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NEW QUESTION # 316
Your employer has a contributory group RRSP under which he matches employee contributions, up to a maximum of 5% of salary.
Which of the following statements about a group registered retirement savings plan (RRSP) is CORRECT?
Answer: A
Explanation:
A group RRSP is a retirement savings plan sponsored by an employer that allows employees to contribute through regular payroll deductions and benefit from tax advantages and possible employer matching. The employer is responsible for choosing the plan provider, which is the financial institution that administers the group RRSP and offers a range of investment options for the employees to choose from. The employer may also negotiate lower fees and better services with the plan provider than what individual RRSPs can offer.
Therefore, statement D is correct.
The other statements are incorrect for the following reasons:
Statement A: A group RRSP is less costly and time consuming to administer than traditional pension plans, as it does not require actuarial valuations, funding requirements, or regulatory filings.
Statement B: If you leave your employer, your group RRSP does not stay with the employer. You can transfer your group RRSP to an individual RRSP or another registered plan without tax consequences, as long as there are no locked-in provisions.
Statement C: You do not need to wait until you file your taxes to receive your contribution tax deduction.
Your contributions are deducted from your gross income before tax is calculated, so you receive an immediate tax benefit on your paycheque.
Canadian Investment Funds Course, Unit 9, Section 9.1
NEW QUESTION # 317
Which statement CORRECTLY describes index mutual funds and traditional exchange-traded funds (ETFs)?
Answer: C
Explanation:
Index mutual funds and traditional exchange-traded funds (ETFs) are both types of investment funds that use a passive investment management style, which means they try to track the performance of a specific market index, such as the S&P/TSX Composite Index or the S&P 500 Index. They do so by holding the same securities as the index or a representative sample of them, and by adjusting their portfolio composition and weighting to reflect any changes in the index. However, both types of funds may not be able to exactly replicate the return of the index for various reasons, such as fees, expenses, tracking error, rebalancing frequency, dividend reinvestment, and cash holdings. Therefore, there may be some deviation or difference between the fund's return and the index's return, which is called tracking difference.
1: Canadian Investment Funds Course, Chapter 4: Types of Investments1
NEW QUESTION # 318
The fund manager for the VT Canadian Equity Fund looks for stocks that are out of favour and trading for less than their intrinsic value. What equity investing philosophy is the fund manager following?
Answer: B
Explanation:
The manager is following a value investing philosophy. Value investors attempt to identify securities whose market prices are below their estimated intrinsic or fundamental value. Such companies may temporarily be out of favour because of weak sentiment, disappointing short-term results, or broader market conditions, even though the manager believes their underlying financial value is greater than the current market price. The investment thesis is that the market will eventually recognize this discrepancy and the security ' s price will move closer to intrinsic value. Momentum investing instead favours securities already displaying strong price trends. Sector rotation emphasizes shifting portfolio weight among industries according to the economic cycle. Growth at a reasonable price focuses on companies with attractive growth prospects without paying an excessive valuation. Because the scenario specifically emphasizes out-of-favour, undervalued stocks , C.
Value investing is correct.
NEW QUESTION # 319
Maureen is 65 years old and will be retiring soon. She has a modest portfolio of mutual funds that focus on growth. As she approaches retirement, Maureen wants to switch to investments that provide steady income with low to medium risk.
Given Maureen's wishes, which of the following mutual funds would be suitable for her?
Answer: B
Explanation:
Maureen is looking for investments that provide steady income with low to medium risk. Money market funds, mortgage funds, and bond funds are suitable for her because they invest in fixed-income securities that pay regular interest and have lower volatility than equity funds. Money market funds invest in short-term debt instruments such as treasury bills and commercial paper. Mortgage funds invest in mortgages or mortgage- backed securities that are secured by real estate properties. Bond funds invest in bonds issued by governments or corporations with varying maturities and credit ratings. References: 9 Best Retirement Income Funds Of
2023 - Forbes Advisor, 5 Best Income Funds for Retirement - U.S. News, 7 Best Funds for Retirement | Investing | U.S. News
NEW QUESTION # 320
Louis is the portfolio manager for Quattro Fund. The mandate of the mutual fund is to invest in a combination of cash, fixed income, and equity securities; however, Louis has the ability to adjust the portfolio according to market conditions. If Louis feels that interest rates will fall, he could invest the whole portfolio in equities. If he feels the market is too high, he could take profits and sit totally in cash. What type of mutual fund is Quattro Fund?
Answer: D
Explanation:
An asset allocation fund is a type of mutual fund that invests in a combination of cash, fixed income, and equity securities, but has the flexibility to adjust the portfolio according to market conditions and the fund manager's outlook. The fund manager can change the asset mix to take advantage of opportunities or reduce risks in different asset classes and markets. The fund's objective is to achieve a balanced risk-return profile by diversifying across different assets and investment styles. Quattro Fund is an example of an asset allocation fund, as it can invest in cash, fixed income, and equity securities, and Louis can adjust the portfolio according to his views on interest rates and the market.
1: Canadian Investment Funds Course, Unit 6, Section 6.2; 4; 5; 6
NEW QUESTION # 321
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