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| Certification Vendor: | CSI (Canadian Securities Institute) |
|---|---|
| Exam Name: | Canadian Securities Course Examination 2 |
| Exam Number: | CSC2 |
| Exam Price: | CAD $250 (approximately) |
| Passing Score: | 60% |
| Certificate Validity Period: | No expiry, but must be registered within 5 years of passing |
| Real Exam Qty: | 100 |
| Exam Duration: | 120 minutes |
| Available Languages: | French, English |
| Exam Format: | Multiple Choice |
| Related Certifications: | CSC1 CPH (Conduct and Practices Handbook) CIM (Chartered Investment Manager) |
| Sample Questions: | CSI CSC2 Sample Questions |
| Exam Way: | Computer-based testing at Pearson VUE test centers |
| Pre Condition: | Must pass CSC1 before taking CSC2; Completion of both exams required for securities registration |
| Official Syllabus URL: | https://www.csi.ca/ |
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NEW QUESTION # 52
An advisor wants to explain the benefits of labour sponsored funds (LSVCC) to some of his clients. With which client should the advisor have this discussion?
Answer: B
NEW QUESTION # 53
The following financial information is available for fund SKE:
What is SKE fund's net asset value per share?
Answer: C
Explanation:
A white sheet with black text Description automatically generated
Explanation of Answer Options:
* Option A ($9.90): Incorrect; this value does not reflect the subtraction of liabilities.
* Option B ($11.90): Correct; it accounts for the subtraction of liabilities and proper division by outstanding units.
* Option C ($12.00): Incorrect; it represents the market value of assets per unit without deducting liabilities.
* Option D ($10.00): Incorrect; this value does not align with the given data or calculations.
References to Canadian Securities Course Exam 2 Study Materials:
* Volume 2, Chapter 17- Mutual Funds: Structure and Regulation, Pricing Mutual Fund Units:
* Discusses the formula for calculating NAV per share, including the treatment of liabilities and market value of assets.
* Volume 2, Chapter 22- Other Managed Products:
* Covers the concept of valuation for managed funds and its importance for accurate pricing.
* Volume 1, Chapter 11- Corporations and Their Financial Statements:
* Provides foundational knowledge about book and market values used in calculations.
NEW QUESTION # 54
What investment dealer function is part of the back-office operations?
Answer: C
Explanation:
Back-office operations support the processing, settlement, recordkeeping, and administrative infrastructure of an investment dealer. Information technology is a clear back-office function because dealers rely on systems for order routing, trade processing, client records, cybersecurity, statements, reporting, and operational controls. Research is generally a front-office or client-facing support function because it helps sales, trading, and advisory personnel generate investment ideas. Compliance is often considered an independent control or middle-office function, although it interacts closely with all business areas. Corporate treasury manages the firm's funding and capital resources, but it is not the best example of routine back-office operations in this question. Information technology is the most appropriate answer because it directly supports operational infrastructure.
NEW QUESTION # 55
Where would the description d a company's fixed assets normally be found?
Answer: C
Explanation:
The description of a company's fixed assets, including details about their nature, valuation methods, and depreciation, is typically found in thenotes to the financial statements. These notes provide additional context, explanations, and details about the figures presented in the financial statements. The statement of financial position will list fixed assets, but the comprehensive description is found in the notes.
References:
* Volume 1, Chapter 11:Corporations and Their Financial Statements, section on "Notes to the Financial Statements" describes how notes are used to provide critical details about items in the financial statements, including fixed assets.
NEW QUESTION # 56
For institutional trading, when does the investor need to provide trade-matching elements?
Answer: B
Explanation:
Trade-matching is a critical process in institutional trading, ensuring that details of a trade (e.g., price, quantity, and settlement terms) align among the involved parties, including the investor, dealer, and custodian.
In Canada, institutional trade matching must occur within a specific timeline, and the investor is responsible for providing trade-matching elementsafter the trade execution notice is issued by the dealer.
Step-by-Step Explanation:
* What is Trade Matching?Trade matching involves the comparison of trade details between the buyer and seller (and their intermediaries) to confirm accuracy and reduce settlement risks.
* When Does the Investor Provide Trade-Matching Elements?
* After the dealer executes the trade, the dealer issues atrade execution noticeto the investor.
* The investor must then provide the necessary trade-matching details, such as account information, settlement instructions, and any other required confirmations.
* This process ensures that the trade can move seamlessly through to settlement.
* Why Not Other Options?
* Option B (Once the custodian confirms the trade):Incorrect. The custodian's role is typically involved in the final settlement process and not in providing trade-matching details.
* Option C (With the initial order):Incorrect. Trade-matching details are provided after the trade is executed, not at the time the order is placed.
* Option D (Once the trade clears):Incorrect. Trade matching occurs before the trade clears to ensure settlement.
References to Canadian Securities Course Exam 2 Study Materials:
* Volume 2, Chapter 27 - Institutional Clearing and Settlement
* Highlights the process of institutional trade matching, the roles of the investor, dealer, and custodian, and the required timelines.
* Volume 2, Chapter 27 - The Sell Side and the Buy Side of the Market
* Explains trade execution and the responsibilities of institutional clients and their intermediaries in completing trades.
Final answer:
* Option A (After the dealer issues a trade execution notice): Correct.
* Other options are incorrectbased on the standard processes for institutional trade matching in Canada.
NEW QUESTION # 57
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