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NEW QUESTION # 123
On which exchange will an investor be able to purchase a senior equity?
Answer: D
Explanation:
The Toronto Stock Exchange (TSX) is Canada ' s principal marketplace for established or "senior" publicly traded equity issuers. The IFC material associates major Canadian equity market indexes such as the S & P
/TSX Composite and S & P/TSX 60 with large, liquid companies listed on the Toronto Stock Exchange. The TSX Venture Exchange, by contrast, is associated primarily with earlier-stage and smaller issuers and is therefore generally described as the junior marketplace. The Montreal Exchange serves a fundamentally different purpose: the IFC material identifies it as Canada ' s exchange specializing in financial and equity futures and options rather than conventional senior equity listings. The Canadian Securities Exchange also primarily serves emerging issuers. Therefore, an investor seeking a senior equity would ordinarily purchase it through the Toronto Stock Exchange , making C correct.
NEW QUESTION # 124
Which of the following statements describes a feature of the Home Buyers' Plan (HBP)?
Answer: B
Explanation:
The Home Buyers' Plan (HBP) is a program that allows eligible first-time home buyers to withdraw up to
$35,000 from their registered retirement savings plans (RRSPs) to buy or build a qualifying home without paying any tax on the withdrawal. The withdrawn amount must be repaid to the RRSP over a period of up to
15 years, starting from the second year after the withdrawal. If the required repayment for a year is not made, it is added to the taxpayer's income and subject to tax. Therefore, option B describes a feature of the HBP.
The other options are not correct descriptions of the HBP. Option A is false because to qualify as a first-time home buyer, you or your spouse must not have owned and lived in another home as your principal place of residence during the four-year period before the date of withdrawal. Option C is false because a qualifying home must be purchased or built before October 1 of the year following the year of withdrawal. Option D is false because if you have a spouse or common-law partner, each of you can withdraw up to $35,000 from your RRSPs, not $50,000. References: [Home Buyers' Plan (HBP)], [Home Buyers' Plan (HBP) - Canada.ca],
[Home Buyers' Plan (HBP) | GetSmarterAboutMoney.ca]
NEW QUESTION # 125
Which of the following statements about global equity funds is TRUE?
Answer: B
Explanation:
Global equity funds are a type of investment fund that invests in equity securities of companies from different countries around the world, including the investment fund manager's home country. Global equity funds aim to provide diversification and growth potential by taking advantage of the opportunities and risks in various markets and regions. Global equity funds may have different geographic, sectoral, or thematic focuses, depending on their investment objectives and strategies. Global equity funds are different from international equity funds, which invest only in countries outside of the investment fund manager's home country. Global equity funds are also different from regional or country-specific equity funds, which specialize in one or a few countries or regions. Global equity funds may have higher risk than domestic equity funds, as they are exposed to currency risk, foreign market risk, political risk, and regulatory risk.
Canadian Investment Funds Course, Chapter 4: Types of Investments1
NEW QUESTION # 126
Ai Fen has recently become registered to sell mutual funds with Acadian Eastern Financial, a mutual fund dealer. Ai Fen determined that with her background of being a Chartered Financial Analyst, she can help people understand the nature of investing more easily than others in her field.
Which registration category will need to be prominently noted on Ai Fen's business card to comply with the
"holding out rule"?
Answer: C
Explanation:
The holding out rule is a regulatory requirement that prohibits registered individuals from using any title or designation other than their registration category when dealing with clients or potential clients. The purpose of this rule is to prevent misleading or confusing representations about the qualifications, roles, and responsibilities of registered individuals. According to Section 4.4 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103), individuals who are registered to sell mutual funds must use the title "dealing representative" when holding out to clients or potential clients.
Therefore, Ai Fen must prominently note "dealing representative" on her business card to comply with the holding out rule. The other options are not valid registration categories for selling mutual funds. Option B is a generic term that does not specify the type of securities that can be sold. Option C is a registration category for individuals who trade securities on behalf of an investment dealer. Option D is a professional designation that does not indicate registration status. References: [Holding Out Rule], [Registration Categories],
[Registration Requirements, Exemptions and Ongoing Registrant Obligations]
NEW QUESTION # 127
Danny is a Dealing Representative for Everbright Investments. He met with his client Adele, who has
$1,000,000 to invest. During their meeting Danny determines that Adele has a high-risk profile. In addition, he learns that she has an excellent understanding of equities and how volatile they can be. Danny is considering recommending growth funds specifically, and making a recommendation from the following investment options:
Based on the information provided, which mutual fund should Danny recommend?
Answer: C
Explanation:
Adele has a high-risk profile and an excellent understanding of equities. Therefore, it would be appropriate for Danny to recommend growth funds. However, since Adele has $1,000,000 to invest, it would be prudent to diversify her investments and invest equally in all 3 funds. This way, she can benefit from the exposure to different regions and sectors, and reduce the impact of market fluctuations on her portfolio. Based on the table, all 3 funds have the same 5-year annualized returns net of MER, which is 15%. However, they have different MERs and Sharpe ratios. The MER is the fee charged by the fund manager for managing the fund, and the Sharpe ratio is a measure of risk-adjusted return. A lower MER means a lower cost for the investor, and a higher Sharpe ratio means a higher return per unit of risk. Therefore, investing equally in all 3 funds would allow Adele to achieve a balanced trade-off between cost and performance. References:
Canadian Investment Funds Course (CIFC) Study Guide, Chapter 4: Mutual Funds, Section 4.2: Types of Mutual Funds, page 4-6 Canadian Investment Funds Course (CIFC) Study Guide, Chapter 5: Fixed-Income Securities, Section 5.5:
Risk-Return Trade-Offs, page 5-14
Sharpe Ratio Definition - Investopedia
NEW QUESTION # 128
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