RELIABLE CIFC TEST MATERIALS - PASS GUARANTEED 2025 FIRST-GRADE CIFC: OFFICIAL CANADIAN INVESTMENT FUNDS COURSE EXAM STUDY GUIDE

Reliable CIFC Test Materials - Pass Guaranteed 2025 First-grade CIFC: Official Canadian Investment Funds Course Exam Study Guide

Reliable CIFC Test Materials - Pass Guaranteed 2025 First-grade CIFC: Official Canadian Investment Funds Course Exam Study Guide

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IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q138-Q143):

NEW QUESTION # 138
Loretta is looking for a well diversified equity fund. Her ideal mutual fund would hold investments within and outside copyright. Although she is seeking growth, Loretta also wants a mutual fund that invests in quality companies.
Which of the following mutual funds would be the best choice for Loretta?

  • A. Auric Precious Metals Fund - this sector fund invests in Canadian companies that participate in the precious metals sector such as owning mines in foreign countries.
  • B. Dominion International Growth Fund - this international equity fund invests in small and medium sized companies in countries all around the world.
  • C. Polar Global Blue Chip Equity Fund - this global equity fund invests in large, established companies in mostly stable and mature foreign markets.
  • D. Lennox Energy Fund - this sector fund invests primarily in Canadian oil and gas companies that sell both to domestic and foreign markets.

Answer: C

Explanation:
Explanation
Loretta is looking for a well diversified equity fund that invests both within and outside copyright. She also wants a fund that invests in quality companies, which implies that she prefers lower risk and higher stability. A global equity fund would meet her criteria, as it can invest in any country, including copyright, and diversify across different regions and markets. A global equity fund that focuses on large, established companies, also known as blue chip stocks, would also suit her preference for quality and stability, as these companies tend to have strong financial performance, competitive advantages, and consistent dividends. Therefore, the Polar Global Blue Chip Equity Fund would be the best choice for Loretta among the given options.
References: Canadian Investment Funds Course, Unit 6, Section 6.2


NEW QUESTION # 139
Which of the following CORRECTLY describes a material conflict of interest that has been properly addressed by the Dealing Representative?

  • A. Keaira recommends a growth fund to her client, Shilo, but her Compliance Department questions the trade because Shilo's risk profile is too low. Rather than cancel the trade and absorb the market losses herself, Keaira recommends that Shilo keep the investment even though it is not in her best interest.
    Keaira updates Shilo's KYC to "high" risk and gets Shilo to sign the KYC update form.
  • B. Gibson reviews two similar mutual funds for his client. One fund pays higher trailer fees than the other.
    Gibson discloses the difference between the trailer fees before recommending the fund that has higher trailer fees.
  • C. Cametra asks to meet with her client, Pietro, to update his Know Your Client (KYC) information. They have not had a face-to-face meeting in years. Pietro feels updating the KYC information is unnecessary.
    He tells Cametra he is too busy and there is no reason for her to be concerned with the information she already has. Even though they fail to meet, Cametra continues to submit purchase orders at his request.
  • D. Oscar wants to recommend a fund to his client which has a higher management expense ratio (MER) than other mutual funds. Since the MER could impact the client's decision, Oscar reports the conflict of interest to his dealer and discloses the conflict of interest to his client. Oscar explains how the higher MER is in the client's best interest because the overall cost for the client will still be less than a fee-for-service account holding mutual funds with a lower MER.

Answer: D

Explanation:
Explanation
A material conflict of interest is a situation where a Dealing Representative or their firm has an interest that could reasonably be expected to affect the exercise of their professional judgment or influence their actions or recommendations. A Dealing Representative must identify, disclose, and manage any material conflicts of interest in the best interest of their clients. Oscar has properly addressed the material conflict of interest arising from the higher MER by reporting it to his dealer, disclosing it to his client, and explaining how it is in the client's best interest. The other scenarios do not demonstrate proper management of material conflicts of interest.
References: Canadian Investment Funds Course, Chapter 8: Suitability and Know Your Client1


NEW QUESTION # 140
Greg, one of your clients, has been advised by a friend to invest in open-end mutual funds. He is not sure about the differences between open and closed-end funds.
What would you tell Greg about open-end funds?

  • A. Investors holding open-end funds can buy and sell their mutual funds anytime the stock market is open.
  • B. The number of units is not fixed, and varies with investor demand and redemption orders.
  • C. Units are bought and sold amongst the unitholders.
  • D. Initial shares in the mutual fund are allotted through an initial public offering (IPO)

Answer: B

Explanation:
Explanation
According to the Closed-End Funds vs. Open-End Funds: What's the Difference? - Investopedia, open-end funds are mutual funds that can issue an unlimited number of shares to investors. The number of units is not fixed, and varies with investor demand and redemption orders. Investors buy and sell open-end funds directly from the fund company at the net asset value (NAV) of the fund, which is calculated at the end of each trading day. Open-end funds are not traded on an exchange or in the secondary market.


NEW QUESTION # 141
Greg is a Dealing Representative. As a part of his business building activity, Greg prepares several messages to post on his website and Facebook page. Which statement CORRECTLY describes this situation?

  • A. Posting a sales communication to a website is prohibited by the Personal Information Protection and Electronic Documents Act (PIPEDA).
  • B. Greg's messages must be approved by his dealer before he can publish or issue the communication.
  • C. Greg must not discuss the investment performance, rankings, or ratings of a fund in his communication.
  • D. Posting messages to Facebook is prohibited by copyright's Anti-Spam Law (CASL).

Answer: B

Explanation:
Explanation
According to the MFDA rules, any sales communication that is prepared by a Member or an Approved Person, such as Greg, must be approved by the dealer in writing prior to its publication, issuance, or use. A sales communication is any communication that is intended to promote the business of the Member or the Approved Person, or the sale of securities, including any communication on a website or a social media platform. The dealer must ensure that the sales communication is fair, balanced, and not misleading, and that it complies with the applicable laws and regulations12 References = web search results from search_web(query="sales communication and mutual fund dealers association rules")12


NEW QUESTION # 142
Dakota is a Dealing Representative with Harvest Wealth Inc., a mutual fund dealer. Dakota starts a marketing campaign to contact prospective new clients and increase sales with existing clients. Which of the following CORRECTLY describes activities that Dakota can engage in under her marketing campaign?

  • A. Dakota can make telemarketing calls to clients who have opted in to receive commercial electronic messages (CEMs).
  • B. Dakota can send promotional emails to clients who have opted into Harvest Wealth's Do Not Call List
  • C. Dakota can make telemarketing calls to clients who are listed on the National Do Not Call List
  • D. Dakota can send promotional emails to clients who have opted in to receive commercial electronic messages (CEMs).

Answer: D


NEW QUESTION # 143
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