RESP Attributes
KNOWLEDGE EXPECTED OF: QAFP® Professionals
Highest Knowledge Level: Understanding
Knowledge Levels and Associated Verbs
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Awareness
The state of being aware that something exists / to have familiarity with a particular activity or subject
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Understanding
To comprehend the general relationship of particulars / to have an expertise with how something works
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Application
Ability to put information to use / to use knowledge for relevant, practical purposes
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Evaluation
To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Determine
To ascertain / to come to a decision, such as by investigation or reasoning
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
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Hold cursor over or click on each term to read its definition.
- Define a Registered Education Savings Plan.1
- Identify that a Registered Education Savings Plan is associated with accumulating assets for post-secondary education.
- Identify for whom a Registered Education Savings Plan may be suitable.
- Explain advantages associated with a Registered Education Savings Plan.
- Define the types of Registered Education Savings Plans.
- Family2
- Individual (non-family)
- Specified (individual)3
- Group
- Define the parties to a Registered Education Savings Plan.
- The promoter4
- The subscriber5
- The beneficiary6
- Explain the role of each of the parties to a Registered Education Savings Plan.
- Explain the parties who may be a subscriber of a Registered Education Savings Plan.
- Explain the circumstances when a new subscriber may be permitted to replace the original subscriber on a Registered Education Savings Plan.7
REFERENCES
KNOWLEDGE EXPECTED OF: CFP® Professionals
Highest Knowledge Level: Understanding
Knowledge Levels and Associated Verbs
|
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.
- Define a Registered Education Savings Plan.1
- Identify that a Registered Education Savings Plan is associated with accumulating assets for post-secondary education.
- Identify for whom a Registered Education Savings Plan may be suitable.
- Explain advantages associated with a Registered Education Savings Plan.
- Define the types of Registered Education Savings Plans.
- Family2
- Individual (non-family)
- Specified (individual)3
- Group
- Define the parties to a Registered Education Savings Plan.
- The promoter4
- The subscriber5
- The beneficiary6
- Explain the role of each of the parties to a Registered Education Savings Plan.
- Explain the parties who may be a subscriber of a Registered Education Savings Plan.
- Explain the circumstances when a new subscriber may be permitted to replace the original subscriber on a Registered Education Savings Plan.7
Additional Knowledge Expected of CFP Professionals
- Identify qualified investments as prescribed by the Canada Revenue Agency that may be held in a Registered Education Savings Plan.8
