Free Online IFSE Institute CIFC Practice Test

Prepare Your IFSE Institute CIFC Exam Questions with Free online CIFC Practice Test. Get Brilliant Canadian Investment Funds Course Exam Results with Valid CIFC Exam Dumps.

Page: 1 / 20

Total 100 Questions | Updated On: May 16, 2024

Add To Cart

Question 1

Xian-Li believes she is a sophisticated investor. She has constructed her own portfolio and has had some success. She does not believe in studying a company’s details such as earnings, expenses, or assets. She is more concerned with patterns in a company’s stock price over time. She believes patterns form and can be used to predict future movements in the market. How does Xian-Li evaluate the companies in her portfolio?

A : fundamental analysis

B : flowchart analysis

C : technical analysis

D : value analysis

Answer: C

Question 2

Karen’s know your client (KYC) profile corresponds to someone who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She watches the daily movements of the Toronto Stock Exchange (TSX) and wants a mutual fund that will closely match what she sees. What kind of mutual fund would be BEST for her?

A : Canadian small capitalization equity fund

B : Canadian equity index fund

C : Canadian dividend fund

D : Canadian bond fund

Answer: B

Question 3

Which of the following statements about your mutual fund registration is CORRECT?

A : You can sell mutual funds anywhere in Canada as long as you are registered with one of the provincial or territorial securities commissions.

B : Your online application must be reviewed and approved by your mutual fund dealer before you can begin to sell mutual funds

C : You must renew your registration through the online NRD system every two years

D : You must inform the regulatory authorities of any material or significant changes to your personal circumstances.

Answer: D

Question 4

Maalik opens an account for a new client, John. During the new account process, Maalik determines that he will need to confirm John’s identity. Which of the following statements about Maalik’s identification requirements is CORRECT?

A : If Maalik determines that there is anything suspicious about John’s transaction, he is required to report the matter to his dealer. The dealer must report the matter to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

B : If Maalik learns that John is the president of a state-owned company, Maalik is required to report John as a Politically Exposed Foreign Person (PEFP) to his dealer. If John is not a US person, the dealer must report the account to the Internal Revenue Service (IRS)

C : If John wants to make a large cash deposit of $10,000 or more, Maalik is required to collect personal information about John and report it to his dealer. The dealer must report the information to the Canada Revenue Agency (CRA)

D : If John attempts to make a suspicious deposit, Maalik is required to report the attempt to his dealer. The dealer must keep records of attempted suspicious transactions that are not reported to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Answer: A

Question 5

Yesterday, Mariana purchased mutual funds for the first time from Diablo, who is a Dealing Representative for Horizon Financial. When Mariana mentions to her friend Marcus that she just started to invest, Marcus confides that he experienced losses from mutual fund investing. Her initial feelings of excitement have now changed to worry and regret. She wished she had talked to her friend before investing and wonders if she can change her mind. Which statement regarding the right of withdrawal applies?

A : The right of withdrawal is based on the securities act legislation within the jurisdiction the purchase occurred

B : Before Mariana can cancel her order, she must wait two business days to pass before she can cancel her order

C : How the right of withdrawal can be applied is determined by the Mutual Fund Dealers Association of Canada’s conduct rules.

D : The Canadian Securities Administrators have instituted national instruments regarding Mariana’s right to cancel her order.

Answer: A

Page: 1 / 20

Total 100 Questions | Updated On: May 16, 2024

Add To Cart