{"id":102763,"date":"2025-06-02T08:16:35","date_gmt":"2025-06-02T08:16:35","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=102763"},"modified":"2025-09-16T08:38:14","modified_gmt":"2025-09-16T08:38:14","slug":"efficiently-prepare-for-your-canadian-investment-funds-course-cifc-exam-with-updated-cifc-dumps-v9-02-read-cifc-free-dumps-part-1-q1-q40-to-check-the-quality","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/efficiently-prepare-for-your-canadian-investment-funds-course-cifc-exam-with-updated-cifc-dumps-v9-02-read-cifc-free-dumps-part-1-q1-q40-to-check-the-quality.html","title":{"rendered":"Efficiently Prepare for Your Canadian Investment Funds Course (CIFC) Exam with Updated CIFC Dumps (V9.02): Read CIFC Free Dumps (Part 1, Q1-Q40) to Check the Quality"},"content":{"rendered":"<p>You can efficiently prepare for the Canadian Investment Funds Course (CIFC) exam with updated CIFC dumps (V9.02) of DumpsBase. Our updated dumps come with 224 practice exam questions and answers, which are specifically designed to reflect the real exam format and objectives, helping you focus on what matters most. DumpsBase not only provides accurate CIFC dumps but also ensures affordability. By taking advantage of <a href=\"https:\/\/www.dumpsbase.com\/page\/promotion.html\"><em><strong>a 28% discount<\/strong><\/em><\/a> and multiple formats offers, you can save significantly while still accessing premium-quality preparation materials. The CIFC dumps come with real exam questions and answers that help you understand core concepts and boost your score effectively. Every question in the CIFC exam dumps (V9.02) is crafted by industry professionals to align with the actual exam standards. With access to free dumps, you can review the quality of the CIFC dumps before making a purchase.<\/p>\n<h2>Check <em><strong><span style=\"background-color: #00ffff;\">CIFC free dumps (Part 1, Q1-Q40) below<\/span><\/strong><\/em> to verify the quality:<\/h2>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam10084\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-10084\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-10084\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-400587'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>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\u2019s details such as earnings, expenses, or assets. She is more concerned with patterns in a company\u2019s stock price over time. She believes patterns form and can be used to predict future movements in the market. <br \/>\r<br>How does Xian-Li evaluate the companies in her portfolio?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='400587' \/><input type='hidden' id='answerType400587' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400587[]' id='answer-id-1555573' class='answer   answerof-400587 ' value='1555573'   \/><label for='answer-id-1555573' id='answer-label-1555573' class=' answer'><span>fundamental analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400587[]' id='answer-id-1555574' class='answer   answerof-400587 ' value='1555574'   \/><label for='answer-id-1555574' id='answer-label-1555574' class=' answer'><span>flowchart analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400587[]' id='answer-id-1555575' class='answer   answerof-400587 ' value='1555575'   \/><label for='answer-id-1555575' id='answer-label-1555575' class=' answer'><span>technical analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400587[]' id='answer-id-1555576' class='answer   answerof-400587 ' value='1555576'   \/><label for='answer-id-1555576' id='answer-label-1555576' class=' answer'><span>value analysis<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-400588'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>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. <br \/>\r<br>Which statement regarding the right of withdrawal applies?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='400588' \/><input type='hidden' id='answerType400588' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400588[]' id='answer-id-1555577' class='answer   answerof-400588 ' value='1555577'   \/><label for='answer-id-1555577' id='answer-label-1555577' class=' answer'><span>The right of withdrawal is based on the securities act legislation within the jurisdiction the purchase occurred.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400588[]' id='answer-id-1555578' class='answer   answerof-400588 ' value='1555578'   \/><label for='answer-id-1555578' id='answer-label-1555578' class=' answer'><span>Before Mariana can cancel her order, she must wait two business days to pass before she can \r\ncancel her order.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400588[]' id='answer-id-1555579' class='answer   answerof-400588 ' value='1555579'   \/><label for='answer-id-1555579' id='answer-label-1555579' class=' answer'><span>How the right of withdrawal can be applied is determined by the Mutual Fund Dealers Association of Canada's conduct rules.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400588[]' id='answer-id-1555580' class='answer   answerof-400588 ' value='1555580'   \/><label for='answer-id-1555580' id='answer-label-1555580' class=' answer'><span>The Canadian Securities Administrators have instituted national instruments regarding Mariana's right to cancel her order.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-400589'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Iliana owns 1,000 participating preferred shares in the First Canadian Bank. <br \/>\r<br>Which of the following features are characteristic of her investment?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='400589' \/><input type='hidden' id='answerType400589' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400589[]' id='answer-id-1555581' class='answer   answerof-400589 ' value='1555581'   \/><label for='answer-id-1555581' id='answer-label-1555581' class=' answer'><span>Iliana has the right to purchase more preferred shares in the company before common shareholders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400589[]' id='answer-id-1555582' class='answer   answerof-400589 ' value='1555582'   \/><label for='answer-id-1555582' id='answer-label-1555582' class=' answer'><span>Iliana is able to vote at the annual general meeting and elect members of the board of directors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400589[]' id='answer-id-1555583' class='answer   answerof-400589 ' value='1555583'   \/><label for='answer-id-1555583' id='answer-label-1555583' class=' answer'><span>Iliana can convert her preferred shares to common shares at a fixed price and within a specified time period.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400589[]' id='answer-id-1555584' class='answer   answerof-400589 ' value='1555584'   \/><label for='answer-id-1555584' id='answer-label-1555584' class=' answer'><span>Iliana has a right to share in the bank's net profits over and above the specified dividend rate.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-400590'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>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. <br \/>\r<br>What would be useful for her to know?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='400590' \/><input type='hidden' id='answerType400590' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400590[]' id='answer-id-1555585' class='answer   answerof-400590 ' value='1555585'   \/><label for='answer-id-1555585' id='answer-label-1555585' class=' answer'><span>Wilma's marginal tax rate may be lowered when tax deductions are applied to her total income.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400590[]' id='answer-id-1555586' class='answer   answerof-400590 ' value='1555586'   \/><label for='answer-id-1555586' id='answer-label-1555586' class=' answer'><span>Wilma's top marginal tax rate will be applied to every taxable dollar when her tax return is filed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400590[]' id='answer-id-1555587' class='answer   answerof-400590 ' value='1555587'   \/><label for='answer-id-1555587' id='answer-label-1555587' class=' answer'><span>Wilma's tax deductions permit her to reduce her tax payable dollar-for-dollar.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400590[]' id='answer-id-1555588' class='answer   answerof-400590 ' value='1555588'   \/><label for='answer-id-1555588' id='answer-label-1555588' class=' answer'><span>Wilma's non-refundable tax credits may only reduce her taxable income dollar-for-dollar.