CIFC STUDY TOOL - CIFC TEST TORRENT & CANADIAN INVESTMENT FUNDS COURSE EXAM GUIDE TORRENT

CIFC Study Tool - CIFC Test Torrent & Canadian Investment Funds Course Exam Guide Torrent

CIFC Study Tool - CIFC Test Torrent & Canadian Investment Funds Course Exam Guide Torrent

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Tags: Latest CIFC Exam Review, CIFC Valid Exam Fee, CIFC Vce Download, Reliable CIFC Test Pattern, CIFC Exam Pattern

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IFSE Institute CIFC Exam Syllabus Topics:

TopicDetails
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
  • Types of Investments: This section of the exam measures the skills of wealth managers and covers the features, risks, and benefits of various investment products. It ensures understanding of stocks, bonds, ETFs, GICs, and other instruments typically included in diversified portfolios.
Topic 3
  • 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.
Topic 4
  • Types of Mutual Funds: This section of the exam measures the skills of fund sales representatives and covers the structure, benefits, and objectives of different mutual fund categories. It includes equity, fixed income, balanced, index, and specialty funds.
Topic 5
  • Retirement: This section of the exam measures the skills of retirement planners and covers the investment planning strategies and account types used to prepare for retirement. It includes registered plans, income needs, and withdrawal planning.
Topic 6
  • Registrant Responsibilities: This section of the exam measures the skills of investment advisors and covers the obligations and ethical duties that come with being a registered professional. It includes understanding know-your-client procedures, disclosure rules, and the importance of acting in clients’ best interests.
Topic 7
  • 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 8
  • 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.

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CIFC Valid Exam Fee & CIFC Vce Download

TestPassed has many Canadian Investment Funds Course Exam (CIFC) practice questions that reflect the pattern of the real Canadian Investment Funds Course Exam (CIFC) exam. TestPassed allows you to create a Canadian Investment Funds Course Exam (CIFC) exam dumps according to your preparation. It is easy to create the IFSE Institute CIFC practice questions by following just a few simple steps. Our Canadian Investment Funds Course Exam (CIFC) exam dumps are customizable based on the time and type of questions. You have the option to change the topic and set the time according to the actual Canadian Investment Funds Course Exam (CIFC) exam.

IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q211-Q216):

NEW QUESTION # 211
Which of the following best describes implied needs of your clients?

  • A. They are needs reflected by statements made by clients regarding problems and dissatisfactions.
  • B. They are statements made by you showing readiness to solve a client's problem.
  • C. They are statements of wants and needs made by clients.
  • D. They are statements made by clients expressing the desire for lower commissions.

Answer: A


NEW QUESTION # 212
Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She is wondering if it is too late to change her mind and cancel her purchase order.
Which statement regarding the right of withdrawal is CORRECT?

  • A. The Mutual Fund Dealers Association of Canada (MFDA) have written conduct rules regarding the right of withdrawal.
  • B. The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within.
  • C. Mariana has to wait two business after her purchase order has been settled to exercise the right of withdrawal.
  • D. The Canadian Securities Administrators (CSA) created legislation that addresses the right of withdrawal for investors.

Answer: B

Explanation:
Explanation
The right of withdrawal is a statutory right that allows investors to cancel their purchase order of mutual funds within a specified period of time and receive a refund of the amount they paid. The right of withdrawal is also known as the cooling-off period or the rescission right. The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within, as each jurisdiction has its own securities legislation and regulations that govern the mutual fund industry. For example, in Ontario, the right of withdrawal is two business days after receiving the simplified prospectus or the fund facts document, whichever is later1. In Quebec, the right of withdrawal is two business days after receiving the simplified prospectus or confirmation of purchase, whichever is later2. In British Columbia, the right of withdrawal is 48 hours after receiving confirmation of purchase3. Therefore, Mariana may still be able to exercise her right of withdrawal, depending on where she bought her mutual funds and when she received the required documents. References:
Canadian Investment Funds Course (CIFC) Study Guide, Chapter 3: The Regulatory Environment, Section 3.2: The Right of Withdrawal, page 3-54 Ontario Securities Commission - Mutual Funds - Buying and Selling1 Autorite des marches financiers - Mutual Funds - Buying and Selling2 British Columbia Securities Commission - Mutual Funds - Buying and Selling3


NEW QUESTION # 213
Sujay contributes 3% of his $60,000 salary to his employer's defined contribution pension plan. His employer contributes the same amount to the plan. How will this affect his registered retirement savings plan (RRSP) contribution room for the year?

  • A. It will have no effect. RRSP contribution room is based on earned income only.
  • B. It will reduce Suiay's contribution room by
  • C. It will reduce Suiay's contribution room by $3,600.
  • D. It will reduce Suiay's contribution room by 51,800.

Answer: C

Explanation:
Explanation
D is correct because Sujay's registered retirement savings plan (RRSP) contribution room for the year will be reduced by $3,600. This is because his employer's defined contribution pension plan is considered a registered pension plan (RPP), which affects his RRSP contribution room through a pension adjustment (PA). The PA is calculated as 18% of his earned income in the previous year minus his RPP contributions in the current year.
In this case, Sujay's PA for the current year is $3,600, which is 18% of his $60,000 salary minus his 3% contribution ($1,800) and his employer's 3% contribution ($1,800). The PA reduces his RRSP contribution room for the next year by the same amount. It will have an effect on his RRSP contribution room (A), as it is not based on earned income only, but also on RPP contributions. It will not reduce his contribution room by
$51,800 (B), as this is more than his earned income. It will not reduce his contribution room by $10,800 , as this is 18% of his earned income without subtracting his RPP contributions. References: Canadian Investment Funds Course (CIFC) | IFSE Institute


NEW QUESTION # 214
Which of the following is a conflict of interest that should be AVOIDED?

  • A. Davu's client, Ester, wants him to refer her to an accountant to help her with filing her tax return.
  • B. Arilla's client, Gwen, wants to co-invest with Arilla in units of a real estate limited partnership.
  • C. Fred's client, Hildie, wants to buy a life insurance policy and Fred is dually licensed as an Insurance Agent.
  • D. Jamal's client, Laila, wants to buy the Focus Canadian Growth Fund that pays Jamal trailer fees.

Answer: B

Explanation:
Explanation
A conflict of interest is a situation in which a person's personal interests conflict with their professional duties or responsibilities. A conflict of interest should be avoided or disclosed to prevent harm to the client or the registrant. In this case, Arilla's client, Gwen, wants to co-invest with Arilla in units of a real estate limited partnership. This is a conflict of interest because Arilla may have a personal interest in the investment that could influence her advice to Gwen or affect her ability to act in Gwen's best interest. For example, Arilla may benefit from the investment at Gwen's expense, or she may have access to information that Gwen does not have. Therefore, this is a conflict of interest that should be avoided by Arilla. She should decline Gwen's offer and explain that it would compromise her professional obligations and fiduciary duty to Gwen.
References: Canadian Investment Funds Course, Unit 2, Section 2.3


NEW QUESTION # 215
Bernadette has a high-paying job and is in the top tax bracket. She recently received a payment of $5 million upon the settlement of her uncle's estate. Bernadette would like to invest her inheritance in financial products that would not only grow her money but is also income tax friendly.
Which of the following would provide the most favourable tax treatment?

  • A. Coupon payments from Government of Canada bonds.
  • B. Eligible dividends from a publicly-listed Canadian corporation
  • C. Capital gains from a large Canadian corporation.
  • D. Dividends received from a large foreign corporation.

Answer: B


NEW QUESTION # 216
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