Acronyms and Abbreviations

On either the QAFP or CFP exam, the following abbreviations may appear.  If any one of the following acronyms or abbreviations appear in the exam, it correspond to the complete word seen below.

ACB Adjusted cost base/basis LIF Life Income Fund
AD&D Accidental Death and Dismemberment LIRA Locked-In Retirement Account
AMT Alternative Minimum Tax LRIF Locked-In Retirement Income Fund
CCA Capital Cost Allowance LRSP Locked-In Retirement Savings Plan
CDIC Canada Deposit Insurance Corporation LTD Long-term Disability
CESG Canada Education Savings Grant MTR Marginal Tax Rate
CNIL Cumulative Net Investment Loss OAS Old Age Security
COLA Cost of Living Adjustment PA Pension Adjustment
CPP Canada Pension Plan/Quebec Pension Plan PAR Pension Adjustment Reversal
CRA Canada Revenue Agency POA* Power of Attorney
CSB Canada Savings Bond QSBC Qualified Small Business Corporation
CSV Cash Surrender Value RESP Registered Education Saving Plan
DPSP Deferred Profit Sharing Plan RCA Retirement Compensation Arrangement
DRIP Dividend Reinvestment Plan RDTOH Refundable Dividend Tax on Hand
EAP Education Assistance Payment RPP Registered Pension Plan
EI Employment Insurance RRIF Registered Retirement Income Fund
ETF Exchange-Traded Fund RRSP Registered Retirement Savings Plan
FMV Fair Market Value TFSA Tax-Free Savings Account
GIC Guaranteed Investment Certificate

* For the acronym POA, it is a generic term that can refer to a Power of Attorney for Property (finance) and Health.  Unless otherwise stated the POA should be considered to be “Unlimited” or “Enduring”.