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-400591'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>One of your clients, Fernando, is approaching 71 years of age and has a few questions regarding life income funds (LIFs). <br \/>\r<br>Which of the following statements about LIFs is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='400591' \/><input type='hidden' id='answerType400591' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400591[]' id='answer-id-1555589' class='answer   answerof-400591 ' value='1555589'   \/><label for='answer-id-1555589' id='answer-label-1555589' class=' answer'><span>Fernando may make contributions to his LIF if he continues working.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400591[]' id='answer-id-1555590' class='answer   answerof-400591 ' value='1555590'   \/><label for='answer-id-1555590' id='answer-label-1555590' class=' answer'><span>Fernando is free to withdraw any amount from his LIF above the minimum amount.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400591[]' id='answer-id-1555591' class='answer   answerof-400591 ' value='1555591'   \/><label for='answer-id-1555591' id='answer-label-1555591' class=' answer'><span>Fernando can transfer money from his registered retirement savings plan (RRSP) to a LI<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400591[]' id='answer-id-1555592' class='answer   answerof-400591 ' value='1555592'   \/><label for='answer-id-1555592' id='answer-label-1555592' class=' answer'><span>Fernando can transfer money from his locked-in retirement account (LIRA) to a LI<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-400592'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Janine will celebrate her 71st birthday this year. She currently has a lot of money in a personal registered retirement savings plan (RRSP) and knows there are rules about what she can do with those funds. <br \/>\r<br>Which of the following is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='400592' \/><input type='hidden' id='answerType400592' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400592[]' id='answer-id-1555593' class='answer   answerof-400592 ' value='1555593'   \/><label for='answer-id-1555593' id='answer-label-1555593' class=' answer'><span>She can convert her RRSP to a locked-in retirement income fund (LRIF).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400592[]' id='answer-id-1555594' class='answer   answerof-400592 ' value='1555594'   \/><label for='answer-id-1555594' id='answer-label-1555594' class=' answer'><span>She can convert her RRSP to a registered retirement income fund (RRIF) this year or by December 31st of next year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400592[]' id='answer-id-1555595' class='answer   answerof-400592 ' value='1555595'   \/><label for='answer-id-1555595' id='answer-label-1555595' class=' answer'><span>She can take the entire amount in cash, with no tax consequences because her RRSP funds were tax-sheltered.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400592[]' id='answer-id-1555596' class='answer   answerof-400592 ' value='1555596'   \/><label for='answer-id-1555596' id='answer-label-1555596' class=' answer'><span>She can purchase a registered term or life annuity.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-400593'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>With respect to the tax treatment of dividends received from a taxable Canadian corporation, which of the following statements is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='400593' \/><input type='hidden' id='answerType400593' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400593[]' id='answer-id-1555597' class='answer   answerof-400593 ' value='1555597'   \/><label for='answer-id-1555597' id='answer-label-1555597' class=' answer'><span>Dividends are taxed the same way interest income is taxed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400593[]' id='answer-id-1555598' class='answer   answerof-400593 ' value='1555598'   \/><label for='answer-id-1555598' id='answer-label-1555598' class=' answer'><span>Dividends from both preferred and common shares of Canadian corporations receive preferential \r\ntax treatment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400593[]' id='answer-id-1555599' class='answer   answerof-400593 ' value='1555599'   \/><label for='answer-id-1555599' id='answer-label-1555599' class=' answer'><span>Dividends from non-resident corporations receive preferential tax treatment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400593[]' id='answer-id-1555600' class='answer   answerof-400593 ' value='1555600'   \/><label for='answer-id-1555600' id='answer-label-1555600' class=' answer'><span>Only 50% of dividend income is subject to tax.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-400594'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>What information does Fund Facts provide to potential investors?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='400594' \/><input type='hidden' id='answerType400594' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400594[]' id='answer-id-1555601' class='answer   answerof-400594 ' value='1555601'   \/><label for='answer-id-1555601' id='answer-label-1555601' class=' answer'><span>What the mutual fund is currently investing in.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400594[]' id='answer-id-1555602' class='answer   answerof-400594 ' value='1555602'   \/><label for='answer-id-1555602' id='answer-label-1555602' class=' answer'><span>How to calculate the taxes owed from investment income.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400594[]' id='answer-id-1555603' class='answer   answerof-400594 ' value='1555603'   \/><label for='answer-id-1555603' id='answer-label-1555603' class=' answer'><span>The portfolio management strategy that is used.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400594[]' id='answer-id-1555604' class='answer   answerof-400594 ' value='1555604'   \/><label for='answer-id-1555604' id='answer-label-1555604' class=' answer'><span>The remuneration paid to the Independent Review Committee.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-400595'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>You have been researching Canadian equity mutual funds for a new client. <br \/>\r<br>You come across the following information. <br \/>\r<br><br><img decoding=\"async\" width=367 height=362 id=\"\u56fe\u7247 7\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2025\/05\/image001-44.jpg\"><br><br \/>\r<br>What can you conclude from this information?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='400595' \/><input type='hidden' id='answerType400595' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400595[]' id='answer-id-1555605' class='answer   answerof-400595 ' value='1555605'   \/><label for='answer-id-1555605' id='answer-label-1555605' class=' answer'><span>Chamberlain Equity Fund has lower volatility since its 5-year annualized return is higher.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400595[]' id='answer-id-1555606' class='answer   answerof-400595 ' value='1555606'   \/><label for='answer-id-1555606' id='answer-label-1555606' class=' answer'><span>Fontaine Equity Fund is a better fund because it has a higher quartile ranking.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400595[]' id='answer-id-1555607' class='answer   answerof-400595 ' value='1555607'   \/><label for='answer-id-1555607' id='answer-label-1555607' class=' answer'><span>Fontaine Equity Fund has a lower risk level since its Sharpe Ratio is lower.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400595[]' id='answer-id-1555608' class='answer   answerof-400595 ' value='1555608'   \/><label for='answer-id-1555608' id='answer-label-1555608' class=' answer'><span>Fontaine Equity Fund's higher MER contributes to its lower 5-year annualized return.