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The PDFVCE offers three formats of study materials for the Investment Funds in Canada (IFC) Exam (IFC) certification exam preparation. Our product is designed by experts in their respective fields, ensuring that our customers receive the most up-to-date and accurate CISI IFC Exam Questions.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Evaluating and Selecting Mutual Funds | 16% | - Selection criteria and matching to client needs - Monitoring, rebalancing and replacement - Cost, tax and performance considerations |
| Topic 2: Ethics, Compliance, and Mutual Fund Regulation | 16% | - Regulatory bodies and rules (IIROC, MFDA, provincial) - Conflicts of interest, disclosure and compliance obligations - Codes of ethics and professional conduct |
| Topic 3: Introduction to the Mutual Funds Marketplace | 13% | - Regulatory framework and distribution channels - Structure and participants of Canadian mutual fund industry |
| Topic 4: The Know Your Client Communication Process | 19% | - Risk tolerance assessment and suitability rules - Documentation and ongoing communication requirements - Gathering client financial information and objectives |
| Topic 5: Understanding Alternative Managed Products | 3% | - ETFs, segregated funds, hedge funds, structured products - Features, risks, regulation and suitability |
| Topic 6: Analysis of Mutual Funds | 10% | - Qualitative analysis: manager, style, strategy - Performance measurement and risk metrics - Fund documents and disclosure requirements |
| Topic 7: Understanding Investment Products and Portfolios | 18% | - Risk and return principles - Portfolio construction and asset allocation - Asset classes: stocks, bonds, cash, derivatives |
| Topic 8: The Modern Mutual Fund | 5% | - Pricing, valuation, fees and expenses - Types, structures and legal characteristics - Purchase, redemption and settlement process |
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NEW QUESTION # 467
Evan owns retractable preferred shares of Ingram Corp. Which statement CORRECTLY describes a key feature of Evan's shares?
Answer: C
Explanation:
Retractable preferred shares are a type of preferred stock that lets the issuer force the redemption of the shares at a set price and time. The issuer can pay cash or common shares to the retractable preferred shareholders.
References = Retractable Preferred Shares: What it is, How it Works, Example, What are Retractable Preferred Shares? Definition, And How Does it Work? - CFAJournal, Retractable Preferred Shares | Example
| Feature - Accountinguide
NEW QUESTION # 468
The following table outlines various funds:
Fund
Return (%)
Standard Deviation (%)
A
7
11
B
9
13
C
11
15
D
14
18
Which fund has the highest reward-to-risk ratio?
Answer: B
Explanation:
The reward-to-risk relationship can be evaluated here by comparing each fund ' s return with its standard deviation, which measures volatility. Calculate return ÷ standard deviation for each fund. Fund A produces 7
÷ 11 = 0.636 . Fund B produces 9 ÷ 13 = 0.692 . Fund C produces 11 ÷ 15 = 0.733 . Fund D produces 14 ÷ 18
= 0.778 . Therefore, Fund D provides the greatest amount of return for each unit of volatility among the four alternatives. Standard deviation alone should not be considered without the return being generated for taking that risk. Although Fund D has the highest absolute standard deviation, it also generates sufficiently higher return to produce the strongest reward-to-risk relationship. Therefore, Fund D-listed as Option C-is correct.
NEW QUESTION # 469
Which bond has the highest interest rate risk in an increasing rates environment?
Answer: D
Explanation:
Bond price sensitivity to changes in market interest rates increases as maturity becomes longer and the coupon rate becomes lower . The IFC material specifically explains that price sensitivity rises as term to maturity increases and coupon decreases. Accordingly, the 15-year bonds are more sensitive than the 5-year bonds because investors must wait considerably longer for principal repayment. Between the two 15-year securities, the 4% coupon bond is more sensitive than the 6% coupon bond because a larger proportion of its value is represented by the distant principal payment rather than nearer-term coupon cash flows. When interest rates rise, those distant cash flows are discounted at the new higher rate, producing a larger price decline. Therefore, the 4% coupon 15-year bond has the greatest interest-rate risk, making D correct.
NEW QUESTION # 470
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.
Answer: D
Explanation:
A is correct because Francis will receive $37,888 in Canadian dollars when he redeems the Funds. This is calculated by dividing the current proceeds from the redemption in US dollars by the current CAD/USD exchange rate and rounding to the nearest dollar. That is,
NEW QUESTION # 471
Daisy is a Dealing Representative registered in the province of Saskatchewan only. Daisy's client, Orville, a resident of Lloydminster, Saskatchewan is a retiree who presently has a $1,000,000 with her dealer, Easy Ride Financial. Orville is now planning to move to Vegreville, Alberta next month. Easy Ride Financial is registered in Alberta and Saskatchewan. Neither Easy Ride Financial nor Daisy have any clients who are resident in Alberta.
Which of the following should Daisy do if she wants to continue to service Orville's account?
Answer: B
Explanation:
Daisy could seek permission from her dealer to request a client mobility exemption with the Alberta Securities Commission. This exemption allows a registered individual in one jurisdiction to service a client who moves to another jurisdiction, without having to register in the new jurisdiction, subject to certain conditions. Some of these conditions are that the individual must be registered with a dealer that is registered in both jurisdictions, the individual must not have more than five clients in the new jurisdiction, and the individual must notify the regulator in the new jurisdiction of the exemption. References: Client Mobility Exemption
NEW QUESTION # 472
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