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IFSE Institute Latest Braindumps CIFC Ebook - The Best CIFC Test Cram Pdf and Professional Canadian Investment Funds Course Exam Examcollection Vce

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IFSE Institute CIFC Exam Syllabus Topics:

Topic
Details

Topic 1

Portfolio Management This section of the exam measures the skills of portfolio advisors and covers the principles behind building and managing a diversified investment portfolio. It focuses on asset allocation, diversification strategies, and rebalancing techniques.

Topic 2

Suitability: This section of the exam measures the skills of financial planners and covers how to determine whether an investment product matches a client's profile. It focuses on risk tolerance, time horizon, and financial goals when offering investment choices.

Topic 3

Making Recommendations & Case Study: This section of the exam measures the skills of client advisors and covers the practical application of investment knowledge through real-world client scenarios. It involves synthesizing client information to make suitable investment recommendations.

Topic 4

Mutual Funds Administration: This section of the exam measures the skills of operations specialists and covers the processes that support the day-to-day functioning of mutual funds. It includes trading, recordkeeping, pricing, and compliance reporting.

Topic 5

Regulatory Environment: This section of the exam measures the skills of compliance officers and covers the key laws, rules, and regulatory bodies that oversee the mutual fund industry. It ensures professionals understand the legal framework in which firms and representatives operate.

IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q42-Q47):

NEW QUESTION # 42
Maxine is a portfolio manager who 15 years ago, purchased 100 shares of Never2Tacky, a social media corporation for Aspirations Global Technology Fund. She purchased the stock when it was trading at $10. Last year, the peak market price was $120. Presently, it is trading at $99. News agencies are now reporting that additional regulations regarding social media companies are about to be agreed upon by G7 countries. Maxine is concerned the market value of Never2Tacky is going to drop. She buys a put option with an exercise price of $95 with an expiry of 9 months.
What type of strategy is Maxine using?

A. Passively managing
B. Speculating
C. Hedging
D. Modern portfolio theory

Answer: C

Explanation:
Explanation
A put option is a contract that gives the buyer the right, but not the obligation, to sell a certain amount of an underlying security at a specified price within a specified time frame. A put option increases in value as the price of the underlying security decreases, and vice versa. Therefore, buying a put option can be used as a hedging strategy to protect against downside risk or loss in the value of the underlying security. In this case, Maxine is using a put option to hedge against the potential drop in the market value of Never2Tacky due to the regulatory changes. If the price of Never2Tacky falls below $95, she can exercise the put option and sell her shares at $95, limiting her loss. If the price of Never2Tacky stays above $95, she can let the put option expire and keep her shares, paying only the premium for the option. Buying a put option is not speculating, as it does not involve taking a high-risk position in anticipation of a favorable outcome. It is also not related to modern portfolio theory or passive management, which are different concepts in investment analysis. References: Put Option: What It Is, How It Works, and How to Trade Them, Put Options: What They Are and How They Work, Put: What It Is and How It Works in Investing, With Examples

NEW QUESTION # 43
Your clients, Philip and Helen, have a disabled son, Alex, age 22. They want to set up a registered disability savings plan (RDSP) for Alex and have asked you for some information.
Which statement is TRUE?

A. Philip and Helen's contributions are tax-deductible.
B. Alex must quality for the disability tax credit.
C. Philip and Helen's contributions are refundable to them.
D. There is no annual or lifetime maximum limit on contributions.

Answer: B

Explanation:
Explanation
A registered disability savings plan (RDSP) is a savings plan intended to help parents and others save for the long-term financial security of a person who is eligible for the disability tax credit (DTC). The DTC is a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay. To be eligible for the DTC, a person must have a severe and prolonged impairment in physical or mental functions, as defined by the Income Tax Act and as certified by a medical practitioner. Therefore, Alex must qualify for the DTC in order to be eligible for an RDSP. References: What is a registered disability savings plan (RDSP) - Canada.ca, Disability tax credit - Canada.ca

NEW QUESTION # 44
Pierre wants to discuss the merits of a specific mutual fund with his Dealing Representative, Simone. There are no trailer fees associated with this fund. Simone is familiar with the mutual fund that Pierre is referring to, which is not offered by her dealer. They schedule an appointment to further discuss his investment portfolio.
Which behaviour from Simone is ethical?

A. Knowing Pierre does not like that her dealer's funds have trailer fees, she chooses not to discuss the relationship between trailer fees and MER while making comparisons.
B. When comparing her dealer's own mutual funds to the one Pierre discovered, Simone emphasizes the importance of similar net rates of return and minimizes the significance of management expense ratios (MERs).
C. While comparing Fund Facts of the different mutual funds, Simone points out that not only are the fund management expenses different but so are the investor profiles for each fund.
D. Simone's ability to keep her knowledge current on competitors' investment offerings shows that she is putting her client's interest first.

Answer: C

NEW QUESTION # 45
Winter is a Dealing Representative with Top Tier Investing, a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA). Which of the following statements about Winter's suitability obligation is CORRECT?
Winter is required to make a suitability determination every time:
i) she makes a recommendation to a client
ii) a client's investment returns decline.
iii) she opens a new client account
iv) the markets fluctuate.

A. ii and iii
B. iii and iv
C. i and ii
D. i and iii

Answer: D

Explanation:
Explanation
According to the MFDA Rules, a Dealing Representative is required to make a suitability determination every time:
The Dealing Representative makes a recommendation to a client;
The Dealing Representative accepts a trade instruction from a client;
The Dealing Representative opens a new account for a client or changes the account type; The Dealing Representative becomes aware of a material change in the client's KYC information; Securities are transferred or re-registered into the client's account; or There has been a change in the Approved Person responsible for the client's account2 A suitability determination is the process of ensuring that any investment action taken for a client is suitable for the client based on their KYC information, such as investment objectives, risk tolerance, time horizon, financial situation, and investment knowledge. A suitability determination also requires putting the client's interests first and disclosing any material factors involved in the investment action2 Therefore, Winter is required to make a suitability determination every time she makes a recommendation to a client (i) or she opens a new client account (iii). She is not required to make a suitability determination every time a client's investment returns decline (ii) or the markets fluctuate (iv), unless these events trigger a material change in the client's KYC information or affect the suitability of the client's portfolio.
References: 1: MSN-0069 | MFDA 2 (Know-Your-Client (KYC) and Suitability)

NEW QUESTION # 46
Yesterday, Mariana purchased mutual funds for the first time from Diablo, who is a Dealing Representative for Horizon Financial. When Mariana mentions to her friend Marcus that she just started to invest, Marcus confides that he experienced losses from mutual fund investing. Her initial feelings of excitement have now changed to worry and regret. She wished she had talked to her friend before investing and wonders if she can change her mind.
Which statement regarding the right of withdrawal applies?

A. The right of withdrawal is based on the securities act legislation within the jurisdiction the purchase occurred.
B. How the right of withdrawal can be applied is determined by the Mutual Fund Dealers Association of Canada's conduct rules.
C. The Canadian Securities Administrators have instituted national instruments regarding Mariana's right to cancel her order.
D. Before Mariana can cancel her order, she must wait two business days to pass before she can cancel her order.

Answer: A

Explanation:
Explanation
The right of withdrawal is a statutory right that allows investors to cancel their mutual fund purchase within two business days of receiving the Fund Facts document or confirmation of purchase, whichever is later. The right of withdrawal is based on the securities act legislation within the jurisdiction where the purchase occurred, which may vary slightly across provinces and territories. References: Canadian Investment Funds Course (CIFC) | IFSE Institute

NEW QUESTION # 47
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