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-400596'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>Gershon is a Dealing Representative and he opens a new account for his client, Isaac. Gershon collects the necessary information from Isaac in order to designate the Trusted Contact Person (TCP) for Isaac\u2019s account. <br \/>\r<br>Which of the following statements about Isaac\u2019s TCP is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='400596' \/><input type='hidden' id='answerType400596' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400596[]' id='answer-id-1555609' class='answer   answerof-400596 ' value='1555609'   \/><label for='answer-id-1555609' id='answer-label-1555609' class=' answer'><span>The TCP is an alternative to a Power of Attorney (PQA) and has the authority to make changes to \r\nIsaac's account and direct trading.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400596[]' id='answer-id-1555610' class='answer   answerof-400596 ' value='1555610'   \/><label for='answer-id-1555610' id='answer-label-1555610' class=' answer'><span>The TCP is an alternative authority on Isaac's account that has the power to place a temporary hold on Isaac's account to disallow trading.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400596[]' id='answer-id-1555611' class='answer   answerof-400596 ' value='1555611'   \/><label for='answer-id-1555611' id='answer-label-1555611' class=' answer'><span>The TCP is the person whom Gershon can speak to if he becomes concerned about Isaac's mental capacity to make financial decisions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400596[]' id='answer-id-1555612' class='answer   answerof-400596 ' value='1555612'   \/><label for='answer-id-1555612' id='answer-label-1555612' class=' answer'><span>The TCP is the person who is designated with authority to direct financial dealings for Isaac's account and make financial decisions.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-400597'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>When you buy a put option, which of the following is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='400597' \/><input type='hidden' id='answerType400597' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400597[]' id='answer-id-1555613' class='answer   answerof-400597 ' value='1555613'   \/><label for='answer-id-1555613' id='answer-label-1555613' class=' answer'><span>You have the right to sell a set number of shares at a set price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400597[]' id='answer-id-1555614' class='answer   answerof-400597 ' value='1555614'   \/><label for='answer-id-1555614' id='answer-label-1555614' class=' answer'><span>You have the right to purchase a set number of shares at a set price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400597[]' id='answer-id-1555615' class='answer   answerof-400597 ' value='1555615'   \/><label for='answer-id-1555615' id='answer-label-1555615' class=' answer'><span>You have the obligation to sell a set number of shares at a set price.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400597[]' id='answer-id-1555616' class='answer   answerof-400597 ' value='1555616'   \/><label for='answer-id-1555616' id='answer-label-1555616' class=' answer'><span>You have the obligation to buy a set number of shares at a set price.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-400598'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>David had $10,000 in his investment account with Dynamic Investments, a mutual funds dealer. On June 28, David wants to buy 500 units in ABC Canadian Dividend Fund that has a Net Asset Value Per Unit (NAVPU) of $14.10. His friend Robert suggests that he may get a better price if he used the strategy of dollar-cost averaging. David then instructs his Dealing Representative to place a purchase order for 100 units on the first of every month starting July 1st for the next 5 months. <br \/>\r<br>The orders are executed at the following NAVPUs. <br \/>\r<br>July 01, $14.00 <br \/>\r<br>Aug. 01, $14.50 <br \/>\r<br>Sep. 01, $15.00 <br \/>\r<br>Oct. 01, $14.25 <br \/>\r<br>Nov. 01, $16.50 <br \/>\r<br>Did David get a better purchase price following the dollar-cost averaging strategy compared to making a lump-sum purchase of 500 shares on Jun 28, 20xx?<\/div><input type='hidden' name='question_id[]' id='qID_12' value='400598' \/><input type='hidden' id='answerType400598' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400598[]' id='answer-id-1555617' class='answer   answerof-400598 ' value='1555617'   \/><label for='answer-id-1555617' id='answer-label-1555617' class=' answer'><span>David got his 500 units at the same price as the lump sum price he would have paid.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400598[]' id='answer-id-1555618' class='answer   answerof-400598 ' value='1555618'   \/><label for='answer-id-1555618' id='answer-label-1555618' class=' answer'><span>David got his 500 units at a lower price than the lump sum price he would have paid.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400598[]' id='answer-id-1555619' class='answer   answerof-400598 ' value='1555619'   \/><label for='answer-id-1555619' id='answer-label-1555619' class=' answer'><span>David realizes that Dollar cost averaging is the best strategy for getting lower prices.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400598[]' id='answer-id-1555620' class='answer   answerof-400598 ' value='1555620'   \/><label for='answer-id-1555620' id='answer-label-1555620' class=' answer'><span>David got his 500 units at a higher price than the lump sum price he would have paid<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-400599'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Your client, Helen, just received her non-registered account statement which states that one of her mutual funds made an interest income distribution during the year. She asks you how she will be taxed on the distribution. <br \/>\r<br>What do you tell Helen?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='400599' \/><input type='hidden' id='answerType400599' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400599[]' id='answer-id-1555621' class='answer   answerof-400599 ' value='1555621'   \/><label for='answer-id-1555621' id='answer-label-1555621' class=' answer'><span>She will pay taxes on 50% of the distribution.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400599[]' id='answer-id-1555622' class='answer   answerof-400599 ' value='1555622'   \/><label for='answer-id-1555622' id='answer-label-1555622' class=' answer'><span>She will pay taxes at her top marginal tax rate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400599[]' id='answer-id-1555623' class='answer   answerof-400599 ' value='1555623'   \/><label for='answer-id-1555623' id='answer-label-1555623' class=' answer'><span>She will pay taxes on the grossed-up amount of the income.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400599[]' id='answer-id-1555624' class='answer   answerof-400599 ' value='1555624'   \/><label for='answer-id-1555624' id='answer-label-1555624' class=' answer'><span>She will pay taxes at her average tax rate.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-400600'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Quinton, a Dealing Representative, meets with his client Banji. Banji\u2019s Know Your Client (KYC) indicates that her risk profile is \u201cmedium\u2019\u2019. Banji currently has $35,000 in her account which is invested 50% in the Middleton Balanced Fund and 50% in the Hector Growth Fund. She tells Quinton that she would like to contribute an additional $10,000 to purchase the Prospect Labour-Sponsored Fund. <br \/>\r<br>Which of the following statements about Banji\u2019s proposed transaction is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='400600' \/><input type='hidden' id='answerType400600' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400600[]' id='answer-id-1555625' class='answer   answerof-400600 ' value='1555625'   \/><label for='answer-id-1555625' id='answer-label-1555625' class=' answer'><span>Quinton can proceed with the purchase of the Prospect Labour-Sponsored Fund because it is suitable for Banji based on her current KY<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400600[]' id='answer-id-1555626' class='answer   answerof-400600 ' value='1555626'   \/><label for='answer-id-1555626' id='answer-label-1555626' class=' answer'><span>Quinton should update Banji's risk profile to &quot;high&quot; so that he can proceed with the purchase of the Prospect Labour-Sponsored Fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400600[]' id='answer-id-1555627' class='answer   answerof-400600 ' value='1555627'   \/><label for='answer-id-1555627' id='answer-label-1555627' class=' answer'><span>Quinton should not proceed with the purchase of the Prospect Labour-Sponsored Fund because it is not suitable for Banji based on her current KY<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400600[]' id='answer-id-1555628' class='answer   answerof-400600 ' value='1555628'   \/><label for='answer-id-1555628' id='answer-label-1555628' class=' answer'><span>Quinton must provide Banji with full disclosure about the risks so that he can proceed with the purchase of the Prospect Labour-Sponsored Fund.