Here are the answers to our quiz on key news topics from December, plus some additional background information.
1. One of Canada’s hockey greats received a final farewell tribute in Montreal on December 9, 2014. Who is he?
Answer: b
Additional notes: Jean Beliveau was honoured by Montreal Canadians at the first home game after he passed away. The tribute commemorated Beliveau’s contribution to hockey, to Montreal and to Canada.
2. There are calls for Canada to review its policies on intelligence-sharing with the United States due to:
Answer: c
Additional notes: the US Senate Intelligence Committee report outlines atrocities used to gain information from detainees.
3. What is a subprime mortgage?
Answer: a
Additional notes: as a result of a borrower’s lower credit rating, the subprime mortgage lender charges a higher interest rate to mitigate risk.
4. What is a king tide?
Answer: b
Additional notes: Vancouver placed 30,000 sandbags in a low-lying area that was anticipating king tides in an effort to protect local homes.
5. What role does Veterans Affairs play?
Answer: a
Additional notes: Veterans Affairs has a budget that exceeds 1 billion dollars to support health care, disability payments and death benefits for veterans. Last year it did not use its entire budget, thereby raising questions on whether it is fulfilling its mandate.
6. According to a 2012 research, nearly 5 million Canadians are in low income status. What does this mean?
Answer: d
Additional notes: The average annual income of families in low income status is below $25,000.
7. Who is Canada’s athlete of the year for 2014?
Answer: c
Additional notes: Kaillie Humphries received the coveted Lou Marsh award for athlete of the year.
8. Fashion followers will be interested to know the colour of the year for 2015 which was recently announced. It is:
Answer: d
Additional notes: Each year colour experts from around the world look at trends including those in the economy, to determine the colour of the year.
9. What is the Price Transparency Act?
Answer: c
Additional notes: The Federal government is introducing this legislation to bring Canadian retail prices in line with retail prices in the United States. However, it is largely believed that this is impossible to regulate due to higher transportation costs, smaller markets, tax structures and lack of Canadian innovation.
10. What is meant by the Alberta Advantage?
Answer: b
Additional notes: Currently Alberta has no sales tax and a 10% flat rate provincial tax on income. However, with the declining price of oil, the Alberta government is faced with huge revenue losses. To compensate, they will either have to cut services or increase taxes. Adding a sales tax would close this gap.
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