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| Section | Weight | Objectives |
|---|---|---|
| Understanding Investment Products and Portfolios | 18% | - Risk and return principles - Asset classes: stocks, bonds, cash, derivatives - Portfolio construction and asset allocation |
| Analysis of Mutual Funds | 10% | - Performance measurement and risk metrics - Fund documents and disclosure requirements - Qualitative analysis: manager, style, strategy |
| Evaluating and Selecting Mutual Funds | 16% | - Monitoring, rebalancing and replacement - Selection criteria and matching to client needs - Cost, tax and performance considerations |
| Introduction to the Mutual Funds Marketplace | 13% | - Structure and participants of Canadian mutual fund industry - Regulatory framework and distribution channels |
| The Know Your Client Communication Process | 19% | - Risk tolerance assessment and suitability rules - Gathering client financial information and objectives - Documentation and ongoing communication requirements |
| 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 |
| Understanding Alternative Managed Products | 3% | - ETFs, segregated funds, hedge funds, structured products - Features, risks, regulation and suitability |
| The Modern Mutual Fund | 5% | - Pricing, valuation, fees and expenses - Purchase, redemption and settlement process - Types, structures and legal characteristics |
These CISI IFC exam questions give you an idea about the final CISI IFC exam questions formats, exam question structures, and best possible answers, and you will also enhance your exam time management skills. Finally, at the end of IFC Exam Practice test you will be ready to pass the final IFC exam easily. Best of luck in Investment Funds in Canada (IFC) Exam (IFC) exam and professional career!!!
NEW QUESTION # 172
A mutual fund representative meets with a young family whose net worth/level of wealth is categorized as low, but they have the potential to become wealthy. In general, the family seems susceptible to believing that market events are predictable. Also, the family has a stronger impulse to avoid losses than earn gains. How might the mutual fund representative effectively address each of the two biases, respectively?
Answer: C
NEW QUESTION # 173
Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is
$16.70. On December 15, the mutual fund's NAVPU is $21. On December 16, the mutual fund declares a distribution of $1.25 per unit. Sean's distribution is immediately reinvested and he purchases additional units of the mutual fund.
Which of the following statements about the effect of the distribution is correct?
Answer: D
Explanation:
Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.
When a mutual fund declares a distribution, it reduces its NAVPU by the amount of the distribution per unit.
In this case, the NAVPU drops from $21 to $19.75 after the distribution of $1.25 per unit. Sean's distribution is $625 ($1.25 x 500 units), which he reinvests in the mutual fund at the new NAVPU of $19.75.He receives
additional units. The total value of Sean's mutual fund holdings after the distribution and reinvestment is (500+31.65)×19.75=$10,500
, not $9,875. The NAVPU of the mutual fund does change after the distribution, regardless of whether Sean reinvests his distribution or not. References: [Unit 7: Mutual Funds Administration]
NEW QUESTION # 174
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: A
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 # 175
If a Canadian investor was purchasing an international equity fund, in which countries would the fund potentially be invested?
Answer: C
Explanation:
An international equity fund invests primarily in equity securities located outside the fund ' s home country.
For a Canadian investor using the IFC classification framework, that means the fund can potentially invest throughout foreign markets but excludes Canada . This distinguishes an international equity fund from a global equity fund. A global equity fund may invest anywhere in the world, including Canada, while an international equity fund focuses on countries outside Canada. The IFC material explicitly differentiates these classifications, stating that global funds may include the investment fund manager ' s home country whereas international funds invest outside that home country. There is no requirement that an international fund exclude the United States or all of North America. Therefore, the correct answer is C. Anywhere in the world excluding Canada .
NEW QUESTION # 176
What is the maximum yearly CESG available to a family earning $150,000 annually?
Answer: B
NEW QUESTION # 177
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