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-400601'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>What type of mutual fund can invest in specified derivatives and forward contracts for grains, meats, metals, energy products, and coffee?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='400601' \/><input type='hidden' id='answerType400601' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400601[]' id='answer-id-1555629' class='answer   answerof-400601 ' value='1555629'   \/><label for='answer-id-1555629' id='answer-label-1555629' class=' answer'><span>global equity fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400601[]' id='answer-id-1555630' class='answer   answerof-400601 ' value='1555630'   \/><label for='answer-id-1555630' id='answer-label-1555630' class=' answer'><span>commodity pool<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400601[]' id='answer-id-1555631' class='answer   answerof-400601 ' value='1555631'   \/><label for='answer-id-1555631' id='answer-label-1555631' class=' answer'><span>labour-sponsored investment fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400601[]' id='answer-id-1555632' class='answer   answerof-400601 ' value='1555632'   \/><label for='answer-id-1555632' id='answer-label-1555632' class=' answer'><span>specialty fund<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-400602'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>When comparing mutual funds, what information would help a Dealing Representative determine a suitable mutual fund for a client?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='400602' \/><input type='hidden' id='answerType400602' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400602[]' id='answer-id-1555633' class='answer   answerof-400602 ' value='1555633'   \/><label for='answer-id-1555633' id='answer-label-1555633' class=' answer'><span>Comparing historical rates of return between different types of mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400602[]' id='answer-id-1555634' class='answer   answerof-400602 ' value='1555634'   \/><label for='answer-id-1555634' id='answer-label-1555634' class=' answer'><span>Assessing historical differences in the rate of return per unit of risk of similar mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400602[]' id='answer-id-1555635' class='answer   answerof-400602 ' value='1555635'   \/><label for='answer-id-1555635' id='answer-label-1555635' class=' answer'><span>Referencing the fund code for each mutual fund that is being compared.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400602[]' id='answer-id-1555636' class='answer   answerof-400602 ' value='1555636'   \/><label for='answer-id-1555636' id='answer-label-1555636' class=' answer'><span>The rights a client has if there is a desire to cancel the purchased mutual fund.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-400603'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Francis wants to redeem his US Asset Allocation Fund as he needs the money for a down payment for a home purchase. The current proceeds from the redemption are USD $27,859, and the current CAD\/USD exchange rate is 0.7353. <br \/>\r<br>How much will Francis receive in Canadian dollars when he redeems the Funds? Please round your answer to the nearest dollar.<\/div><input type='hidden' name='question_id[]' id='qID_17' value='400603' \/><input type='hidden' id='answerType400603' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400603[]' id='answer-id-1555637' class='answer   answerof-400603 ' value='1555637'   \/><label for='answer-id-1555637' id='answer-label-1555637' class=' answer'><span>$37,888<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400603[]' id='answer-id-1555638' class='answer   answerof-400603 ' value='1555638'   \/><label for='answer-id-1555638' id='answer-label-1555638' class=' answer'><span>$36,698<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400603[]' id='answer-id-1555639' class='answer   answerof-400603 ' value='1555639'   \/><label for='answer-id-1555639' id='answer-label-1555639' class=' answer'><span>$42,861<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400603[]' id='answer-id-1555640' class='answer   answerof-400603 ' value='1555640'   \/><label for='answer-id-1555640' id='answer-label-1555640' class=' answer'><span>$35,859<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-400604'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>The owners of Underground Airways Ltd. want to take their privately owned corporation public through an initial public offering (IPO). They are speaking to a specialist from an investment dealer to determine whether it would be advisable to become listed on a stock exchange or the over-the-counter (OTC) market. <br \/>\r<br>In comparing the two options, which of the following considerations is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='400604' \/><input type='hidden' id='answerType400604' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400604[]' id='answer-id-1555641' class='answer   answerof-400604 ' value='1555641'   \/><label for='answer-id-1555641' id='answer-label-1555641' class=' answer'><span>A stock exchange listing would provide Underground with greater market exposure and public confidence than listing on the OTC market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400604[]' id='answer-id-1555642' class='answer   answerof-400604 ' value='1555642'   \/><label for='answer-id-1555642' id='answer-label-1555642' class=' answer'><span>Underground would still be directly involved in the trading of their shares on either market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400604[]' id='answer-id-1555643' class='answer   answerof-400604 ' value='1555643'   \/><label for='answer-id-1555643' id='answer-label-1555643' class=' answer'><span>Underground would be subject to less stringent listing requirements if they chose the stock exchange as compared to the OTC market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400604[]' id='answer-id-1555644' class='answer   answerof-400604 ' value='1555644'   \/><label for='answer-id-1555644' id='answer-label-1555644' class=' answer'><span>If Underground chose to list on the OTC market, there would be no secondary market available for investors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-400605'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>Sven owns preferred shares that give him the option to sell his holdings back to the issuing company at a predetermined price and within a specified time. <br \/>\r<br>What type of preferred shares does Sven own?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='400605' \/><input type='hidden' id='answerType400605' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400605[]' id='answer-id-1555645' class='answer   answerof-400605 ' value='1555645'   \/><label for='answer-id-1555645' id='answer-label-1555645' class=' answer'><span>retractable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400605[]' id='answer-id-1555646' class='answer   answerof-400605 ' value='1555646'   \/><label for='answer-id-1555646' id='answer-label-1555646' class=' answer'><span>participating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400605[]' id='answer-id-1555647' class='answer   answerof-400605 ' value='1555647'   \/><label for='answer-id-1555647' id='answer-label-1555647' class=' answer'><span>convertible<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400605[]' id='answer-id-1555648' class='answer   answerof-400605 ' value='1555648'   \/><label for='answer-id-1555648' id='answer-label-1555648' class=' answer'><span>redeemable<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-400606'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following characteristics about mortgage mutual funds is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='400606' \/><input type='hidden' id='answerType400606' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400606[]' id='answer-id-1555649' class='answer   answerof-400606 ' value='1555649'   \/><label for='answer-id-1555649' id='answer-label-1555649' class=' answer'><span>typically monthly distributions of interest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400606[]' id='answer-id-1555650' class='answer   answerof-400606 ' value='1555650'   \/><label for='answer-id-1555650' id='answer-label-1555650' class=' answer'><span>if interest rates fall, the mutual fund's net asset value per unit (NAVPU) will decline<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400606[]' id='answer-id-1555651' class='answer   answerof-400606 ' value='1555651'   \/><label for='answer-id-1555651' id='answer-label-1555651' class=' answer'><span>suitable only for high risk investors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400606[]' id='answer-id-1555652' class='answer   answerof-400606 ' value='1555652'   \/><label for='answer-id-1555652' id='answer-label-1555652' class=' answer'><span>risk-free where the mortgages are National Housing Act (NHA) insured<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-400607'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Which of the following statements about capital gains distributions from mutual fund trusts is correct?