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New CIFC Testking Free PDF | High Pass-Rate Exam CIFC Dumps: Canadian Investment Funds Course Exam

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IFSE Institute CIFC Exam Syllabus Topics:

Topic
Details

Topic 1

Retirement: This section of the exam measures the skills of retirement planners and covers the investment planning strategies and account types used to prepare for retirement. It includes registered plans, income needs, and withdrawal planning.

Topic 2

Registrant Responsibilities: This section of the exam measures the skills of investment advisors and covers the obligations and ethical duties that come with being a registered professional. It includes understanding know-your-client procedures, disclosure rules, and the importance of acting in clients’ best interests.

Topic 3

Types of Investments: This section of the exam measures the skills of wealth managers and covers the features, risks, and benefits of various investment products. It ensures understanding of stocks, bonds, ETFs, GICs, and other instruments typically included in diversified portfolios.

Topic 4

Types of Mutual Funds: This section of the exam measures the skills of fund sales representatives and covers the structure, benefits, and objectives of different mutual fund categories. It includes equity, fixed income, balanced, index, and specialty funds.

Topic 5

Economic Factors and Financial Markets: This section of the exam measures the skills of market analysts and covers the basic economic principles and financial market structures that impact investment performance. It includes interest rates, inflation, and economic cycles as they relate to investment decision-making.

Topic 6

Making Recommendations & Case Study: This section of the exam measures the skills of client advisors and covers the practical application of investment knowledge through real-world client scenarios. It involves synthesizing client information to make suitable investment recommendations.

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Exam CIFC Dumps | CIFC Valid Exam Question

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IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q178-Q183):

NEW QUESTION # 178
Sandra presently participates in her employer-sponsored defined contribution pension plan (DCPP). As contributions continue to be made into her plan, what can she expect?

A. The employer will solely make contributions to her DCPP based on a prescribed formula noted within her plan.
B. Retirement benefits will be based on a prescribed formula that can be referenced from the plan's terms and conditions.
C. To ensure she has savings at retirement, the employer will choose stable investments to grow her retirement savings.
D. Her available registered retirement savings plan (RRSP) contribution room will be reduced by what is being contributed to her plan.

Answer: D

Explanation:
Explanation
A defined contribution pension plan (DCPP) is a type of retirement savings plan where the employer and/or employee make contributions to an individual account for the employee. The retirement benefits depend on the amount of contributions and the investment returns. Contributions to a DCPP reduce the employee's available registered retirement savings plan (RRSP) contribution room, which is the maximum amount that can be contributed to an RRSP each year without tax penalties. References: Canadian Investment Funds Course (CIFC) | IFSE Institute, Unit 9, Lesson 1

NEW QUESTION # 179
Raybert has a very short-term investment objective and has decided to purchase money market instruments.
There are plenty of 90-day money market securities available for him to choose from. Although Raybert is aware that all the respective issuers have a similar need for his capital, no matter what he decides, he can only afford to purchase one.
In terms of financial markets and their relationship to the principles of supply and demand, which characteristic of investment capital are the issuers being exposed to?

A. Mobility
B. Scarcity
C. Risk
D. Sensitivity

Answer: B

Explanation:
Explanation
Scarcity is a characteristic of investment capital that refers to the limited availability of capital relative to the demand for it. Scarcity affects the price and return of capital, as well as the allocation of capital among different issuers and sectors. When capital is scarce, issuers have to compete for it by offering higher returns or lower prices, or by adjusting their financing strategies. When capital is abundant, issuers have more access to it at lower costs or higher prices, or by diversifying their sources of capital. In this case, Raybert has a very short-term investment objective and has decided to purchase money market instruments. There are plenty of
90-day money market securities available for him to choose from, but he can only afford to purchase one. This means that the issuers of these securities are exposed to the scarcity of capital, as they have to attract Raybert and other investors with similar objectives by offering competitive rates or discounts.
References = Canadian Investment Funds Course, Unit 5: Types of Investments, Lesson 1: Economic Factors and Financial Markets, Section 5.1.1: Characteristics of Investment Capital1; CIFC prepkit, Chapter 5: Types of Investments, Question 5.1.1 2

