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IFSE Institute Updated CIFC Exam Questions and Answers by sid

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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: sid
Question 20

Danny is a Dealing Representative for Everbright Investments. He met with his client Adele, who has $1,000,000 to invest. During their meeting Danny determines that Adele has a high-risk profile. In addition, he learns that she has an excellent understanding of equities and how volatile they can be. Danny is considering recommending growth funds specifically, and making a recommendation from the following investment options:

Questions 20

Based on the information provided, which mutual fund should Danny recommend?

Options:

A.

ABC Global Equity Fund.

B.

DEF European Equity Fund.

C.

LMN Asia Pacific Equity Fund.

D.

Invest equally in all 3 funds.

Discussion
Question 21

Throughout the year, the Redwood Global Equity Fund generated the following outcomes:

. $1.00 per unit of interest income from Canadian treasury bills

. $2.50 per unit of dividend income from foreign corporations

. $7.75 per unit of capital gains from the sale of Canadian corporations

. $6.50 per unit of capital gains from the sale of foreign corporations

. $2.00 per unit of capital losses from the sale of foreign corporations

Given that the Redwood Global Equity Fund is structured as a mutual fund trust, which of the following statements is true?

Options:

A.

Redwood can flow the foreign dividends to unitholders, who can then take advantage of the dividend gross-up and tax credit mechanism.

B.

Unitholders will receive $12.25 per unit of net capital gains from Redwood, of which only 50% is subject to tax.

C.

Redwood can distribute the $2.00 per unit of capital losses to unitholders, who can then use them to offset their capital gains.

D.

Since Redwood pays the tax on foreign income, it does not distribute dividend or capital gains income from foreign sources to unitholders.

Discussion
Question 22

Which of the following statements regarding mutual fund fees is correct?

Options:

A.

Redemptions are made from units held by investors to pay trailer fees.

B.

Trailer fees are only paid to mutual fund dealers when a purchase is made.

C.

The mutual fund dealer receives trailer fees based on the value of assets under management.

D.

Trading commissions are paid from the management fee.

Discussion
Question 23

Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he

admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She

is wondering if it is too late to change her mind and cancel her purchase order.

Which statement regarding the right of withdrawal is CORRECT?

Options:

A.

The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within.

B.

The Canadian Securities Administrators (CSA) created legislation that addresses the right of withdrawal for investors.

C.

The Mutual Fund Dealers Association of Canada (MFDA) have written conduct rules regarding the right of withdrawal.

D.

Mariana has to wait two business after her purchase order has been settled to exercise the right of withdrawal.

Discussion
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