CRA (choose one)
HISA (choose one)
RRSP (choose one)
TFSA (choose one)
RESP (choose one)
ROI (choose one)
ETF (choose one)
GIC (choose one)
You are close... but there is more to learn
Check out the meaning of all the acronyms below:
CRA: The Canada Revenue Agency is the federal agency that administers tax laws for the Canadian government, as well as most provinces and territories.
HISA: A High Interest Savings Account is just what the name implies – a savings account that pays higher interest than a traditional savings account.
RRSP: A Registered Retirement Savings Plan is an account that's registered with the Canadian government, designed to help Canadians save for retirement.
TFSA: A Tax-Free Savings Account is a government sponsored investment account (it's really more like a TFIA), designed to shelter interest, dividends, and other investment earnings from tax.
RESP: A Registered Education Savings Plan is a government-sponsored account designed to help parents save for their child's post-secondary education.
ROI: Return on Investment is a performance measure that lets you know how much money or profit you've made on an investment, relative to the amount of money you invested.
ETF: An Exchange-Traded Fund is an investment fund that lets you buy a whole collection of investments (stocks, bonds, etc.) in one purchase.
GIC: A Guaranteed Investment Certificate is a secure investment that guarantees 100% of the original amount you invested (while earning interest at a fixed or variable rate).
You are close... but there is more to learn
Check out the meaning of all the acronyms below:
CRA: The Canada Revenue Agency is the federal agency that administers tax laws for the Canadian government, as well as most provinces and territories.
HISA: A High Interest Savings Account is just what the name implies – a savings account that pays higher interest than a traditional savings account.
RRSP: A Registered Retirement Savings Plan is an account that's registered with the Canadian government, designed to help Canadians save for retirement.
TFSA: A Tax-Free Savings Account is a government sponsored investment account (it's really more like a TFIA), designed to shelter interest, dividends, and other investment earnings from tax.
RESP: A Registered Education Savings Plan is a government-sponsored account designed to help parents save for their child's post-secondary education.
ROI: Return on Investment is a performance measure that lets you know how much money or profit you've made on an investment, relative to the amount of money you invested.
ETF: An Exchange-Traded Fund is an investment fund that lets you buy a whole collection of investments (stocks, bonds, etc.) in one purchase.
GIC: A Guaranteed Investment Certificate is a secure investment that guarantees 100% of the original amount you invested (while earning interest at a fixed or variable rate).
Congratulations! You are an expert!
Check out the meaning of all the acronyms below:
CRA: The Canada Revenue Agency is the federal agency that administers tax laws for the Canadian government, as well as most provinces and territories.
HISA: A High Interest Savings Account is just what the name implies – a savings account that pays higher interest than a traditional savings account.
RRSP: A Registered Retirement Savings Plan is an account that's registered with the Canadian government, designed to help Canadians save for retirement.
TFSA: A Tax-Free Savings Account is a government sponsored investment account (it's really more like a TFIA), designed to shelter interest, dividends, and other investment earnings from tax.
RESP: A Registered Education Savings Plan is a government-sponsored account designed to help parents save for their child's post-secondary education.
ROI: Return on Investment is a performance measure that lets you know how much money or profit you've made on an investment, relative to the amount of money you invested.
ETF: An Exchange-Traded Fund is an investment fund that lets you buy a whole collection of investments (stocks, bonds, etc.) in one purchase.
GIC: A Guaranteed Investment Certificate is a secure investment that guarantees 100% of the original amount you invested (while earning interest at a fixed or variable rate).
You are definitely goofy, but let's learn what are those acronyms are really talking about!
Check out the meaning of all the acronyms below:
CRA: The Canada Revenue Agency is the federal agency that administers tax laws for the Canadian government, as well as most provinces and territories.
HISA: A High Interest Savings Account is just what the name implies – a savings account that pays higher interest than a traditional savings account.
RRSP: A Registered Retirement Savings Plan is an account that's registered with the Canadian government, designed to help Canadians save for retirement.
TFSA: A Tax-Free Savings Account is a government sponsored investment account (it's really more like a TFIA), designed to shelter interest, dividends, and other investment earnings from tax.
RESP: A Registered Education Savings Plan is a government-sponsored account designed to help parents save for their child's post-secondary education.
ROI: Return on Investment is a performance measure that lets you know how much money or profit you've made on an investment, relative to the amount of money you invested.
ETF: An Exchange-Traded Fund is an investment fund that lets you buy a whole collection of investments (stocks, bonds, etc.) in one purchase.
GIC: A Guaranteed Investment Certificate is a secure investment that guarantees 100% of the original amount you invested (while earning interest at a fixed or variable rate).
Learn more about these acronyms and other financial terms with our Investment FAQs.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
