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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Evaluating and Selecting Mutual Funds | 16% | |
| Topic 2: Ethics, Compliance, and Mutual Fund Regulation | 16% | |
| Topic 3: Introduction to the Mutual Funds Marketplace | 13% | |
| Topic 4: Understanding Alternative Managed Products | 3% | |
| Topic 5: Understanding Investment Products and Portfolios | 18% | |
| Topic 6: Analysis of Mutual Funds | 10% | |
| Topic 7: The Know Your Client Communication Process | 19% | |
| Topic 8: The Modern Mutual Fund | 5% |
>> IFC Latest Test Discount <<
The Investment Funds in Canada (IFC) Exam IFC certification provides both novices and experts with a fantastic opportunity to show off their knowledge of and proficiency in carrying out a particular task. With the CISI IFC exam, you will have the chance to update your knowledge while obtaining dependable evidence of your proficiency. You can also get help from actual Investment Funds in Canada (IFC) Exam IFC Exam Questions and pass your dream Investment Funds in Canada (IFC) Exam IFC certification exam.
NEW QUESTION # 315
Frederic recently sold his units in a US dollar (USD) denominated mutual fund. He wants to convert the proceeds back to Canadian dollars (CAD). If he received proceeds of $1,200 USD from the sale and the exchange rate is $1 CAD for $0.99 USD, how much will Frederic receive in Canadian dollars?
Answer: B
Explanation:
To convert the proceeds from USD to CAD, Frederic needs to divide the amount in USD by the exchange rate. The exchange rate is $1 CAD for $0.99 USD, which means that $0.99 USD is equivalent to $1 CAD.
Therefore, Frederic will receive
A math problem with numbers AI-generated content may be incorrect.
CAD in Canadian dollars.
NEW QUESTION # 316
What does a Sharpe ratio of 1 indicate?
Answer: D
Explanation:
NEW QUESTION # 317
Quintin has been a Dealing Representative for Global Maximum Financial for 5 years. Today, he opened an account for his new client, Reginald. In addition to opening a new account, Reginald agreed to accept Quintin's investment recommendation and placed a purchase order to buy units of the Global Maximum Value Equity fund.
Quintin informed his Branch Manager Lupita about this new account on the same day the purchase order was received. Lupita told Quintin that she would complete her review of the New Client Application Form (NCAF) by no later than tomorrow.
Which statement regarding this new account opening is CORRECT?
Answer: D
Explanation:
According to the MFDA Rules, a Dealing Representative must not accept any purchase orders from a client until the Branch Manager or other designated person has reviewed and approved the New Client Application Form (NCAF) for the client. This is to ensure that the Dealing Representative has obtained and verified all the necessary information about the client, such as identity, investment objectives, risk tolerance, financial situation, and suitability of investments. The review and approval of the NCAF must be completed before any trades are executed for the client, unless there are exceptional circumstances that justify a delay. In this case, Quintin should have waited for Lupita's approval of the NCAF before placing the purchase order for Reginald.
1: MFDA Rules as at December 31, 2021 - MFDA 2 (Rule 2.2.4)
NEW QUESTION # 318
What is the process of selecting specific industries from which stocks will be chosen for the portfolio?
Answer: C
Explanation:
Comprehensive Explanation with CSC References:
The process of selecting specific industries (sectors) from which stocks are chosen is called sector weighting.
Strategic asset allocation (A) refers to long-term allocation among asset classes (stocks, bonds, cash).
Market timing (C) is an attempt to profit from predicting market movements.
Passive management (D) involves tracking an index with little or no active stock/sector selection
NEW QUESTION # 319
Khuyen is a Dealing Representative for Stark Contrast Investments. Her dealer has relationships with 20 different mutual fund families. This gave her the flexibility to sell two different types of funds from two different fund families to her client, Bao. $5,000 was invested in the Blue Moon Global Balanced fund and an additional $5,000 was invested in the Orange Sun Asset Allocation fund. Khuyen has been reviewing the performance of both funds and has determined that Bao would be better off being fully invested in the Blue Moon Global Balance fund. Bao had previously signed a Limited Authorization Form (LAF) for Khuyen, so she goes ahead and does not worry about consulting with Bao before making the change.
What type of activity has Khuyen performed?
Answer: C
Explanation:
Discretionary trading is a type of trading activity where the advisor makes investment decisions on behalf of the client without obtaining the client's prior consent for each transaction. Discretionary trading is only allowed if the client has signed a discretionary management agreement with the advisor and the advisor is registered as a portfolio manager. A limited authorization form (LAF) does not grant the advisor the authority to engage in discretionary trading. A LAF only allows the advisor to execute trades that are initiated by the client, such as pre-authorized contributions or withdrawals. Therefore, Khuyen has performed discretionary trading by switching Bao's funds without consulting him, which is a violation of her registrant responsibilities and ethical standards. References:
* Canadian Investment Funds Course (CIFC) Study Guide, Chapter 2: The Sales Process, Section 2.4:
Ethics and Compliance, page 2-161
* Discretionary Trading Definition - Investopedia2
NEW QUESTION # 320
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