knowledge topics
Protection in Case of Insolvency of a Financial Institution
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM 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)
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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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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 judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
REFERENCES
- https://www.cdic.ca/en/Pages/default.aspx
- http://www.assuris.ca/Client/Assuris/Assuris_LP4W_LND_WebStation.nsf/welcome_en.html?ReadForm
- http://www.cipf.ca/
- http://mfda.ca/mfda-investor-protection-corporation/
- http://www.pacicc.com/
- http://www.cdic.ca/en/about-cdic/Pages/default.aspx
- http://www.cdic.ca/en/about-di/what-we-cover/Pages/default.aspx
- http://www.cdic.ca/en/about-di/calculate-coverage/Pages/estimator.aspx
- http://www.cdic.ca/en/about-di/how-it-works/Pages/default.aspx
- http://www.cdic.ca/en/about-di/Pages/default.aspx
- http://www.assuris.ca/Client/Assuris/Assuris_LP4W_LND_WebStation.nsf/welcome_en.html?ReadForm
- http://www.assuris.ca/Client/Assuris/Assuris_LP4W_LND_WebStation.nsf/page/Policyholder?OpenDocument&audience=policyholder
- http://www.assuris.ca/Client/Assuris/Assuris_LP4W_LND_WebStation.nsf/page/Assuris+Funding!OpenDocument&audience=policyholder
- http://www.cipf.ca/Public/AboutUs/CIPFMissionStatement.aspx
- http://www.cipf.ca/Public/CIPFCoverage/WhatCoverageDoesCIPFProvide.aspx
- http://www.cipf.ca/homepage.aspx
- http://www.cipf.ca/Public/CIPFCoverage/ClaimsProcedures.aspx
- http://mfda.ca/mfda-investor-protection-corporation/
- http://mfda.ca/mfda-investor-protection-corporation/mfda-ipc-coverage/
- http://mfda.ca/wp-content/uploads/IPC_Cov_Pol-1.pdf
- http://www.pacicc.ca/about-us/
- http://www.pacicc.ca/industry-information/coverage/
- http://www.pacicc.com/documents/PACICC%20Brochure.pdf
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