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The Best Sample CIFC Questions Pdf bring you Trustworthy Frequent CIFC Updates for IFSE Institute Canadian Investment Funds Course Exam

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IFSE Institute CIFC Exam Syllabus Topics:

Topic
Details

Topic 1

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 2

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 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

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 5

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 6

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 7

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 8

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 9

Economic Factors and Financial Markets: This section of the exam measures the skills of market analysts and covers the basic economic principles and financial market structures that impact investment performance. It includes interest rates, inflation, and economic cycles as they relate to investment decision-making.

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IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q113-Q118):

NEW QUESTION # 113
Which statement regarding the underwriting process and over-the-counter (OTC) markets is CORRECT?

A. The disclosure standards for stock exchanges are not as stringent as those imposed by the OTC market.
B. Many new stock issues that are underwritten by securities firms are first listed on a stock exchange before they are sold over-the-counter.
C. Corporations must have their shares listed both on an exchange and the OTC market during the underwriting process.
D. During the underwriting process investment bankers raise investment capital from investors on behalf of corporations and governments issuing securities.

Answer: D

NEW QUESTION # 114
Which of the following statements are CORRECT about labour sponsored investment funds (LSIFs)?

A. All provinces offer some sort of additional tax credit for investors.
B. LSIFs are suitable for investors with a low risk tolerance.
C. Investors will forfeit their tax credits if they redeem their LSIF investment before 8 years have elapsed.
D. LSIFs are appropriate for investors with a short-term time horizon.

Answer: C

Explanation:
Explanation
LSIFs are a type of investment fund that provide venture capital to small and medium-sized Canadian businesses, while offering tax benefits to investors. However, LSIFs are also considered high-risk and illiquid investments, as they invest in private companies that may not have a proven track record or marketability.
Therefore, LSIFs are not suitable for investors with a short-term time horizon or a low risk tolerance. Investors who buy LSIFs receive a 15% federal tax credit and may also receive an additional provincial tax credit, depending on the province where they reside. However, these tax credits are conditional on holding the LSIF investment for at least 8 years. If investors redeem their LSIF investment before the 8-year period, they will have to repay the tax credits they received.
References: Canadian Investment Funds Course, Chapter 4: Types of Investments1

NEW QUESTION # 115
Francis wants to redeem his US Asset Allocation Fund as he needs the money for a down payment for a home purchase. The current proceeds from the redemption are USD $27,859, and the current CAD/USD exchange rate is 0.7353.
How much will Francis receive in Canadian dollars when he redeems the Funds? Please round your answer to the nearest dollar.

A. $37,888
B. $35,859
C. $36,698
D. $42,861

Answer: A

NEW QUESTION # 116
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. Dividends from a large public Canadian corporation.
C. Capital gains from stock investments.
D. Dividends received from a large foreign corporation.

Answer: B

Explanation:
Explanation
Dividends from a large public Canadian corporation are eligible for the dividend tax credit, which reduces the amount of tax payable on this type of income. The dividend tax credit is a non-refundable tax credit that recognizes that dividends are paid out of income that has already been taxed at the corporate level, and therefore should not be taxed again at the personal level. The dividend tax credit applies to both federal and provincial taxes, and the rates vary depending on the province or territory of residence12 References = Canadian Investment Funds Course (CIFC) - Module 4: Taxation - Section 4.1: Taxation of Investment Income3 and web search results from search_web(query="tax treatment of different types of investment income in Canada")12
3: https://www.ifse.ca/wp-content/uploads/2021/08/CIFC-Module-4.pdf

NEW QUESTION # 117
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?

A. The NAVPU of the mutual fund does not change after the distribution since Sean reinvests his distribution and purchases additional units.
B. Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.
C. The total value of Sean's mutual fund holdings after the distribution and reinvestment is $9,875.
D. After the distribution. Sean will have J&625 in cash and JB8.350 worth of the Penn Canadian Equity Fund.

Answer: B

Explanation:
Explanation
Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.
When a mutual fund declares a distribution, it reduces its NAVPU by the amount of the distribution per unit.
In this case, the NAVPU drops from $21 to $19.75 after the distribution of $1.25 per unit. Sean's distribution is $625 ($1.25 x 500 units), which he reinvests in the mutual fund at the new NAVPU of $19.75. He receives

additional units. The total value of Sean's mutual fund holdings after the distribution and reinvestment is (500+31.65)*19.75=$10,500
, not $9,875. The NAVPU of the mutual fund does change after the distribution, regardless of whether Sean reinvests his distribution or not. References: [Unit 7: Mutual Funds Administration]

NEW QUESTION # 118
......

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