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IFSE Institute Updated CIFC Exam Questions and Answers by presley

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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: presley
Question 28

Pierre wants to discuss the merits of a specific mutual fund with his Dealing Representative, Simone. There are no trailer fees associated with this fund. Simone is familiar with the mutual fund that Pierre is referring to, which is not offered by her dealer. They schedule an appointment to further discuss his investment portfolio.

Which behaviour from Simone is ethical?

Options:

A.

Simone's ability to keep her knowledge current on competitors' investment offerings shows that she is putting her client's interest first.

B.

Knowing Pierre does not like that her dealer's funds have trailer fees, she chooses not to discuss the relationship between trailer fees and MER while making comparisons.

C.

When comparing her dealer's own mutual funds to the one Pierre discovered, Simone emphasizes the importance of similar net rates of return and minimizes the significance of management expense ratios (MERs).

D.

While comparing Fund Facts of the different mutual funds, Simone points out that not only are the fund management expenses different but so are the investor profiles for each fund.

Discussion
Question 29

Exchange traded funds (ETFs) that track an index and index mutual funds have many similarities. However, what is a major difference between these two products?

Options:

A.

While ETFs are prone to tracking errors, index funds are perfectly aligned with their underlying index.

B.

ETFs can be purchased continuously throughout the trading day while index funds can only be bought or sold at the end of the day.

C.

The market price of ETFs always matches the underlying basket of securities while there can be a discrepancy in pricing index funds.

D.

ETFs do not have management fees since they are exchange traded while index funds do incur such fees.

Discussion
Question 30

Wilma has always used the services of a tax preparation firm to file her taxes but is skeptical that she has really benefitted. This year she plans to file her own taxes for the first time.

What would be useful for her to know?

Options:

A.

Wilma's marginal tax rate may be lowered when tax deductions are applied to her total income.

B.

Wilma's top marginal tax rate will be applied to every taxable dollar when her tax return is filed.

C.

Wilma's tax deductions permit her to reduce her tax payable dollar-for-dollar.

D.

Wilma's non-refundable tax credits may only reduce her taxable income dollar-for-dollar.

Discussion
Question 31

What do Guaranteed Income Supplement (GIS) and Allowance for the Survivor have in common?

Options:

A.

ability to defer benefits

B.

benefits start at the age of 65

C.

eligibility depends on income level

D.

benefit amounts depend on individual contribution

Discussion
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