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='400607' \/><input type='hidden' id='answerType400607' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400607[]' id='answer-id-1555653' class='answer   answerof-400607 ' value='1555653'   \/><label for='answer-id-1555653' id='answer-label-1555653' class=' answer'><span>Capital gains from mutual fund trusts are deferred until the investor exits the mutual fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400607[]' id='answer-id-1555654' class='answer   answerof-400607 ' value='1555654'   \/><label for='answer-id-1555654' id='answer-label-1555654' class=' answer'><span>Capital gains distributions from a mutual fund trust are reported annually on a T3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400607[]' id='answer-id-1555655' class='answer   answerof-400607 ' value='1555655'   \/><label for='answer-id-1555655' id='answer-label-1555655' class=' answer'><span>Capital gains distributions are not a disposition and are therefore not taxable.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400607[]' id='answer-id-1555656' class='answer   answerof-400607 ' value='1555656'   \/><label for='answer-id-1555656' id='answer-label-1555656' class=' answer'><span>Capital gains from mutual fund distributions are 100% taxable.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-400608'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Which of the following is a rationale for a portfolio manager to use a passive portfolio management strategy?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='400608' \/><input type='hidden' id='answerType400608' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400608[]' id='answer-id-1555657' class='answer   answerof-400608 ' value='1555657'   \/><label for='answer-id-1555657' id='answer-label-1555657' class=' answer'><span>The manager does not believe in using benchmarks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400608[]' id='answer-id-1555658' class='answer   answerof-400608 ' value='1555658'   \/><label for='answer-id-1555658' id='answer-label-1555658' class=' answer'><span>The manager wishes to create capital gains in the mutual fund by frequently buying and selling stocks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400608[]' id='answer-id-1555659' class='answer   answerof-400608 ' value='1555659'   \/><label for='answer-id-1555659' id='answer-label-1555659' class=' answer'><span>The manager believes he or she can outperform the market with his or her stock picking skills.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400608[]' id='answer-id-1555660' class='answer   answerof-400608 ' value='1555660'   \/><label for='answer-id-1555660' id='answer-label-1555660' class=' answer'><span>The manager believes that as the markets are fairly priced, it would be futile to look for mis-priced securities.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-400609'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Your client, Rinaldo, wants to know more about the fees associated with his mutual funds. <br \/>\r<br>What can you tell him about a mutual fund\u2019s management expense ratio (MER)?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='400609' \/><input type='hidden' id='answerType400609' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400609[]' id='answer-id-1555661' class='answer   answerof-400609 ' value='1555661'   \/><label for='answer-id-1555661' id='answer-label-1555661' class=' answer'><span>Mutual funds are required to calculate the MER on a daily basis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400609[]' id='answer-id-1555662' class='answer   answerof-400609 ' value='1555662'   \/><label for='answer-id-1555662' id='answer-label-1555662' class=' answer'><span>Trailer and brokerage fees are charged separately from the ME<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400609[]' id='answer-id-1555663' class='answer   answerof-400609 ' value='1555663'   \/><label for='answer-id-1555663' id='answer-label-1555663' class=' answer'><span>The MER reflects the percentage of each dollar of fund assets that is used to pay for management services.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400609[]' id='answer-id-1555664' class='answer   answerof-400609 ' value='1555664'   \/><label for='answer-id-1555664' id='answer-label-1555664' class=' answer'><span>Mutual fund performance is not impacted by the MER since rates of return are published net of fees.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-400610'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Sujay contributes 3% of his $60,000 salary to his employer\u2019s defined contribution pension plan. His employer contributes the same amount to the plan. <br \/>\r<br>How will this affect his registered retirement savings plan (RRSP) contribution room for the year?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='400610' \/><input type='hidden' id='answerType400610' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400610[]' id='answer-id-1555665' class='answer   answerof-400610 ' value='1555665'   \/><label for='answer-id-1555665' id='answer-label-1555665' class=' answer'><span>It will have no effect. RRSP contribution room is based on earned income only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400610[]' id='answer-id-1555666' class='answer   answerof-400610 ' value='1555666'   \/><label for='answer-id-1555666' id='answer-label-1555666' class=' answer'><span>It will reduce Suiay's contribution room by 51,800.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400610[]' id='answer-id-1555667' class='answer   answerof-400610 ' value='1555667'   \/><label for='answer-id-1555667' id='answer-label-1555667' class=' answer'><span>It will reduce Suiay's contribution room by $1800<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400610[]' id='answer-id-1555668' class='answer   answerof-400610 ' value='1555668'   \/><label for='answer-id-1555668' id='answer-label-1555668' class=' answer'><span>It will reduce Suiay's contribution room by $3,600.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-400611'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Exchange traded funds (ETFs) that track an index and index mutual funds have many similarities. <br \/>\r<br>However, what is a major difference between these two products?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='400611' \/><input type='hidden' id='answerType400611' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400611[]' id='answer-id-1555669' class='answer   answerof-400611 ' value='1555669'   \/><label for='answer-id-1555669' id='answer-label-1555669' class=' answer'><span>While ETFs are prone to tracking errors, index funds are perfectly aligned with their underlying index.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400611[]' id='answer-id-1555670' class='answer   answerof-400611 ' value='1555670'   \/><label for='answer-id-1555670' id='answer-label-1555670' class=' answer'><span>ETFs can be purchased continuously throughout the trading day while index funds can only be bought or sold at the end of the day.