1. When you contribute to a defined-contribution retirement plan, you are able to deduct the contributions from your income.

True

False

2. Two advantages of investing in mutual funds are diversification and professional management.

True

False

3. GST credit for low-income families and the Working Income Tax Benefit are examples of non-refundable tax credits.

True

False

4. The RRSP contribution room is reduced by the pension adjustment for those who have a pension plan at work.

True

False