knowledge topics

RESP Attributes

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

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

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