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400611[]' id='answer-id-1555671' class='answer   answerof-400611 ' value='1555671'   \/><label for='answer-id-1555671' id='answer-label-1555671' class=' answer'><span>The market price of ETFs always matches the underlying basket of securities while there can be a discrepancy in pricing index funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400611[]' id='answer-id-1555672' class='answer   answerof-400611 ' value='1555672'   \/><label for='answer-id-1555672' id='answer-label-1555672' class=' answer'><span>ETFs do not have management fees since they are exchange traded while index funds do incur such fees.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-400612'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Darryl has a diversified investment portfolio of mutual funds in a non-registered account with Investwell Mutual Funds, a mutual fund dealer. Darryl\u2019s diversified portfolio is composed of 3 mutual funds. Each mutual fund is currently worth about $100,000. The ABC Canadian Equity Fund has a total return of 6%, the DEF Bond Fund has a total return of 8% and GHI Global Equity Fund has a total return of 10%. Darryl wants to make an in-kind contribution to his registered retirement savings plan (RRSP) account. He has unused RRSP contribution room of $60,000. <br \/>\r<br>From a tax-efficient viewpoint, which funds contribute in-kind to his RRSP account?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='400612' \/><input type='hidden' id='answerType400612' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400612[]' id='answer-id-1555673' class='answer   answerof-400612 ' value='1555673'   \/><label for='answer-id-1555673' id='answer-label-1555673' class=' answer'><span>Move the DEF Bond Fund to the RRS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400612[]' id='answer-id-1555674' class='answer   answerof-400612 ' value='1555674'   \/><label for='answer-id-1555674' id='answer-label-1555674' class=' answer'><span>Move the GHI Global Equity Fund to the RRSP<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400612[]' id='answer-id-1555675' class='answer   answerof-400612 ' value='1555675'   \/><label for='answer-id-1555675' id='answer-label-1555675' class=' answer'><span>Move $20,000 from each of the three funds to the RRS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400612[]' id='answer-id-1555676' class='answer   answerof-400612 ' value='1555676'   \/><label for='answer-id-1555676' id='answer-label-1555676' class=' answer'><span>Move the ABC Canadian Equity Fund to the RRS<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-400613'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Danica is looking for a mutual fund to hold in her non-registered account that provides a regular stream of income with potential for capital growth. She is having difficulty distinguishing between bond funds and dividend funds. <br \/>\r<br>Which of the following statements is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='400613' \/><input type='hidden' id='answerType400613' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400613[]' id='answer-id-1555677' class='answer   answerof-400613 ' value='1555677'   \/><label for='answer-id-1555677' id='answer-label-1555677' class=' answer'><span>The return of dividend funds relies only on interest rates; whereas with bond funds, the return also depends on the general direction of stock markets.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400613[]' id='answer-id-1555678' class='answer   answerof-400613 ' value='1555678'   \/><label for='answer-id-1555678' id='answer-label-1555678' class=' answer'><span>When interest rates rise, the net asset value per unit (NAVPU) of bond funds decreases; whereas with dividend funds it rises.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400613[]' id='answer-id-1555679' class='answer   answerof-400613 ' value='1555679'   \/><label for='answer-id-1555679' id='answer-label-1555679' class=' answer'><span>Bond funds receive fixed interest payments from most of their investments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400613[]' id='answer-id-1555680' class='answer   answerof-400613 ' value='1555680'   \/><label for='answer-id-1555680' id='answer-label-1555680' class=' answer'><span>Bond fund distributions receive more favorable tax treatment than that of dividend funds.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-400614'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Which of the following statements is true when comparing fund of funds to traditional mutual funds?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='400614' \/><input type='hidden' id='answerType400614' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400614[]' id='answer-id-1555681' class='answer   answerof-400614 ' value='1555681'   \/><label for='answer-id-1555681' id='answer-label-1555681' class=' answer'><span>Fund of funds have higher fees than traditional mutual funds since there are two sets of management fees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400614[]' id='answer-id-1555682' class='answer   answerof-400614 ' value='1555682'   \/><label for='answer-id-1555682' id='answer-label-1555682' class=' answer'><span>Fund of funds have more asset class options available and lower fees than traditional mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400614[]' id='answer-id-1555683' class='answer   answerof-400614 ' value='1555683'   \/><label for='answer-id-1555683' id='answer-label-1555683' class=' answer'><span>Since fund of funds invest primarily outside Canada, they will have higher fees than traditional mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400614[]' id='answer-id-1555684' class='answer   answerof-400614 ' value='1555684'   \/><label for='answer-id-1555684' id='answer-label-1555684' class=' answer'><span>Fund of funds have more fee structure options available and lower fees than traditional mutual funds.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-400615'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>At the close of business, Great Lengths Equity Fund had total assets of $135 million and total liabilities of $10 million. They had 11 million units outstanding. In addition, their current assets total led $13 million and current liabilities were $3 million. <br \/>\r<br>Which of the following statements regarding Great Lengths Equity Fund\u2019s net asset value per unit (NAVPU) is correct?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='400615' \/><input type='hidden' id='answerType400615' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400615[]' id='answer-id-1555685' class='answer   answerof-400615 ' value='1555685'   \/><label for='answer-id-1555685' id='answer-label-1555685' class=' answer'><span>The NAVPU is the total liabilities divided by the number of outstanding units.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400615[]' id='answer-id-1555686' class='answer   answerof-400615 ' value='1555686'   \/><label for='answer-id-1555686' id='answer-label-1555686' class=' answer'><span>Current assets and current liabilities are used in the NAVPU calculation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400615[]' id='answer-id-1555687' class='answer   answerof-400615 ' value='1555687'   \/><label for='answer-id-1555687' id='answer-label-1555687' class=' answer'><span>There is not enough information available to calculate the NAVP<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400615[]' id='answer-id-1555688' class='answer   answerof-400615 ' value='1555688'   \/><label for='answer-id-1555688' id='answer-label-1555688' class=' answer'><span>Great Lengths Equity Fund's NAVPU is $11.36.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-400616'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Sandra presently participates in her employer-sponsored defined contribution pension plan (DCPP). <br \/>\r<br>As contributions continue to be made into her plan, what can she expect?