{"id":110330,"date":"2025-09-16T08:37:00","date_gmt":"2025-09-16T08:37:00","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=110330"},"modified":"2025-09-16T08:37:00","modified_gmt":"2025-09-16T08:37:00","slug":"cifc-free-dumps-part-2-q41-q90-are-also-available-to-help-you-check-the-cifc-dumps-v9-02-trusted-path-to-success","status":"publish","type":"post","link":"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","title":{"rendered":"CIFC Free Dumps (Part 2, Q41-Q90) Are Also Available to Help You Check the CIFC Dumps (V9.02): Trusted Path to Success"},"content":{"rendered":"<p>Preparing for the Canadian Investment Funds Course (CIFC) certification exam requires both accuracy and trust, and that\u2019s where the CIFC dumps (V9.02) from DumpsBase become the perfect solution. DumpsBase provides carefully designed exam questions that follow the latest exam requirements, ensuring you always prepare with reliable and updated content. You can read our <a href=\"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\"><em><strong>CIFC free dumps (Part 1, Q1-Q40)<\/strong><\/em><\/a> first to check the questions. By reading these demo questions, you can find that this smart material helps you build confidence, sharpen your skills, and approach exam day with a clear mindset. DumpsBase gives you the advantage of reliable CIFC dumps that are accurate, updated, and easy to follow. With DumpsBase, you do not waste your energy on outdated or confusing sources; instead, you focus only on what really matters for success. Focus on us, the CIFC free dumps (Part 2, Q41-Q90) are also available to help you check the quality.<\/p>\n<h2>Continue to check our <span style=\"background-color: #ffff99;\"><em>CIFC free dumps (Part 2, Q41-Q90) of V9.02<\/em><\/span> here:<\/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=\"submittingExam10085\" 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-10085\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-10085\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-400627'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Patrick is a portfolio manager for the HyperTally Growth Fund. It has generated an annualized rate of return of 10% this past year. However, with the anticipation of very high inflation to soon occur, there is also an expectation of higher interest rates. Patrick is concerned about the future returns of existing stocks within the fund. <br \/>\r<br>What may Patrick do to protect against the market value of the fund dropping?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='400627' \/><input type='hidden' id='answerType400627' 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-400627[]' id='answer-id-1555733' class='answer   answerof-400627 ' value='1555733'   \/><label for='answer-id-1555733' id='answer-label-1555733' class=' answer'><span>Agree to buy forward contracts where he is in the &quot;long' position.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400627[]' id='answer-id-1555734' class='answer   answerof-400627 ' value='1555734'   \/><label for='answer-id-1555734' id='answer-label-1555734' class=' answer'><span>Buy call options for the existing stocks stored within the fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400627[]' id='answer-id-1555735' class='answer   answerof-400627 ' value='1555735'   \/><label for='answer-id-1555735' id='answer-label-1555735' class=' answer'><span>Avoid the use of derivatives because they are speculative in nature.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400627[]' id='answer-id-1555736' class='answer   answerof-400627 ' value='1555736'   \/><label for='answer-id-1555736' id='answer-label-1555736' class=' answer'><span>Purchase put options for the fund's existing assets.<\/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-400628'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>What type of shares offer its shareholders the opportunity to receive additional dividends if the company\u2019s profit exceeds a stated level?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='400628' \/><input type='hidden' id='answerType400628' 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-400628[]' id='answer-id-1555737' class='answer   answerof-400628 ' value='1555737'   \/><label for='answer-id-1555737' id='answer-label-1555737' class=' answer'><span>Redeemable preferred shares<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400628[]' id='answer-id-1555738' class='answer   answerof-400628 ' value='1555738'   \/><label for='answer-id-1555738' id='answer-label-1555738' class=' answer'><span>Cumulative preferred shares<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400628[]' id='answer-id-1555739' class='answer   answerof-400628 ' value='1555739'   \/><label for='answer-id-1555739' id='answer-label-1555739' class=' answer'><span>Convertible preferred shares<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400628[]' id='answer-id-1555740' class='answer   answerof-400628 ' value='1555740'   \/><label for='answer-id-1555740' id='answer-label-1555740' class=' answer'><span>Participating preferred shares<\/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-400629'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>On January 2nd of this year Evan purchased 500 preferred shares of Ingram Ltd. The preferred shares have a par value of $25 per share and a quarterly dividend of $0.98 per share. They also give Evan the option to sell the shares back to Ingram at par value any time from now until September 1st two years from now. <br \/>\r<br>What type of preferred shares does Evan own?