knowledge topics

Protection in Case of Insolvency of a Financial Institution

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM Professionals

Identify the entities that provide insolvency coverage for consumers of financial services, such as:
- Canadian Deposit Insurance Corporation (CDIC)¹
- Assuris²
- Canadian Investor Protection Fund (CIPF)³
- Mutual Fund Dealers Association Investor Protection Corporation (MFDA IPC)⁴
- Property and Casualty Insurance Compensation Corporation (PACICC)⁵
Explain the role of Canada Deposit Insurance Corporation (CDIC).⁶
Explain the deposit eligibility requirements for coverage under the Canadian Deposit Insurance Corporation (CDIC).⁷
Calculate the coverage available from the Canadian Deposit Insurance Corporation (CDIC).^8,9
Identify how coverage for the Canadian Deposit Insurance Corporation (CDIC) is funded.¹⁰
Explain the role of Assuris.¹¹
Explain the eligibility requirements for Assuris coverage.¹²
Calculate the coverage available under Assuris.
Identify how coverage for Assuris is funded.¹³
Explain the role of the Canadian Investor Protection Fund (CIPF).¹⁴
Explain the deposit eligibility requirements to qualify for coverage from the Canadian Investor Protection Fund (CIPF).¹⁵
Calculate the coverage available under the Canadian Investor Protection Fund (CIFP).
Identify how coverage for the Canadian Investor Protection Fund (CIPF) is funded.¹⁶
Identify the timelines for making a claim for coverage with the Canadian Investor Protection Fund (CIPF).¹⁷
Explain the role of the Mutual Fund Dealers Association Investor Protection Corporation (MFDA IPC).¹⁸
Explain the deposit eligibility requirements for coverage from the Mutual Fund Dealers Association Investor Protection Corporation (MFDA IPC).^19,20
Calculate the coverage under the Mutual Fund Dealers Association Investor Protection Corporation (MFDA IPC).
Identify the timelines for making a claim for coverage with the Mutual Fund Dealers Association Investor Protection Corporation (MFDA IPC).²⁰
Explain the role of the Property and Casualty Insurance Compensation Corporation (PACICC).²¹
Explain the eligibility requirements for Property and Casualty Insurance Compensation Corporation (PACICC) coverage.²²
Identify the products covered under Property and Casualty Insurance Compensation Corporation (PACICC).²²
Identify how coverage for the Property and Casualty Insurance Compensation Corporation (PACICC) is funded.²²
Identify the timelines for making a claim for coverage with the Property and Casualty Insurance Compensation Corporation (PACICC).²³
Identify that provincial credit union deposit protection organizations exist.

Glossary of Verbs (mouse over to see definition)

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
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 judgement through careful study
Interpret

To give the meaning of / to construe or understand / to translate orally

REFERENCES

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Financial Planning Body of Knowledge

knowledge topics

Protection in Case of Insolvency of a Financial Institution

KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals

Glossary of Verbs (mouse over to see definition)

RELEVANT CASE STUDIES

REFERENCES

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM Professionals