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='400616' \/><input type='hidden' id='answerType400616' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400616[]' id='answer-id-1555689' class='answer   answerof-400616 ' value='1555689'   \/><label for='answer-id-1555689' id='answer-label-1555689' class=' answer'><span>Retirement benefits will be based on a prescribed formula that can be referenced from the plan's terms and conditions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400616[]' id='answer-id-1555690' class='answer   answerof-400616 ' value='1555690'   \/><label for='answer-id-1555690' id='answer-label-1555690' class=' answer'><span>The employer will solely make contributions to her DCPP based on a prescribed formula noted within her plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400616[]' id='answer-id-1555691' class='answer   answerof-400616 ' value='1555691'   \/><label for='answer-id-1555691' id='answer-label-1555691' class=' answer'><span>Her available registered retirement savings plan (RRSP) contribution room will be reduced by what is being contributed to her plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400616[]' id='answer-id-1555692' class='answer   answerof-400616 ' value='1555692'   \/><label for='answer-id-1555692' id='answer-label-1555692' class=' answer'><span>To ensure she has savings at retirement, the employer will choose stable investments to grow her retirement savings.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-400617'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Which of the following statements best describes dollar-cost averaging?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='400617' \/><input type='hidden' id='answerType400617' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400617[]' id='answer-id-1555693' class='answer   answerof-400617 ' value='1555693'   \/><label for='answer-id-1555693' id='answer-label-1555693' class=' answer'><span>It is a type of systematic withdrawal program.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400617[]' id='answer-id-1555694' class='answer   answerof-400617 ' value='1555694'   \/><label for='answer-id-1555694' id='answer-label-1555694' class=' answer'><span>It is buying a set dollar amount of a mutual fund on a regular basis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400617[]' id='answer-id-1555695' class='answer   answerof-400617 ' value='1555695'   \/><label for='answer-id-1555695' id='answer-label-1555695' class=' answer'><span>It is the strategy of purchasing a set number of units of a mutual fund on a regular basis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400617[]' id='answer-id-1555696' class='answer   answerof-400617 ' value='1555696'   \/><label for='answer-id-1555696' id='answer-label-1555696' class=' answer'><span>It is making lump-sum purchases when the market price for a mutual fund is low.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-400618'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Which statement regarding the underwriting process and over-the-counter (OTC) markets is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='400618' \/><input type='hidden' id='answerType400618' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400618[]' id='answer-id-1555697' class='answer   answerof-400618 ' value='1555697'   \/><label for='answer-id-1555697' id='answer-label-1555697' class=' answer'><span>Corporations must have their shares listed both on an exchange and the OTC market during the underwriting process.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400618[]' id='answer-id-1555698' class='answer   answerof-400618 ' value='1555698'   \/><label for='answer-id-1555698' id='answer-label-1555698' class=' answer'><span>During the underwriting process investment bankers raise investment capital from investors on behalf of corporations and governments issuing securities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400618[]' id='answer-id-1555699' class='answer   answerof-400618 ' value='1555699'   \/><label for='answer-id-1555699' id='answer-label-1555699' class=' answer'><span>Many new stock issues that are underwritten by securities firms are first listed on a stock exchange before they are sold over-the-counter.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400618[]' id='answer-id-1555700' class='answer   answerof-400618 ' value='1555700'   \/><label for='answer-id-1555700' id='answer-label-1555700' class=' answer'><span>The disclosure standards for stock exchanges are not as stringent as those imposed by the OTC market.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-400619'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>Maureen is 65 years old and will be retiring soon. She has a modest portfolio of mutual funds that focus on growth. As she approaches retirement, Maureen wants to switch to investments that provide steady income with low to medium risk. <br \/>\r<br>Given Maureen\u2019s wishes, which of the following mutual funds would be suitable for her?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='400619' \/><input type='hidden' id='answerType400619' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400619[]' id='answer-id-1555701' class='answer   answerof-400619 ' value='1555701'   \/><label for='answer-id-1555701' id='answer-label-1555701' class=' answer'><span>money market funds, mortgage funds, bond funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400619[]' id='answer-id-1555702' class='answer   answerof-400619 ' value='1555702'   \/><label for='answer-id-1555702' id='answer-label-1555702' class=' answer'><span>money market funds. Canadian dividend funds, sector funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400619[]' id='answer-id-1555703' class='answer   answerof-400619 ' value='1555703'   \/><label for='answer-id-1555703' id='answer-label-1555703' class=' answer'><span>Canadian dividend funds, global equity index funds, bond funds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400619[]' id='answer-id-1555704' class='answer   answerof-400619 ' value='1555704'   \/><label for='answer-id-1555704' id='answer-label-1555704' class=' answer'><span>money market funds, global equity funds, bond funds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-400620'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Which of the following statements about your mutual fund registration is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='400620' \/><input type='hidden' id='answerType400620' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400620[]' id='answer-id-1555705' class='answer   answerof-400620 ' value='1555705'   \/><label for='answer-id-1555705' id='answer-label-1555705' class=' answer'><span>You can sell mutual funds anywhere in Canada as long as you are registered with one of the provincial or territorial securities commissions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400620[]' id='answer-id-1555706' class='answer   answerof-400620 ' value='1555706'   \/><label for='answer-id-1555706' id='answer-label-1555706' class=' answer'><span>Your online application must be reviewed and approved by your mutual fund dealer before you can begin to sell mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400620[]' id='answer-id-1555707' class='answer   answerof-400620 ' value='1555707'   \/><label for='answer-id-1555707' id='answer-label-1555707' class=' answer'><span>You must renew your registration through the online NRD system every two years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400620[]' id='answer-id-1555708' class='answer   answerof-400620 ' value='1555708'   \/><label for='answer-id-1555708' id='answer-label-1555708' class=' answer'><span>You must inform the regulatory authorities of any material or significant changes to your personal circumstances.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-400621'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>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. <br \/>\r<br>What would you tell Greg about open-end funds?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='400621' \/><input type='hidden' id='answerType400621' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400621[]' id='answer-id-1555709' class='answer   answerof-400621 ' value='1555709'   \/><label for='answer-id-1555709' id='answer-label-1555709' class=' answer'><span>The number of units is not fixed, and varies with investor demand and redemption orders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400621[]' id='answer-id-1555710' class='answer   answerof-400621 ' value='1555710'   \/><label for='answer-id-1555710' id='answer-label-1555710' class=' answer'><span>Investors holding open-end funds can buy and sell their mutual funds anytime the stock market is open.