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NEW QUESTION # 195
What variable needs to decrease on a company's statement of changes in equity for its retained earnings to increase?
Answer: D
NEW QUESTION # 196
Jabir recently joined Prosper Wealth Inc. and is looking forward to being a Dealing Representative for the firm. Which of the following statements CORRECTLY describe when Jabir will be eligible to open new client accounts and sell investments?
Answer: D
Explanation:
Jabir will be eligible to open new client accounts and sell investments only after he receives formal confirmation from the securities regulator that he is registered as a Dealing Representative. This is because registration is a legal requirement for anyone who trades securities or advises clients on securities in Canada, unless an exemption applies. Registration helps protect investors by ensuring that only qualified and competent individuals and firms can conduct securities related business. Jabir must also meet the proficiency, solvency, and suitability requirements for registration, as well as comply with the ongoing obligations of a registrant. Passing the proficiency course and being employed by the dealer are necessary but not sufficient conditions for registration. The dealer must apply for registration on behalf of Jabir and wait for the regulator' s approval.
1: Canadian Investment Funds Course, Unit 1, Section 1.2
NEW QUESTION # 197
You are comparing the performance of ABC Equity Fund and XYZ Equity Fund to their benchmark. Indicate the correct statement.
Return|Year 1|Year 2|Year 3|3 Year Compound Return
Benchmark | -2.0% | 12.6% | 20.6% | 10.0%
ABC Equity Fund | -10.0% | 16.0% | 24.0% | 9.0%
XYZ Equity Fund | 8.0% | 9.0% | 10.0% | 9.0%
Answer: D
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Fund XYZ's more consistent annual returns (less variation) reduce the likelihood of selling at a loss, especially in volatile markets. The feedback from the document states:
"After finding comparable funds with good long-term performance, look for funds with the best performance from year to year. In comparing two funds, the one with less variation in simple rates of return from year to year is a more consistent performer. Although equity funds are intended for the long-term, if liquidity is needed, the fund with a more consistent performance is less likely to be sold at a loss." Reference:Chapter 15 - Selecting a Mutual FundLearning Domain:Evaluating and Selecting Mutual Funds
NEW QUESTION # 198
The Government of Canada issues $50 million in 10-year, long-term bonds, of which $5 million is bought by a mutual fund trust. Assuming the underlying bonds have a 4% annual coupon (paid semiannually), how much will the mutual fund trust receive after the first six months?
Answer: B
Explanation:
The coupon is calculated on the $5 million face value actually purchased by the mutual fund trust , not on the entire $50 million government issue. A 4% annual coupon therefore produces annual interest of:
$5,000,000 ร 4% = $200,000.
Because the bond pays interest semiannually , the annual coupon is divided into two equal payments:
$200,000 รท 2 = $100,000 .
The IFC material describes Government of Canada bonds as fixed-income securities that make regular coupon payments and specifically notes that government bonds generally provide interest payments semiannually.
The 10-year maturity does not change the amount of each coupon payment; it determines how long those payments continue before the principal is returned. Therefore, the trust receives $100,000 after the first six months , making A correct.
NEW QUESTION # 199
Quintin has been a Dealing Representative for Global Maximum Financial for 5 years. Today, he opened an account for his new client, Reginald. In addition to opening a new account, Reginald agreed to accept Quintin's investment recommendation and placed a purchase order to buy units of the Global Maximum Value Equity fund.
Quintin informed his Branch Manager Lupita about this new account on the same day the purchase order was received. Lupita told Quintin that she would complete her review of the New Client Application Form (NCAF) by no later than tomorrow.
Which statement regarding this new account opening is CORRECT?
Answer: A
Explanation:
According to the MFDA Rules, a Dealing Representative must not accept any purchase orders from a client until the Branch Manager or other designated person has reviewed and approved the New Client Application Form (NCAF) for the client. This is to ensure that the Dealing Representative has obtained and verified all the necessary information about the client, such as identity, investment objectives, risk tolerance, financial situation, and suitability of investments. The review and approval of the NCAF must be completed before any trades are executed for the client, unless there are exceptional circumstances that justify a delay. In this case, Quintin should have waited for Lupita's approval of the NCAF before placing the purchase order for Reginald.
1: MFDA Rules as at December 31, 2021 - MFDA 2 (Rule 2.2.4)
NEW QUESTION # 200
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