TSFA Knowledge Based Certification Practice Test

These questions are part of the practice quiz. Start practicing

• Can you transfer TFSA funds between institutions without tax consequences?
• What term describes the process growers, wholesalers, and retailers must perform on flowers before sale?
• When a spouse is named as beneficiary, how does a successor holder designation affect the TFSA?
• What is the common name for Aspidistra Elatior?
• Which statement is true about life insurance and TFSA eligibility?
• Which statement is true about TFSA contributions?
• A hue darkened by the addition of black forms a shade. Which term is this shade called?
• Are TFSA contributions deductible from income for tax purposes?
• Which of the following is a common TFSA planning mistake?
• Florists must educate the customer in order to achieve which outcome?
• Which term refers to the visual line element that guides the eye through the arrangement?
• In a TFSA, how does investment income grow?
• Which term describes the group of flowers assembled for wedding decorations?
• What term describes lightening a color by adding white?
• What investments are typically eligible inside a TFSA?
• What term means cutting flower stems properly and providing proper treatment at any stage of the distribution process?
• What is the common name for Aglaonema?
• What term refers to primary or line flowers used to establish the outline of the arrangement?
• Are transfers between TFSA and RRSP/RRIF tax-free?
• What term refers to a chemical mixture added to water to extend vase life by lowering the water pH?
• Which term refers to the color element that is a major design element, with the color spectrum comprising twelve major colors?
• Which plant is commonly known as Chinese Evergreen?
• Which statement best describes TFSA as a type of account?
• What floral condition is caused by the inability of water to enter the stem?
• In floral wiring, which is described as a finer material than #16 gauge and is used with #20 and #22 gauge to support roses, carnations and chrysanthemums?
• How do TFSA contribution room and RRSP contribution room relate?
• What was the TFSA limit for 2023?
• Which term describes the relationship between the size of elements and the container in a floral design?
• Which investments are typically not allowed inside a TFSA?
• Which term refers to the energy-conversion process in plants converting light into chemical energy?
• Which term describes the impression of the design being stable and self-supported?
• Are TFSA withdrawals taxed?
• The brightness or darkness of a hue is described by which term?
• What is the Latin name for the Rubber Plant?
• What is the CRA's role in TFSA compliance?
• Which design is a triangular pattern with a strong 'L-Line'?
• What is the role of a successor holder in TFSA planning?
• Can you designate a beneficiary for a TFSA, and how does that designation affect the account on death?
• Which floral design element describes several layers of materials varying in size and texture to create a flowering effect?
• Which process is used to extend freshness of cut flowers and foliages?
• Which term is used for flowers added to fill spaces and complete the design?
• Which term names the chemical mixture that extends vase life by lowering the water pH?
• How does currency risk affect TFSA investments with foreign holdings?
• Which type of flowers are used as primary elements to establish the skeleton outline height or width of an arrangement?
• After a TFSA withdrawal, when does the contributed amount become available again for future contributions?
• Which term refers to the design technique that creates depth by placing materials in a stepped, parallel arrangement?
• Which design technique involves placing similar materials horizontally on top of each other to create stepped levels?
• How should you explain TFSA to a client in one sentence?
• Which term describes floral material used to create an airy finishing touch?
• Which term refers to the level of light received on a plant surface?
• Which floral design term is used to describe the creation of new images by combining elements in an unconventional way?
• Which statement correctly describes the tax treatment of RRSP and TFSA contributions and withdrawals?
• The design that uses several layers of materials of varying size and texture to create a flowering effect is called what?
• What documents are typically required to open a TFSA?
• Which term is used for the Japanese style of floral arrangements characterized by linear forms?
• Which term describes a design technique in which branches of flowers are used around the perimeter of a floral arrangement to direct attention to the materials in the center?
• Which term describes a color combination involving equal parts of a primary color and an adjacent secondary color?
• Is it permissible to hold multiple TFSAs at different financial institutions?
• Can you hold real estate directly inside a TFSA?
• How can you maximize TFSA contribution room over time?
• What term denotes the length of useful life of cut floral materials after being received by the customer?
• Which design technique uses parallel insertions to create a uniform surface with little depth variation?
• Which term describes the time period a bouquet remains usable after purchase?
• Which term describes flowers that are usually a single stem with large rounded heads used to fill in the arrangement?
• What term describes the relationship between the flowers, foliage and container in a floral design?
• In estate planning, what is the role of TFSA designations (beneficiary or successor holder)?
• Which design contains more than one focal point?
• Which term corresponds to the collection including Bride's bouquet, Bridesmaid's bouquet, corsages, boutonnieres, altar flowers, pew flowers, on the candelabra, Bride's Throw bouquet, table decorations and on the wedding cake?
• Which term refers to the storage or shipment of flowers out of water?
• Removing foliage below the water level in an arrangement helps prevent bacterial growth. What term is associated with this practice?
• Which plant is commonly known as the Weeping Fig?
• Which plant is commonly called Peace Lily?
• Which plant is commonly known as Cast Iron Plant?
• Which term is defined as firmly wrapping or tying similar materials together to form a larger, individual unit?
• In pave arrangements, heights should not vary; this design creates a uniform area with little depth variation. Which term describes this style?
• What was the annual TFSA contribution limit for 2024?
• What describes the placement of cut material in a parallel design within each group to create depth?
• The measure of color intensity when gray is added to a hue is called what?
• Two primary colors combined in equal amounts produce which color category?
• Which design term refers to creating new images by combining natural and man-made materials in an unusual way?
• What term describes the tight positioning of flower clusters at the base of an arrangement forming rounded hills?
• Which investments are considered eligible within a TFSA by the CRA?
• Which statement about eligible investments within a TFSA is true?
• Are investment incomes inside a TFSA taxed?
