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IFSE Institute Updated CIFC Exam Questions and Answers by kristian

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IFSE Institute CIFC Exam Overview :

Exam Name: Canadian Investment Funds Course Exam
Exam Code: CIFC Dumps
Vendor: IFSE Institute Certification: Investments & Banking
Questions: 224 Q&A's Shared By: kristian
Question 16

Which statement about unused registered retirement savings plan (RRSP) contribution room is CORRECT?

Options:

A.

It may not be more than the RRSP contribution limit for the year in which it is carried forward.

B.

It can be carried forward to future years.

C.

It can be carried forward a maximum of seven years.

D.

It may not be carried forward.

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Question 17

Which of the following statements describes a feature of the Home Buyers’ Plan (HBP)?

Options:

A.

To qualify- as a first-time home buyer you or your spouse must never have previously owned a home

B.

Once you are required to repay the amounts back to your RRSP. any missed or incomplete payments are subject to tax.

C.

A qualifying home must be purchased by December 31 of the year of withdrawal.

D.

If you have a spouse or common-law partner, each of you can withdraw up to JE50.000 from your registered retirement savings plans (RRSPs).

Discussion
Question 18

Nelson is a Dealing Representative with True Wealth Advisors Inc., a mutual fund dealer. Nelson follows proper procedures related to his firm’s Relationship Disclosure Information (RDI). Which of the following CORRECTLY describes how Nelson is permitted to evidence that he satisfied his RDI obligation?

Options:

A.

Nelson may retain a copy of the RDI in the client file with detailed notes to confirm that he provided and explained the RDI to the client.

B.

Nelson may deliver the RDI to clients who request it and keep detailed notes of the clients who were provided with the RDI.

C.

Nelson can formalize his relationship under the RDI using a Letter of Engagement that specifies duties, responsibilities, and level of service.

D.

Nelson can record detailed notes which confirm that he provided and explained the Fund Facts to the client within 2 days of the RDI.

Discussion
Question 19

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

Discussion
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