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NEW QUESTION # 83
What is a key difference between marketable government bonds and treasury bills?
Answer: C
Explanation:
Treasury bills (T-bills) have short maturities and are sold at a discount, with the return being the difference between the purchase price and par value at maturity, without coupon interest. Marketable bonds, however, pay coupon interest. The feedback from the document states:
"Because T-bills have such short maturities, they do not pay any coupon interest; instead, they are sold to investors at a discount from par value. When the T-bill matures, you receive par value. The difference between the price paid and the par value represents your return." Reference: Chapter 7 - Types of Investment Products and How They Are TradedLearning Domain:
Understanding Investment Products and Portfolios
NEW QUESTION # 84
Jacinta is a Dealing Representative with WealthSource Partners Inc., a mutual fund dealer registered in Ontario. Jacinta meets with her friend Saabir, who is a licensed insurance agent. Saabir asks Jacinta for a list of Jacinta's clients so that Saabir can reach out to them to ensure that their insurance needs are being met. Which of the following statements about Jacinta sharing the list with Saabir is CORRECT?
Answer: C
Explanation:
The correct answer is D. If Jacinta shares the list with Saabir without obtaining the clients' prior consent, she will be in breach of the Personal Information Protection and Electronic Documents Act (PIPEDA).
PIPEDA is the federal privacy law for private-sector organizations in Canada. It sets out the ground rules for how businesses must handle personal information in the course of their commercial activity. One of the key principles of PIPEDA is consent. This means that organizations must obtain meaningful consent from individuals before collecting, using, or disclosing their personal information, unless an exception applies.
Consent must be obtained for the original purpose of collecting the information, and for any new purpose that arises later. Consent can be express or implied, depending on the sensitivity of the information and the reasonable expectations of the individual.
In this scenario, Jacinta's clients' personal information is sensitive, as it relates to their financial situation and investment goals. Jacinta's clients would not reasonably expect that their information would be shared with Saabir, who is not affiliated with WealthSource Partners Inc., for the purpose of marketing insurance products. Therefore, Jacinta must obtain express consent from her clients before disclosing their information to Saabir. If she does not, she will violate PIPEDA and risk legal action from her clients or from the Office of the Privacy Commissioner (OPC).
NEW QUESTION # 85
Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She is wondering if it is too late to change her mind and cancel her purchase order.
Which statement regarding the right of withdrawal is CORRECT?
Answer: B
Explanation:
The right of withdrawal is a statutory right that allows investors to cancel their purchase order of mutual funds within a specified period of time and receive a refund of the amount they paid. The right of withdrawal is also known as the cooling-off period or the rescission right. The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within, as each jurisdiction has its own securities legislation and regulations that govern the mutual fund industry. For example, in Ontario, the right of withdrawal is two business days after receiving the simplified prospectus or the fund facts document, whichever is later1. In Quebec, the right of withdrawal is two business days after receiving the simplified prospectus or confirmation of purchase, whichever is later2. In British Columbia, the right of withdrawal is 48 hours after receiving confirmation of purchase3. Therefore, Mariana may still be able to exercise her right of withdrawal, depending on where she bought her mutual funds and when she received the required documents. References:
Canadian Investment Funds Course (CIFC) Study Guide, Chapter 3: The Regulatory Environment, Section
3.2: The Right of Withdrawal, page 3-54
Ontario Securities Commission - Mutual Funds - Buying and Selling1
Autorite des marches financiers - Mutual Funds - Buying and Selling2
British Columbia Securities Commission - Mutual Funds - Buying and Selling3
NEW QUESTION # 86
Which stock exchange trades junior securities?
Answer: A
Explanation:
The TSX Venture Exchange (TSXV) is the Canadian marketplace primarily associated with emerging and junior companies. It provides smaller and earlier-stage issuers with access to public equity capital under listing standards designed for venture-stage businesses. By contrast, the Toronto Stock Exchange generally serves larger, more established issuers. The Montreal Exchange specializes primarily in derivatives, including futures and options, while the Canadian Securities Exchange operates a separate securities market but is not the exchange identified in the IFC framework as the principal market for junior securities. TMX describes the TSXV as a public venture-capital marketplace for emerging companies with listing requirements tailored to smaller companies. Therefore, the appropriate answer is the TSX Venture Exchange.
NEW QUESTION # 87
Which company usually fills the role of the custodian for a mutual fund?
Answer: D
Explanation:
Comprehensive Detailed Explanation with Investment Funds in Canada Course References:
The custodian of a mutual fund is responsible for safekeeping assets and handling cash inflows and outflows.
According to CSC, an independent financial organization, usually a trust company, serves as custodian. The custodian collects funds from investors, receives portfolio income, and arranges for distributions and redemptions.
Thus, the correct answer is A. A trust company.
NEW QUESTION # 88
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