Cisi 2cram all Ifc Test Inside Cisi Questions by Asa q259 vce pdf

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Exam Name:	Investment Funds in Canada (IFC) Exam
Exam Code:	IFC Dumps
Vendor:	CSI	Certification:	Canadian Securities Course
Questions:	447 Q&A's	Shared By:	asa

Question 8

Which of the following Dealing Representatives has fulfilled their "Know Your Product" obligation?

Options:

Godfried opens an account for his new client, Nadia. When the investments from her previous dealer are transferred in, Godfried sells the investments. Nadia becomes very upset when she is charged $4,329 in redemption fees that neither she nor Godfried expected.

Otev meets with his client, Saeed. Saeed's brother invested in the Navigator Eastern Asia Fund and it provided great returns. When Saeed asks Otev if the Navigator Fund or something similar is available through his firm, Otev doesn't know and doesn't look it up.

Rehan reviews the features of the Hedge Fund that her client, Georgi, wants to buy. When Rehan explains the product to Georgi, she tells him that the Hedge Fund has a lock-up period and he will not be able to redeem the fund if he needs the money.

Tevy recommends the firm's in-house Principal Protected Note (PPN) to her client Mei. Since Mei is seeking safety and liquidity, Tevy determines that the PPN is a good product for her because it's on the firm's list and the principal is guaranteed.

Discussion

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Question 9

Why is it important to include ethical decision-making as a Standard of Conduct?

Options:

Ensures conformity with externally established standards.

Enables CIRO to regulate the actions and behaviours of registered individuals.

Provides flexibility so registrants can use their own judgement.

Allows the security industry to operate with the trust and confidence of the public.

Discussion

Question 10

Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is $16.70. On December 15, the mutual fund’s NAVPU is $21. On December 16, the mutual fund declares a distribution of $1.25 per unit. Sean’s distribution is immediately reinvested and he purchases additional units of the mutual fund.

Which of the following statements about the effect of the distribution is correct?

Options:

After the distribution. Sean will have J&625 in cash and JB8.350 worth of the Penn Canadian Equity Fund.

The total value of Sean's mutual fund holdings after the distribution and reinvestment is §9,875.

The NAVPU of the mutual fund does not change after the distribution since Sean reinvests his distribution and purchases additional units.

Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.

Discussion

Question 11

Maureen is 65 years old and will be retiring soon. She has a modest portfolio of mutual funds that focus on growth. As she approaches retirement, Maureen wants to switch to investments that provide steady income with low to medium risk.

Given Maureen’s wishes, which of the following mutual funds would be suitable for her?

Options:

money market funds, mortgage funds, bond funds

money market funds. Canadian dividend funds, sector funds

Canadian dividend funds, global equity index funds, bond funds

money market funds, global equity funds, bond funds