluate To reach a conclusion or make a through careful study	Interpret To give the meaning of / to construe or understand / to translate orally

Hold cursor over or click on each term to read its definition.

Identify the entities that provide insolvency coverage for consumers of financial services, such as:
- Canada Deposit Insurance Corporation (CDIC)¹
- Assuris²
- Canadian Investor Protection Fund (CIPF)³
- Property and Casualty Insurance Compensation Corporation (PACICC)⁴
Explain the role of the Canada Deposit Insurance Corporation (CDIC).⁵
Explain the deposit eligibility requirements for coverage under the Canada Deposit Insurance Corporation (CDIC).⁶

Calculate the coverage available from the Canada Deposit Insurance Corporation (CDIC).^7,⁸
Identify how coverage for the Canada Deposit Insurance Corporation (CDIC) is funded.⁹
Explain the role of Assuris.¹⁰
Explain the eligibility requirements for Assuris coverage.¹¹
Calculate the coverage available under Assuris.

Identify how coverage for Assuris is funded.¹²
Explain the role of the Canadian Investor Protection Fund (CIPF).¹³
Explain the deposit eligibility requirements to qualify for coverage from the Canadian Investor Protection Fund (CIPF).¹⁴
Calculate the coverage available under the Canadian Investor Protection Fund (CIPF).
Identify how coverage for the Canadian Investor Protection Fund (CIPF) is funded.¹⁵
Identify the timelines for making a claim for coverage with the Canadian Investor Protection Fund (CIPF).¹⁶

Awareness The state of being aware that something exists / to have familiarity with a particular activity or subject		Understanding To comprehend the general relationship of particulars / to have an expertise with how something works	Application Ability to put information to use / to use knowledge for relevant, practical purposes					Evaluation To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
Define To state exactly the meaning of	Identify To be aware of / to recognize and correctly name / to locate an appropriate resource	Explain To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it	Determine To ascertain / to come to a decision, such as by investigation or reasoning	Compare To note the similarities and differences between two or more things	Estimate To determine an approximate value for	Calculate To find the value using mathematics	Convert To change from one form or purpose to another	Evaluate To reach a conclusion or make a through careful study	Interpret To give the meaning of / to construe or understand / to translate orally

Hold cursor over or click on each term to read its definition.

Identify the entities that provide insolvency coverage for consumers of financial services, such as:
- Canada Deposit Insurance Corporation (CDIC)¹
- Assuris²
- Canadian Investor Protection Fund (CIPF)³
- Property and Casualty Insurance Compensation Corporation (PACICC)⁴
Explain the role of the Canada Deposit Insurance Corporation (CDIC).⁵
Explain the deposit eligibility requirements for coverage under the Canada Deposit Insurance Corporation (CDIC).⁶

Calculate the coverage available from the Canada Deposit Insurance Corporation (CDIC).^7,⁸
Identify how coverage for the Canada Deposit Insurance Corporation (CDIC) is funded.⁹
Explain the role of Assuris.¹⁰
Explain the eligibility requirements for Assuris coverage.¹¹
Calculate the coverage available under Assuris.
Identify how coverage for Assuris is funded.¹²
Explain the role of the Canadian Investor Protection Fund (CIPF).¹³
Explain the deposit eligibility requirements to qualify for coverage from the Canadian Investor Protection Fund (CIPF).¹⁴
Calculate the coverage available under the Canadian Investor Protection Fund (CIPF).
Identify how coverage for the Canadian Investor Protection Fund (CIPF) is funded.¹⁵
Identify the timelines for making a claim for coverage with the Canadian Investor Protection Fund (CIPF).¹⁶

Additional Knowledge Expected of CFP Professionals

Explain the role of the Property and Casualty Insurance Compensation Corporation (PACICC).¹⁷
Explain the eligibility requirements for Property and Casualty Insurance Compensation Corporation (PACICC) coverage.¹⁸
Identify the products covered under Property and Casualty Insurance Compensation Corporation (PACICC).¹⁹
Identify how coverage for the Property and Casualty Insurance Compensation Corporation (PACICC) is funded.²⁰
Identify the timelines for making a claim for coverage with the Property and Casualty Insurance Compensation Corporation (PACICC).²¹