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| Section | Weight | Objectives |
|---|---|---|
| The Modern Mutual Fund | 5% | |
| Ethics, Compliance, and Mutual Fund Regulation | 16% | |
| Understanding Alternative Managed Products | 3% | |
| Evaluating and Selecting Mutual Funds | 16% | |
| Introduction to the Mutual Funds Marketplace | 13% | |
| Analysis of Mutual Funds | 10% | |
| Understanding Investment Products and Portfolios | 18% | |
| The Know Your Client Communication Process | 19% |
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NEW QUESTION # 402
The XYZ Canadian Equity Income fund is classified as a large cap Canadian equity fund. Despite overall growth in the Canadian equity markets over the last several years, the fund has underperformed its peer group.
What is one possible explanation for the underperformance?
Answer: B
NEW QUESTION # 403
Karen's know your client (KYC) profile corresponds to someone who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She watches the daily movements of the Toronto Stock Exchange (TSX) and wants a mutual fund that will closely match what she sees.
What kind of mutual fund would be BEST for her?
Answer: C
Explanation:
A Canadian equity index fund is a type of mutual fund that invests in stocks that track a Canadian equity market index, such as the S&P/TSX Composite Index or the S&P/TSX 60 Index. These indices measure the performance of the largest and most liquid companies listed on the Toronto Stock Exchange (TSX). A Canadian equity index fund aims to replicate the returns of the index it follows, before fees and expenses.
Therefore, this type of fund would be best for Karen, who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She also wants a mutual fund that will closely match what she sees on the TSX. References: CIBC Canadian Equity Index ETF, Top Canadian Index Funds of 2023 | The Motley Fool Canada
NEW QUESTION # 404
Which ethical value covers client orders?
Answer: D
Explanation:
Duty of care is the ethical value most directly associated with the proper handling of client orders. A dealing representative must exercise competence and due diligence, maintain current Know Your Client information, evaluate suitability where required, and properly address orders initiated by clients. IFC 8-0 specifically identifies duty of care as the Standard of Conduct focus applicable to unsolicited client orders and explains that client initiation of a trade does not eliminate the representative ' s responsibilities. Integrity primarily concerns honesty and conflicts of interest; confidentiality concerns protecting client information; and professionalism relates to appropriate professional behaviour and conduct. Because this question specifically asks which ethical value covers the treatment of client orders, Duty of care is the best answer. This wording is sufficiently different from the existing List A question to count as new under your rule.
NEW QUESTION # 405
Your client's unused RRSP contribution room is $46,000. He contributes $15,000 in the current taxation year.
How much RRSP contribution room can he carry forward?
Answer: C
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Unused RRSP contribution room can be carried forward indefinitely. The carry-forward amount is the unused room minus the current year's contribution: $46,000 - $15,000 = $31,000. The feedback from the document states:
"Any RRSP contribution room that is not used in a taxation year can be carried forward to be used in future years. There is no limit on the amount that can be carried forward. In this example, $46,000 - $15,000 =
$31,000."
Reference:Chapter 6 - Tax and Retirement PlanningLearning Domain:The Know Your Client Communication Process
NEW QUESTION # 406
The following chart displays various fund manager details:
Manager - Alpha - Beta
Manager A - -1 - 1.25
Manager B - -1 - 2.75
Manager C - +1 - 1.25
Manager D - +1 - 2.75
Which manager likely earned the highest overall rate of return?
Answer: D
Explanation:
Manager D combines a positive alpha with the highest beta in the table. Alpha indicates performance relative to the return expected for the portfolio ' s level of systematic risk. A positive alpha indicates that the manager generated performance above that expected from market exposure, whereas a negative alpha indicates underperformance relative to that expectation. Beta measures sensitivity to movements in the market: a beta greater than 1 indicates that the portfolio is expected to move more strongly than the market. IFC examples show that a portfolio with a beta of 1.4 would be expected to rise approximately 14% when its benchmark rises 10%. Assuming the normal positive market-return environment implied by "likely," Manager D ' s beta of 2.75 plus positive alpha gives the highest expected overall return. Therefore, D is correct.
NEW QUESTION # 407
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