Free IFSE Institute CIFC Exam Dumps Questions & Answers

Which of the following individuals would qualify for a full or partial Old Age Security (OAS) pension?

• A.  Donald, who is 65 years old and has lived in Canada since his birth but worked in Australia for the past
  10 years.
• B.  Katrina, who is 75 years old and just immigrated to Canada from the U.S. last month.
• C.  Marcus, who is 60 years old, a Canadian citizen, and has lived in Canada for 20 years.
• D.  Lenny, who is 65 years old and was born and raised in Canada, but lived in Jamaica from ages 25 to 65.

Reagan has accepted a role to be the Chief Revenue Officer of a charitable organization. She is currently registered as a Dealing Representative for Sunshine Financial Services.
Which of the following would apply to her?

• A.  Holding both positions at the same time is a violation of securities industry rules and regulations .
• B.  Reagan is not required to inform her dealer of this outside activity if none of her colleagues from the charity become clients.
• C.  The dealer will closely monitor her sales activities to ensure any clients from the charity are not getting a discount on potential fees.
• D.  The regulator will limit her from providing financial services to anyone associated with the charity.

Winter is a Dealing Representative with Top Tier Investing, a mutual fund dealer and member of the Mutual Fund Dealers Association of Canada (MFDA). Which of the following statements about Winter's suitability obligation is CORRECT?
Winter is required to make a suitability determination every time:
i) she makes a recommendation to a client
ii) a client's investment returns decline.
iii) she opens a new client account
iv) the markets fluctuate.

• A.  i and iii
• B.  iii and iv
• C.  ii and iii
• D.  i and ii

Frederic recently sold his units in a US dollar (USD) denominated mutual fund. He wants to convert the proceeds back to Canadian dollars (CAD). If he received proceeds of $1,200 USD from the sale and the exchange rate is $1 CAD for $0.99 USD, how much will Frederic receive in Canadian dollars?

• A.  $1, 12.12
• B.  $1,320.00
• C.  $1-188.00
• D.  $1,200.00

Which of the following statements about total return for money market funds is TRUE?

• A.  Performance is displayed with both current yield and effective yield.
• B.  Current yield reflects the income earned on a money market fund for the most recent 14 day period.
• C.  Current yield incorporates the compounding effect.
• D.  Effective yield will always be lower than current yield.