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NEW QUESTION # 231
Frederic recently sold his units in a US dollar (USD) denominated mutual fund. He wants to convert the proceeds back to Canadian dollars (CAD). If he received proceeds of $1,200 USD from the sale and the exchange rate is $1 CAD for $0.99 USD, how much will Frederic receive in Canadian dollars?
Answer: D
Explanation:
To convert the proceeds from USD to CAD, Frederic needs to divide the amount in USD by the exchange rate. The exchange rate is $1 CAD for $0.99 USD, which means that $0.99 USD is equivalent to $1 CAD.
Therefore, Frederic will receive
A math problem with numbers AI-generated content may be incorrect.
CAD in Canadian dollars.
NEW QUESTION # 232
For the last year, an investor earned a return before adjustment for inflation of 2% on a money market fund, while inflation averaged 1.5%. What was his nominal rate of return?
Answer: B
Explanation:
The nominal rate of return is the return before adjustment for inflation, which is given as 2%. The real rate of return would be adjusted for inflation (2% - 1.5% = 0.5%), but the question asks for the nominal rate. The feedback from the document states:
"It is important to consider the effects of inflation on investments because we can isolate the difference between nominal and real returns. Investors are more concerned with the real rate of return - the return adjusted for the effects of inflation. A nominal return is a return that has not been adjusted for the impact of inflation. The approximate real rate of return is calculated as: Real Return = Nominal Rate - Annual Inflation Rate." Reference: Chapter 8 - Constructing Investment PortfoliosLearning Domain: Understanding Investment Products and Portfolios
NEW QUESTION # 233
What type of risk is the fundamental risk factor for fixed-income securities?
Answer: A
Explanation:
Interest rate risk is the primary risk for fixed-income securities, as their value decreases when interest rates rise due to fixed cash flows. The feedback from the document states:
"Interest rate risk is the fundamental risk factor for fixed-income securities such as bonds, mortgages and preferred shares. As interest rates move up, the value of a fixed-income security falls. This is because the cash flow from the fixed-income security is fixed." Reference: Chapter 11 - Conservative Mutual Fund ProductsLearning Domain: Analysis of Mutual Funds
NEW QUESTION # 234
Kerry's total income this past year was $100,000 and she claimed a tax deduction of $2,000. When the tax return is filed, what would be the federal tax payable when applying the following federal tax rates?
(Round to the closest whole dollar for the final answer.)
Answer: C
Explanation:
Kerry's taxable income would be $98,000 ($100,000 - $2,000). Using the federal tax rates provided in the image, the first $48,535 of her income would be taxed at 15%, the next $48,534 at 20.5%, and the remaining
$931 at 26%. This would result in a total federal tax payable of $18,754. You can see the calculation in detail below:
Taxable Income
Marginal Tax Rate
Federal Tax Payable
$0 - $48,535
15%
$7,280.25
$48,536 - $97,069
20.5%
$9,934.47
$97,070 - $98,000
26%
$539.80
Total
$18,754.52
Note: The final answer is rounded to the closest whole dollar.
Canadian Investment Funds Course, Unit 8, Section 8.2; [4]
NEW QUESTION # 235
A client has $950,000 in his RRSP account and $550,000 in his non-registered account held in nominee name with Tradewell Mutual Funds.
In the event of his dealer, Tradewell Mutual Funds declaring insolvency, what is the total amount the client be eligible to receive from the Mutual Fund Dealers Association of Canada Investor Protection Corporation (IPC)?
Answer: B
Explanation:
The amount that the client will be eligible to receive from the IPC is $950,000. The IPC is a not-for-profit corporation that provides coverage to eligible clients of insolvent members of the Mutual Fund Dealers Association of Canada (MFDA). The IPC covers up to $1 million per account type per client for losses of securities, cash, and other property held by the insolvent member. The account types include RRSPs, RRIFs, TFSAs, RESPs, and non-registered accounts. Therefore, the client will be eligible for coverage of $950,000 for his RRSP account, which is the value of his securities and cash held by Tradewell Mutual Funds in his RRSP account. The client will not be eligible for any coverage for his non-registered account, as it is held in nominee name, meaning that the securities and cash are registered in the name of Tradewell Mutual Funds on behalf of the client. Nominee name accounts are not covered by the IPC, as they are not considered to be at risk in the event of insolvency. Therefore, option B is correct regarding the amount that the client will be eligible to receive from the IPC. The other options are not correct regarding the amount that the client will be eligible to receive from the IPC. Option A is false because the client will be eligible for some coverage, as his RRSP account is covered by the IPC. Option C is false because the client will not be eligible for coverage of
$1.5 million, as his non-registered account is not covered by the IPC. Option D is false because the client will not be eligible for coverage of $550,000, as his non-registered account is not covered by the IPC. References:
[IPC Coverage | IFIC], [IPC - Home], [IPC - Coverage]
NEW QUESTION # 236
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