BONUS!!! Download part of UpdateDumps IFC dumps for free: https://drive.google.com/open?id=1cEGGtaH-veTPucETp0Cfvc0_JufrFJVA
As the actual Investment Funds in Canada (IFC) Exam (IFC) certification exam costs a high penny, UpdateDumps provides a free demo before your purchase so you can be well aware of the CISI IFC exam questions. The Investment Funds in Canada (IFC) Exam (IFC) exam dumps are instantly downloadable right after your purchase. In the same way, UpdateDumps provides a money-back guarantee if in any case, you are unable to pass the CISI IFC Certification but the terms and conditions are mentioned on the guarantee page.
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
>> IFC Latest Dumps Questions <<
We offer you free demo for you to have a try before buying the IFC study guide, so that you can have a better understanding of what you are going to buy. IFC exam dumps of us also offer you free update for one year after purchasing, and our system will send the latest version to you automatically. Besides we have the online and offline chat service stuff, and if you have any questions about the IFC Study Guide, you can consult them, and they will offer you the suggestions.
NEW QUESTION # 227
A client recently sold her holdings in ABC Equity Fund. The client ' s transactions in the fund are summarized below:
Date - Description - Amount ($)
Year One - Bought 500 ABC Equity Fund @ $10.50 per unit (no load) - $5,250.00 Year Two - Reinvested dividend (75% capital gains; 25% Canadian dividends), bought 20.5 ABC Equity Fund @ $11.50 per unit - $235.75 Year Three - Reinvested dividend (80% capital gains; 20% Canadian dividends), bought 35.5 ABC Equity Fund @ $12.25 per unit - $434.88 Year Four - Sold 556 ABC Equity Fund @ $12.75 per unit - $7,089.00 What is the client ' s capital gain from the sale of the fund in Year Four?
Answer: A
Explanation:
Reinvested mutual fund distributions increase the investor ' s adjusted cost base (ACB) because the distributions are used to purchase additional units. The original investment is $5,250.00. The reinvested amounts add $235.75 and $434.88. Therefore, total ACB equals $5,250.00 + $235.75 + $434.88 = $5,920.63 .
The client sells all 556 units for proceeds of $7,089.00. The capital gain is therefore $7,089.00 # $5,920.63 =
$1,168.37 . IFC material confirms that reinvested distributions increase ACB and that the capital gain is calculated as proceeds of disposition minus adjusted cost base and applicable selling expenses. Ignoring reinvested distributions would overstate the taxable capital gain. Therefore, Option D is correct.
NEW QUESTION # 228
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 # 229
Which of the following form part of the disclosure documents relating to mutual funds?
Answer: D
Explanation:
Disclosure documents are documents that provide information about a mutual fund's features, risks, performance, fees, and expenses to investors and regulators. Disclosure documents are required by securities laws and must be prepared and filed by the fund manager in accordance with the prescribed rules and standards. Disclosure documents relating to mutual funds include the following:
* Statement of net assets: This is a document that shows the value of the fund's assets and liabilities as of a specific date. It also shows the net asset value per unit (NAVPU) of the fund, which is the price at which investors can buy or sell units of the fund. The statement of net assets is part of the fund's financial statements, which are prepared and filed semi-annually and annually.
* Annual information form (AIF): This is a document that provides additional information about the fund that is not included in the simplified prospectus or the fund facts. The AIF includes information such as the fund's history, organization, management, governance, policies, risks, conflicts of interest, fees, expenses, taxation, and legal matters.The AIF is prepared and filed annually.
* Management reports of fund performance (MRFP): These are documents that provide information about the fund's financial performance, portfolio composition, risk profile, and management expenses.
The MRFPs are prepared by the fund manager and filed semi-annually and annually. The MRFPs include sections such as financial highlights, past performance, summary of investment portfolio, management discussion of fund performance, and financial statements.
Canadian Investment Funds Course, Chapter 6: Fund Operations and Regulations1
NEW QUESTION # 230
Your client, Kimberly has investments in both registered and non-registered plans. Which of the following investment strategies is best suited for Kimberly from a tax perspective?
Answer: C
Explanation:
According to the Canadian Investment Funds Course, different types of investment income are taxed differently in Canada. Interest income is fully taxed at the marginal rate, while dividend income is favourably taxed with a dividend tax credit. Capital gains are taxed on 50% of the gain at the marginal rate, and foreign income is subject to withholding tax. Therefore, a tax-efficient strategy is to include interest paying investments, such as bonds or GICs, in the registered plan, where they can grow tax-deferred until withdrawal. Dividend paying investments, such as Canadian stocks or ETFs, should be included in the non- registered plan, where they can benefit from the lower tax rate and the dividend tax credit. Foreign income should also be avoided in the non-registered plan, unless it is held in a U.S. dollar account or a foreign currency hedged ETF, to reduce the impact of withholding tax and currency fluctuations.
1: Canadian Investment Funds Course - IFSE Institute 2 (Unit 9: Retirement)
NEW QUESTION # 231
Joanne's earned income last year was $45,000 and her pension adjustment was $2,500. She has $2,000 in carry-forward registered retirement savings plan (RRSP) room for the current taxation year. What is Joanne's maximum tax-deductible RRSP contribution amount for the current year?
Answer: D
Explanation:
The maximum tax-deductible RRSP contribution is calculated as 18% of the previous year's earned income, minus the pension adjustment, plus any carry-forward contribution room. In this case:
(18% ร $45,000) = $8,100
$8,100 - $2,500 (pension adjustment) + $2,000 (carry-forward) = $7,600.
The feedback from the document confirms:
"Joanne's tax-deductible RRSP contribution room would be calculated as (18% ร $45,000) - $2,500 + $2,000
= $7,600."
Reference: Chapter 6 - Tax and Retirement PlanningLearning Domain: The Know Your Client Communication Process
NEW QUESTION # 232
......
Will you feel nervous when you are in the exam, and if you do, you can try our exam dumps.IFC Soft test engine can stimulate the real environment, through this , you can know the procedure of the real exam, so that you can release your nervous . And you can build up your confidence when you face the real exam. Besides, IFC Exam Dumps of us offer you free update for one year after purchasing, and our system will send the latest version to you automatically. We have online and offline chat service stuff, and if you have any questions, just have chat with them.
New IFC Exam Pass4sure: https://www.updatedumps.com/CISI/IFC-updated-exam-dumps.html
P.S. Free & New IFC dumps are available on Google Drive shared by UpdateDumps: https://drive.google.com/open?id=1cEGGtaH-veTPucETp0Cfvc0_JufrFJVA