Cisi selftestengine new Release Ifc Investment Funds In Canada Questions by Ismael q97 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:	ismael

Question 120

Frederic recently sold his units in a US dollar (USD) denominated mutual fund. He wants to convert the proceeds back to Canadian dollars (CAD). If he received proceeds of $1,200 USD from the sale and the exchange rate is $1 CAD for $0.99 USD, how much will Frederic receive in Canadian dollars?

Options:

$1-188.00

$1,200.00

$1, 12.12

$1,320.00

Discussion

Question 121

Which company usually fills the role of the custodian for a mutual fund?

Options:

A trust company

A management company

An insurance company

A subsidiary company

Discussion

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Question 122

Thomas, a resident of Ontario, is a full-time university student. He does food delivery to supplement his income. During the school year, he works on weekends and works full-time during his summer break.

Thomas' pensionable earnings were $16,000 for the year. How much must Thomas contribute to CPP when CPP contribution rate is 5.95%?

Options:

$743.75

$912.00

$1,425.00

Discussion

Question 123

Felipe is a Dealing Representative who is developing a non-registered investment solution for Laryssa. Felipe is debating between recommending either mutual fund trusts or mutual fund corporations. He wants to recommend an investment that reduces Laryssa's exposure to taxation.

Which feature may influence his recommendation?

Options:

Distributions from mutual fund corporations are not taxable to investors.

Mutual fund trusts can only distribute capital gains and Canadian dividends.

Capital losses may be distributed from mutual fund corporations.

Any income received by a mutual fund corporation is distributed in the form of either capital gains or Canadian dividends.