• Which design uses a triangular outline with equal sides and is formal?
• How is TFSA contribution room tracked and reported?
• Why is the TFSA considered a flexible savings tool?
• What is the ideal refrigerator temperature range for fresh products?
• Which term describes the design concept that creates new images by combining natural and man-made materials in an unusual way?
• Which plant is commonly known as the Corn Plant?
• Corsage wiring technique in which the wire is shaped into a hairpin
• Which term is used to name the primary or line flowers that define the design's outline?
• How do you measure the effectiveness of a TFSA strategy?
• Can you contribute to a TFSA if you become a non-resident?
• What is the citric acid solution that causes flowers to take up water rapidly after dry packing?
• If you die and you designated a spouse as successor holder, what happens to the TFSA?
• Which term describes a design that does not require a focal point?
• A hue darkened by the addition of black forms a shade.
• Which term refers to a type of flower used to complete a floral design?
• Can RRSP or RRIF funds be transferred to a TFSA?
• Which option lists only investments that are typically eligible inside a TFSA?
• In floral design, which element is the visual path the eye follows through the arrangement?
• TFSA aligns with which planning areas?
• If you transfer TFSA funds between institutions, does it count as a withdrawal or contribution?
• The process by which plants lose water through stomata in the leaves is called?
• Describes the lightness or darkness of a hue.
• What is the penalty for exceeding TFSA contribution limits?
• Can you invest in foreign securities within a TFSA?
• Which term would be used to categorize arrangements with more than one focal point?
• Which term refers to the supplies, methods and materials designers use to place and hold flowers in an arrangement?
• Can TFSA funds be transferred to a RRSP or RRIF without tax consequences?
• What is the cellular process in which stored food reserves are converted into usable energy for the plant?
• What happens to a TFSA on the death of the account holder if a successor holder is designated?
• In floral design, which term describes the relationship of an arrangement to its surroundings, affecting perceived size?
• What is the benefit of naming a successor holder for a TFSA?
• Which term describes the act of grouping stems into a single cluster for easier handling?
• The relationship between the completed arrangement and its location is referred to as what?
• What is a TFSA transfer and when is it used?
• Do TFSA withdrawals count as taxable income?
• In floral design, which term refers to a design category that uses clusters to guide the viewer along a line?
• Which term describes the process of converting nutrients, water, carbon dioxide and sunlight into food for plants?
• What is the approximate cumulative TFSA room by the end of 2024 for someone who turned 18 in 2009 and never contributed?
• How do you correct an excess TFSA contribution?
• Which statement best describes the tax treatment of TFSA withdrawals?
• Wiring technique where the wire is inserted through the flower and a small hook is formed in the wire before it is pulled back into the flower.
• Are life insurance policies eligible TFSA investments?
• If you have unused TFSA room and never contribute, what happens?
• Which term describes a hydration solution used to hydrate flowers and promote water uptake?
• Which design style is characterized by seasonal compatibility of plant materials?
• How is TFSA contribution room determined?
• How are foreign withholding taxes treated on TFSA investments?
• What is the Latin name for the Corn Plant?
• Which plant is commonly known as the Rubber Plant?
• Which design features shorter stems of mass flowers to provide color and focal point near the rim?
• What is the TFSA 60-day rule?
• What factors should you consider when selecting TFSA investments?
• What happens if you contribute more than your TFSA limit in a year?
• Which designation allows continuation of the TFSA for the named beneficiary without a deemed disposition?
• Which statement about TFSA as a savings vehicle is accurate?
• What is the main penalty for misreporting TFSA contributions?
• Are TFSA investment incomes taxed inside the account?
• Which colors are primary colors?
• Which color grouping includes red, yellow, and blue as the basic set?
• Who is eligible to contribute to a TFSA?
• Which arrangement category includes corsages as a lightweight option?
• Corsage wiring technique where a wire is inserted through the calyx and bent downward along the stem.
• Do not require a focal point.
• Can you carry forward unused TFSA room?
• What happens if you withdraw from a TFSA; how does it affect future contributions?
• Which term refers to the color element as a key design element?
• What does currency risk mean for a TFSA investor with international holdings?
• Which type of flowers are used to create a focal point with unusual and distinctive shapes?
• Which plant belongs to the Ficus genus and is commonly used as a decorative indoor tree?
• Which investment is generally not allowed directly inside a TFSA?
• Which practice helps prevent stem blockage and improves water uptake when trimming fresh stems, especially if the cut is slanted?
• Which term identifies a triangular design that is balanced and formal?
• What is the stated purpose of foliage in a floral arrangement?
• How does the 60-day rule apply to mis-timed contributions?
• How does TFSA complement RRSPs and RESPs in a financial plan?
• An asymmetrically balanced design of few materials usually placed in groups that emphasize forms and lines is known as which design?
• Tracking unused TFSA room helps with what planning?
• Which term refers to the supplies and methods used to hold floral materials in an arrangement?
• Which design is a formal, equilateral triangular design?
• What is the Latin name for the Peace Lily?
• What is the purpose of a self-directed TFSA?
• Which term designates the arrangement technique where branches are placed along the outer edge to emphasize the center?
• Which term describes a design that emphasizes seasonal availability of plant materials?
• In a corsage, the center of interest is known as which term?
• The location within a design that attracts the most attention, the center of interest, is known as which term?
• How does inflation affect TFSA contribution strategy?
• Two primary colors combined in equal amounts produce which color group?
• Are TFSA contributions deductible for income tax?
• The brightness or darkness of a hue is called which term?
• Which statement about TFSA withdrawals and tax is true?
• What is a TFSA and how is its income taxed?
• Which statement accurately describes the difference between a beneficiary designation and a successor holder in TFSA planning?