knowledge topics
RESP Attributes
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Define a Registered Education Savings Plan.1
- Identify that a Registered Education Savings Plan is associated with accumulating assets for education.
- Identify for whom a Registered Education Savings Plan may be suitable.
- Explain advantages associated with a Registered Education Savings Plan.
- Define the parties to a Registered Education Savings Plan.
- The promoter2
- The subscriber3
- The beneficiary4
- Explain the role of each of the parties to a Registered Education Savings Plan.
- Define the types of Registered Education Savings Plans.
- Family5
- Specified (Individual)5
- Explain the parties who may be a subscriber of a Registered Education Savings Plan.
- For a specified plan3
- For a family plan3
- Explain the circumstances when a new subscriber may be permitted to replace the original subscriber on a Registered Education Savings Plan.3
- Identify qualified investments as prescribed by the Canada Revenue Agency that may be held in a Registered Education Savings Plan.6
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

REFERENCES
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/menu-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/glssry-eng.html#Promoter
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/sbscrbr-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/bnfcry-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/resp-reee/glssry-eng.html#family
- http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s3/f10/s3-f10-c1-eng.html