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IFSE Institute Updated CIFC Exam Questions and Answers by aura

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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: aura
Question 44

Barend is a Dealing Representative with Planvest Group Inc., a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA). Which of the following CORRECTLY describes

Barend's obligation for conflicts of interest?

Options:

A.

Barend must identify material conflicts of interest and implement controls on behalf of the firm.

B.

Barend must disclose material conflicts of interest that cannot be addressed in the best interest of the client.

C.

Barend must avoid material conflicts of interest that cannot be addressed in the best interest of the client.

D.

Barend must identify material conflicts of interest and promptly report the conflicts of interest to clients.

Discussion
Question 45

Which of the following Dealing Representatives has fulfilled their "Know Your Product" obligation?

Options:

A.

Godfried opens an account for his new client, Nadia. When the investments from her previous dealer are transferred in, Godfried sells the investments. Nadia becomes very upset when she is charged $4,329 in redemption fees that neither she nor Godfried expected.

B.

Otev meets with his client, Saeed. Saeed's brother invested in the Navigator Eastern Asia Fund and it provided great returns. When Saeed asks Otev if the Navigator Fund or something similar is available through his firm, Otev doesn't know and doesn't look it up.

C.

Rehan reviews the features of the Hedge Fund that her client, Georgi, wants to buy. When Rehan explains the product to Georgi, she tells him that the Hedge Fund has a lock-up period and he will not be able to redeem the fund if he needs the money.

D.

Tevy recommends the firm's in-house Principal Protected Note (PPN) to her client Mei. Since Mei is seeking safety and liquidity, Tevy determines that the PPN is a good product for her because it's on the firm's list and the principal is guaranteed.

Discussion
Question 46

Jasmine purchases a 1-year, $10,000 face value strip bond for $9,600. At maturity, when Jasmine receives $10,000, which of the following statements is CORRECT?

Options:

A.

Jasmine realizes a capital dividend of S400.

B.

Jasmine realizes a taxable dividend of $400.

C.

Jasmine realizes a taxable capital gain of $400.

D.

Jasmine realizes interest income of $400.

Discussion
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Question 47

Which of the following is typical for a normal yield curve?

Options:

A.

short and long term rates are the same

B.

long term rates are lower than short term rates

C.

yields decline as term to maturity increases

D.

short term rates are lower than long term rates

Discussion
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