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NEW QUESTION # 50
Which person would be categorized as a vulnerable client?
Answer: A
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.
Canadian Investment Funds Course, Chapter 8: Suitability and Know Your Client1
NEW QUESTION # 51
The XYZ Canadian Equity Income fund is classified as a large cap Canadian equity fund. Despite overall growth in the Canadian equity markets over the last several years, the fund has underperformed its peer group.
What is one possible explanation for the underperformance?
Answer: C
NEW QUESTION # 52
Apex Mutual Fund has been structured to avoid taxation by distributing any net interest, dividends, and capital gains to unitholders each calendar year. This is an example of what type of mutual fund structure?
Answer: C
Explanation:
A mutual fund trust structure allows the fund to avoid taxation by distributing its income to unitholders. The feedback from the document states:
"The most common structure for mutual funds in Canada is the open-end trust. The trust structure allows a fund itself to avoid taxation. Any interest, dividends and capital gains income, net of the fund's fees, expenses and capital losses, if passed to its unitholders each calendar year, will allow the trust to avoid being taxed on its income." Reference: Chapter 10 - The Modern Mutual FundLearning Domain: The Modern Mutual Fund
NEW QUESTION # 53
The following data is available for an investment:
Purchase value
$125
End of the year value
$133
Quarterly dividend amount
$1
What is the annual return for this investment if held for one year?
Answer: B
NEW QUESTION # 54
A fund manager has diversified the equity portfolio he manages in order to reduce the potential negative impact of unfavorable information relating to any one stock. What type of risk has he reduced?
Answer: A
Explanation:
Unique risk, also known as firm-specific risk, is reduced through diversification, as it relates to volatility caused by information specific to individual securities. The feedback from the document states:
"If a security's price is affected by new information, and if new information arrives frequently, then its price will tend to be volatile and so will the returns that it generates. This source of volatility is specific to a given security and is known as unique risk. Diversifying a portfolio reduces unique risk." Reference: Chapter 15 - Selecting a Mutual FundLearning Domain: Evaluating and Selecting Mutual Funds
NEW QUESTION # 55
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