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400621[]' id='answer-id-1555711' class='answer   answerof-400621 ' value='1555711'   \/><label for='answer-id-1555711' id='answer-label-1555711' class=' answer'><span>Units are bought and sold amongst the unitholders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400621[]' id='answer-id-1555712' class='answer   answerof-400621 ' value='1555712'   \/><label for='answer-id-1555712' id='answer-label-1555712' class=' answer'><span>Initial shares in the mutual fund are allotted through an initial public offering (IPO)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-400622'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Pierre buys a call option on a stock. <br \/>\r<br>What is the implication of this transaction?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='400622' \/><input type='hidden' id='answerType400622' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400622[]' id='answer-id-1555713' class='answer   answerof-400622 ' value='1555713'   \/><label for='answer-id-1555713' id='answer-label-1555713' class=' answer'><span>Pierre has the right to buy the stock if he exercises the option.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400622[]' id='answer-id-1555714' class='answer   answerof-400622 ' value='1555714'   \/><label for='answer-id-1555714' id='answer-label-1555714' class=' answer'><span>Pierre is obligated to sell the stock if the option is exercised.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400622[]' id='answer-id-1555715' class='answer   answerof-400622 ' value='1555715'   \/><label for='answer-id-1555715' id='answer-label-1555715' class=' answer'><span>Pierre has the right to sell the stock if he exercises the option.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400622[]' id='answer-id-1555716' class='answer   answerof-400622 ' value='1555716'   \/><label for='answer-id-1555716' id='answer-label-1555716' class=' answer'><span>Pierre is obligated to buy the stock if the option is exercised.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-400623'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Your clients, Philip and Helen, have a disabled son, Alex, age 22. They want to set up a registered disability savings plan (RDSP) for Alex and have asked you for some information. <br \/>\r<br>Which statement is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='400623' \/><input type='hidden' id='answerType400623' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400623[]' id='answer-id-1555717' class='answer   answerof-400623 ' value='1555717'   \/><label for='answer-id-1555717' id='answer-label-1555717' class=' answer'><span>Philip and Helen's contributions are refundable to them.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400623[]' id='answer-id-1555718' class='answer   answerof-400623 ' value='1555718'   \/><label for='answer-id-1555718' id='answer-label-1555718' class=' answer'><span>There is no annual or lifetime maximum limit on contributions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400623[]' id='answer-id-1555719' class='answer   answerof-400623 ' value='1555719'   \/><label for='answer-id-1555719' id='answer-label-1555719' class=' answer'><span>Alex must quality for the disability tax credit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400623[]' id='answer-id-1555720' class='answer   answerof-400623 ' value='1555720'   \/><label for='answer-id-1555720' id='answer-label-1555720' class=' answer'><span>Philip and Helen's contributions are tax-deductible.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-400624'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Karen\u2019s 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. <br \/>\r<br>What kind of mutual fund would be BEST for her?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='400624' \/><input type='hidden' id='answerType400624' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400624[]' id='answer-id-1555721' class='answer   answerof-400624 ' value='1555721'   \/><label for='answer-id-1555721' id='answer-label-1555721' class=' answer'><span>Canadian small capitalization equity fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400624[]' id='answer-id-1555722' class='answer   answerof-400624 ' value='1555722'   \/><label for='answer-id-1555722' id='answer-label-1555722' class=' answer'><span>Canadian equity index fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400624[]' id='answer-id-1555723' class='answer   answerof-400624 ' value='1555723'   \/><label for='answer-id-1555723' id='answer-label-1555723' class=' answer'><span>Canadian dividend fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400624[]' id='answer-id-1555724' class='answer   answerof-400624 ' value='1555724'   \/><label for='answer-id-1555724' id='answer-label-1555724' class=' answer'><span>Canadian bond fund<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-400625'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='400625' \/><input type='hidden' id='answerType400625' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400625[]' id='answer-id-1555725' class='answer   answerof-400625 ' value='1555725'   \/><label for='answer-id-1555725' id='answer-label-1555725' class=' answer'><span>Usually the market price of an ETF is the net asset value per unit (NAVPU) of the Fund on that day.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400625[]' id='answer-id-1555726' class='answer   answerof-400625 ' value='1555726'   \/><label for='answer-id-1555726' id='answer-label-1555726' class=' answer'><span>Investors may sell their ETFs in the stock market or redeem them through the Fund at the NAVPU of the day.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400625[]' id='answer-id-1555727' class='answer   answerof-400625 ' value='1555727'   \/><label for='answer-id-1555727' id='answer-label-1555727' class=' answer'><span>ETFs have lower MERs compared to mutual funds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400625[]' id='answer-id-1555728' class='answer   answerof-400625 ' value='1555728'   \/><label for='answer-id-1555728' id='answer-label-1555728' class=' answer'><span>All ETFs are actively managed.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-400626'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Eleanora receives a $500 eligible Canadian dividend from her mutual fund. Her federal marginal tax rate for the year is 29%. <br \/>\r<br>Assuming the enhanced gross-up of 38% and a federal dividend tax credit of 15.02%, how much federal tax will she pay on her dividend?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='400626' \/><input type='hidden' id='answerType400626' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400626[]' id='answer-id-1555729' class='answer   answerof-400626 ' value='1555729'   \/><label for='answer-id-1555729' id='answer-label-1555729' class=' answer'><span>$69.90<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400626[]' id='answer-id-1555730' class='answer   answerof-400626 ' value='1555730'   \/><label for='answer-id-1555730' id='answer-label-1555730' class=' answer'><span>$189.16<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400626[]' id='answer-id-1555731' class='answer   answerof-400626 ' value='1555731'   \/><label for='answer-id-1555731' id='answer-label-1555731' class=' answer'><span>$96.46<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400626[]' id='answer-id-1555732' class='answer   answerof-400626 ' value='1555732'   \/><label for='answer-id-1555732' id='answer-label-1555732' class=' answer'><span>$115.40<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-41'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons10084\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; 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   \t \n<\/script>\n<p>&nbsp;<\/p>\n<h3>Continue to check the <a href=\"https:\/\/www.dumpsbase.com\/freedumps\/cifc-free-dumps-part-2-q41-q90-are-also-available-to-help-you-check-the-cifc-dumps-v9-02-trusted-path-to-success.html\"><span style=\"background-color: #00ffff;\"><em>CIFC free dumps (Part 2, Q41-Q90) of V9.02<\/em><\/span><\/a> here.<\/h3>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can efficiently prepare for the Canadian Investment Funds Course (CIFC) exam with updated CIFC dumps (V9.02) of DumpsBase. Our updated dumps come with 224 practice exam questions and answers, which are specifically designed to reflect the real exam format and objectives, helping you focus on what matters most. 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