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Investments & Banking CIFC Updated Exam

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Total 224 questions

Canadian Investment Funds Course Exam Questions and Answers

Question 5

One of your clients, Fernando, is approaching 71 years of age and has a few questions regarding life income funds (LIFs).

Which of the following statements about LIFs is TRUE?

Options:

A.

Fernando may make contributions to his LIF if he continues working.

B.

Fernando is free to withdraw any amount from his LIF above the minimum amount.

C.

Fernando can transfer money from his registered retirement savings plan (RRSP) to a LIF.

D.

Fernando can transfer money from his locked-in retirement account (LIRA) to a LIF.

Question 6

Which information is typically included in the Letter of Engagement?

Options:

A.

Client's responsibilities

B.

Process for complaints

C.

Investment Objective

D.

Payee for deposits

Question 7

Russell is a Dealing Representative with Wealth Quest Strategies Ltd., a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA). Russell is developing his website to

include sales content on a Target Date Fund. Which of the following is Russell permitted to include on his website about the Target Date Fund?

i. the asset mix through the life of the fund until the future date

ii. the expected decline in the fund's risk level as the fund reaches its target date

iii. the guaranteed return that the client will receive on the future date

iv. a graphic illustration of the fund's promised growth on target date

Options:

A.

i and ii

B.

i and iii

C.

ii and iv

D.

iii and iv

Question 8

Which of the following characteristics about mortgage mutual funds is CORRECT?

Options:

A.

typically monthly distributions of interest

B.

if interest rates fall, the mutual fund's net asset value per unit (NAVPU) will decline

C.

suitable only for high risk investors

D.

risk-free where the mortgages are National Housing Act (NHA) insured

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Total 224 questions