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| Certification Vendor: | CSI (Canadian Securities Institute) |
|---|---|
| Exam Name: | Investment Funds in Canada (IFC) |
| Exam Number: | IFC |
| Exam Duration: | 180 minutes |
| Certificate Validity Period: | 2 years |
| Exam Format: | Multiple Choice |
| Available Languages: | French, English |
| Passing Score: | 60% |
| Exam Price: | CAD 520.00 |
| Real Exam Qty: | 100 |
| Sample Questions: | CISI IFC Sample Questions |
| Exam Way: | Proctored (remote or in-person at a test centre) |
| Pre Condition: | None |
| Official Syllabus URL: | https://www.csi.ca/student/en_ca/courses/csi/ifc.xhtml |
IFC practice exam takers can even access the results of previous attempts which helps them in knowing and overcoming their mistakes before appearing in the IFC final test. There are thousands of students that bought VerifiedDumps's IFC Practice Exam and got success on their initial tries. We guarantee that if you take our provided CISI IFC exam dumps you will crack the IFC Exam in a single try.
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NEW QUESTION # 154
Olivia Thompson met with her financial advisor on a Sunday afternoon during a long weekend. The following day is Canada Day and Olivia is eager to place an order for a technology-focused growth mutual fund immediately. What is the cost Olivia will pay?
Answer: B
Explanation:
Mutual funds use forward pricing , meaning a purchase order is executed using the next NAVPS calculated after the order is received and can be processed. IFC 8-0 explains that orders received during a business day before the valuation cutoff use that day ' s closing NAV, while orders received after the cutoff use the next business day ' s NAV. Olivia gives the instruction on Sunday, when markets are closed. Monday is Canada Day and therefore is not a normal trading business day. The first applicable valuation day is consequently Tuesday. Her purchase is therefore priced using Tuesday ' s NAVPS . Friday ' s NAVPS predates the order, while Saturday and Sunday are non-business days on which the mutual fund would not establish the applicable transaction NAVPS for this order.
NEW QUESTION # 155
Ayra believes the Canadian economy will be booming for the next five years. Which mutual fund can provide Ayra with the most tax efficiency if she keeps her investment in a non-registered account?
Answer: A
Explanation:
In a booming economy, equity growth mutual funds provide the best opportunity for capital gains. In a non- registered account, capital gains are the most tax-efficient form of income since only 50% is taxable.
Bonds, mortgages, and money market funds primarily generate interest income, which is fully taxable at the investor's marginal rate.
Thus, the most tax-efficient choice is an equity growth fund.
NEW QUESTION # 156
What bias results in investors valuing an asset that they own over an asset that another individual owns?
Answer: A
Explanation:
Endowment bias leads investors to overvalue assets they own compared to similar assets they do not own. The feedback from the document states:
"People who are subject to endowment bias place more value on an asset they hold property rights to than on an asset they do not hold property rights to." Reference: Chapter 5 - Behavioural FinanceLearning Domain: The Know Your Client Communication Process
NEW QUESTION # 157
Based on your discussions with your client Sierra, you believe an asset allocation of 30% fixed income and
70% equities will help her achieve her long-term goals.What type of asset allocation strategy are you implementing?
Answer: C
Explanation:
A strategic asset allocation strategy is one that involves setting target allocations for various asset classes based on the investor's risk tolerance, time horizon, and investment objectives, and rebalancing the portfolio periodically to maintain the original allocations. This strategy is compatible with a buy-and-hold approach and aims to achieve long-term goals by diversifying across different asset classes and markets. In this case, you are implementing a strategic asset allocation strategy for your client Sierra by assigning 30% of her portfolio to fixed income and 70% to equities, and planning to rebalance her portfolio when the actual allocations deviate significantly from the target allocations.
Canadian Investment Funds Course, Unit 7, Section 7.1
NEW QUESTION # 158
Which person would be categorized as a vulnerable client?
Answer: C
Explanation:
A vulnerable client is a client who, due to their personal circumstances, is especially susceptible to harm or disadvantage when dealing with financial services. Vulnerability can be permanent or temporary, and can arise from various factors, such as physical or mental health conditions, cognitive impairments, low financial literacy, language barriers, abuse, or discrimination. A vulnerable client may have different needs and challenges than other clients, and may require more support and protection from their adviser. Ginger would be categorized as a vulnerable client because she has reached retirement age and is easily confused, which may affect her ability to understand and make informed decisions about her financial situation. She may also be at risk of being exploited or misled by others who may take advantage of her confusion. Therefore, Ginger' s adviser should take extra care to ensure that she is treated fairly and that her best interests are served.
1: Canadian Investment Funds Course, Chapter 8: Suitability and Know Your Client1
NEW QUESTION # 159
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