Ontario Barrister and Solicitor Practice Exam

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What does LRIP stand for?

Low Rate Income Pool

LRIP stands for Low Rate Income Pool. The other options listed do not accurately reflect the meaning of LRIP.

Option B, Leveraged Rate Income Pool, is incorrect because it includes the term "leveraged" which is not part of the acronym LRIP.

Option C, Legal Rate Interest Pool, is incorrect because it includes the word "legal" which is not part of the acronym LRIP.

Option D, Lowest Rate Income Policy, is incorrect because it uses the word "policy" instead of "pool" and also includes "lowest" which is not part of the acronym LRIP.

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Leveraged Rate Income Pool

Legal Rate Interest Pool

Lowest Rate Income Policy

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