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NEW QUESTION # 458
What response would a loss-averse investor be most likely to choose in selecting a preferred investment return scenario?
Answer: D
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Loss-averse investors prioritize minimizing potential losses over maximizing gains. The option with a 25% chance of gaining $2,000 and a 75% chance of losing nothing has the lowest loss potential, making it the preferred choice. The feedback from the document states:
"The loss-averse investor will choose a lower potential of loss over a more rational choice. In this example, a
25% chance of gaining $2,000 and a 75% chance of losing nothing has the lowest possible loss potential, and will typically be the statement selected by the loss-averse investor." Reference:Chapter 5 - Behavioural FinanceLearning Domain:The Know Your Client Communication Process
NEW QUESTION # 459
What is a statistical measure of price fluctuation that illustrates how a stock's price fluctuates around its average?
Answer: C
NEW QUESTION # 460
Your client earns $100,000 from employment and $10,000 from investments each year. Her bills total
$95,000 annually. What is her discretionary income?
Answer: A
Explanation:
Discretionary income is the amount left after subtracting expenses from total income, available for savings or investments. Total income = $100,000 (employment) + $10,000 (investments) = $110,000. Subtracting
$95,000 in bills gives $110,000 - $95,000 = $15,000. The feedback from the document states:
"Discretionary income eligible for savings and investments is the difference between the amount of money coming in from employment and other sources and the amount of money going out to pay bills. In this example, $100,000 + $10,000 - $95,000 = $15,000." Reference: Chapter 4 - Getting to know the clientLearning Domain: The Know Your Client Communication Process
NEW QUESTION # 461
What personal information must be obtained from clients opening a non-registered account?
* Date of birth
* Social insurance number
* Permanent address
* Full legal name
Answer: C
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
For non-registered accounts, the mandatory personal information includes the client's full legal name and permanent address, while date of birth and social insurance number are recommended but not required. The feedback from the document states:
"The first step as a dealing representative is to obtain a client's personal data including full legal name, permanent and mailing address, social insurance number and date of birth. While a permanent address is mandatory, providing a different mailing address is optional. Neither the social insurance number nor date of birth are mandatory for non-registered accounts, but both are highly recommended." Reference:Chapter 17 - Mutual Fund Dealer RegulationLearning Domain:Ethics, Compliance and Mutual Fund Regulations
NEW QUESTION # 462
Your client has very limited investment knowledge and is confused about what is meant by " marginal tax rate
" . What do you tell him?
Answer: C
Explanation:
The marginal tax rate is the percentage of tax that an individual pays on the last dollar of income earned in a given year. It is also the tax rate that applies to any additional income earned in that year. The marginal tax rate varies depending on the individual's income level and tax bracket. For example, if an individual's taxable income for the year is $50,000 and the tax rate for that income bracket is 20%, then the marginal tax rate is
20%. This means that the individual pays 20% tax on the last dollar of income earned, as well as on any additional income earned above $50,000.
References = Canadian Investment Funds Course, Unit 5: Types of Investments, Lesson 6: Taxation, Section
5.6.1: Income Tax 1; CIFC prepkit, Chapter 5: Types of Investments, Question 5.6.1 2
NEW QUESTION # 463
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