NEW QUESTION # 180
Josephine is a Dealing Representative with Sunshine Mutual Funds Inc. for over 10 years. Her brother Jonathan has an account with Sunshine Mutual Funds Inc., too. Jonathan wants Josephine to manage his portfolio and make investment decisions on his behalf. Jonathan trusts his sister to make better investment choices than he can. He also wants to give Power of Attorney (POA) to Josephine so she can have full authority over his account.
How can Josephine respond to her brother's request?

A. Josephine can accept a limited POA.
B. Josephine should accept the POA after making a full disclosure to her dealer about the POA.
C. Josephine cannot accept the POA as she is not the immediate family.
D. Josephine can accept the POA as it is an exception that is permitted under the MFDA rules.

Answer: A

Explanation:
Explanation
According to the MFDA rules, a Member or an Approved Person cannot accept or act upon a general power of attorney or other similar authorization from a client in favour of the Member or Approved Person, unless the client is a spouse, parent, or child of the Approved Person and certain conditions are met. However, a Member or an Approved Person can accept a limited trading authorization from a client, which allows the Member or Approved Person to execute trades on behalf of the client, but not to engage in any discretionary trading.
Therefore, Josephine can accept a limited POA from her brother, as long as she does not make any investment decisions without his consent.
References = Canadian Investment Funds Course (CIFC) - Module 1: The Financial Services Industry - Section 1.3: Know Your Client (KYC)1 and web search results from search_web(query="power of attorney and mutual fund dealers association rules")23
1: https://www.ifse.ca/wp-content/uploads/2021/08/CIFC-Module-1.pdf

NEW QUESTION # 181
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. You must renew your registration through the online NRD system every two years.
C. Your online application must be reviewed and approved by your mutual fund dealer before you can begin to sell mutual funds.
D. You must inform the regulatory authorities of any material or significant changes to your personal circumstances.

Answer: D

Explanation:
Explanation
According to the Registered Investments (RIs) - Canada.ca, you must inform the regulatory authorities of any material or significant changes to your personal circumstances, such as a change of name, address, or employment status. You must also report any disciplinary actions, criminal charges, or civil lawsuits that may affect your suitability as a registrant. Failing to do so may result in suspension or revocation of your registration.

NEW QUESTION # 182
Every February, Reginald, a Dealing Representative, feels pressured by his Manager to generate new registered retirement savings plans (RRSP) and contributions to assist the branch in meeting broader business targets. Reginald is nearing the end of February, and he has a meeting with a new client, Orel. Orel wants to open a tax-free savings account (TFSA) to develop emergency savings because he does not want to worry about his withdrawals being taxed. Reginald suggests that if Orel were to contribute to an RRSP first, then the resulting tax savings could be used to fund a new emergency account.
In relation to account suitability, what can be said about Reginald's advice?

A. Reginald is putting the client's interest first by informing Orel why he should change his purpose for investing.
B. By convincing Orel to contribute an RRSP, instead of a TFSA, Reginald has put his client's interest first.
C. Based on Orel's stated need, recommending an RRSP contribution is unsuitable.
D. Recommending an investment solution that addresses two needs is putting Reginald's client's interest first

Answer: C

Explanation:
Explanation
Based on Orel's stated need, recommending an RRSP contribution is unsuitable because RRSP withdrawals are taxed as income and may affect Orel's eligibility for government benefits. A TFSA is more suitable for Orel's goal of developing emergency savings because TFSA withdrawals are tax-free and do not affect income-tested benefits. References: Investment Funds in Canada (IFC) | Canadian Securities Institute

NEW QUESTION # 183
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