Expert Answers to IFSE Institute Exam CIFC Questions

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Investments & Banking Canadian Investment Funds Course Exam

Canadian Investment Funds Course Exam

Last Update Apr 27, 2024
Total Questions : 224

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Questions 4

Karen’s know your client (KYC) profile corresponds to someone who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She watches the daily movements of the Toronto Stock Exchange (TSX) and wants a mutual fund that will closely match what she sees.

What kind of mutual fund would be BEST for her?

Options:

Canadian small capitalization equity fund

Canadian equity index fund

Canadian dividend fund

Canadian bond fund

Discussion 0

Questions 5

Jasmine purchases a 1-year, $10,000 face value strip bond for $9,600. At maturity, when Jasmine receives $10,000, which of the following statements is CORRECT?

Options:

Jasmine realizes a capital dividend of S400.

Jasmine realizes a taxable dividend of $400.

Jasmine realizes a taxable capital gain of $400.

Jasmine realizes interest income of $400.

Discussion 0

Questions 6

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 0

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Questions 7

Barend is a Dealing Representative with Planvest Group Inc., a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA). Which of the following CORRECTLY describes

Barend's obligation for conflicts of interest?

Options:

Barend must identify material conflicts of interest and implement controls on behalf of the firm.

Barend must disclose material conflicts of interest that cannot be addressed in the best interest of the client.

Barend must avoid material conflicts of interest that cannot be addressed in the best interest of the client.

Barend must identify material conflicts of interest and promptly report the conflicts of interest to clients.

Discussion 0

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2024-04-12