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='400629' \/><input type='hidden' id='answerType400629' 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-400629[]' id='answer-id-1555741' class='answer   answerof-400629 ' value='1555741'   \/><label for='answer-id-1555741' id='answer-label-1555741' class=' answer'><span>retractable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400629[]' id='answer-id-1555742' class='answer   answerof-400629 ' value='1555742'   \/><label for='answer-id-1555742' id='answer-label-1555742' class=' answer'><span>convertible<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400629[]' id='answer-id-1555743' class='answer   answerof-400629 ' value='1555743'   \/><label for='answer-id-1555743' id='answer-label-1555743' class=' answer'><span>participating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400629[]' id='answer-id-1555744' class='answer   answerof-400629 ' value='1555744'   \/><label for='answer-id-1555744' id='answer-label-1555744' class=' answer'><span>redeemable<\/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-400630'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Every February, Reginald, a Dealing Representative, feels pressured by his Manager to generate new registered retirement savings plans (RRSP) and contributions to assist the branch in meeting broader business targets. Reginald is nearing the end of February, and he has a meeting with a new client, Orel. Orel wants to open a tax-free savings account (TFSA) to develop emergency savings because he does not want to worry about his withdrawals being taxed. Reginald suggests that if Orel were to contribute to an RRSP first, then the resulting tax savings could be used to fund a new emergency account. <br \/>\r<br>In relation to account suitability, what can be said about Reginald\u2019s advice?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='400630' \/><input type='hidden' id='answerType400630' 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-400630[]' id='answer-id-1555745' class='answer   answerof-400630 ' value='1555745'   \/><label for='answer-id-1555745' id='answer-label-1555745' class=' answer'><span>Recommending an investment solution that addresses two needs is putting Reginald's client's interest first<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400630[]' id='answer-id-1555746' class='answer   answerof-400630 ' value='1555746'   \/><label for='answer-id-1555746' id='answer-label-1555746' class=' answer'><span>Based on Orel's stated need, recommending an RRSP contribution is unsuitable.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400630[]' id='answer-id-1555747' class='answer   answerof-400630 ' value='1555747'   \/><label for='answer-id-1555747' id='answer-label-1555747' class=' answer'><span>Reginald is putting the client's interest first by informing Orel why he should change his purpose for investing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400630[]' id='answer-id-1555748' class='answer   answerof-400630 ' value='1555748'   \/><label for='answer-id-1555748' id='answer-label-1555748' class=' answer'><span>By convincing Orel to contribute an RRSP, instead of a TFSA, Reginald has put his client's interest first.<\/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-400631'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>As a measurement of risk, which of the following statements about beta is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='400631' \/><input type='hidden' id='answerType400631' 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-400631[]' id='answer-id-1555749' class='answer   answerof-400631 ' value='1555749'   \/><label for='answer-id-1555749' id='answer-label-1555749' class=' answer'><span>A larger beta for a stock means it will outperform the market at any point in the business cycle.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400631[]' id='answer-id-1555750' class='answer   answerof-400631 ' value='1555750'   \/><label for='answer-id-1555750' id='answer-label-1555750' class=' answer'><span>It is a relative measure that compares how an investment reacts to movements in a specific index.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400631[]' id='answer-id-1555751' class='answer   answerof-400631 ' value='1555751'   \/><label for='answer-id-1555751' id='answer-label-1555751' class=' answer'><span>It is a ratio that compares a company's current rate of return to its average rate of return overtime.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400631[]' id='answer-id-1555752' class='answer   answerof-400631 ' value='1555752'   \/><label for='answer-id-1555752' id='answer-label-1555752' class=' answer'><span>It corresponds to a stock's riskiness in relation to the frequency of dividend payments over a certain period of time.<\/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-400632'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Jasmine purchases a 1-year, $10,000 face value strip bond for $9,600. <br \/>\r<br>At maturity, when Jasmine receives $10,000, which of the following statements is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='400632' \/><input type='hidden' id='answerType400632' 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-400632[]' id='answer-id-1555753' class='answer   answerof-400632 ' value='1555753'   \/><label for='answer-id-1555753' id='answer-label-1555753' class=' answer'><span>Jasmine realizes a capital dividend of S400.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400632[]' id='answer-id-1555754' class='answer   answerof-400632 ' value='1555754'   \/><label for='answer-id-1555754' id='answer-label-1555754' class=' answer'><span>Jasmine realizes a taxable dividend of $400.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400632[]' id='answer-id-1555755' class='answer   answerof-400632 ' value='1555755'   \/><label for='answer-id-1555755' id='answer-label-1555755' class=' answer'><span>Jasmine realizes a taxable capital gain of $400.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400632[]' id='answer-id-1555756' class='answer   answerof-400632 ' value='1555756'   \/><label for='answer-id-1555756' id='answer-label-1555756' class=' answer'><span>Jasmine realizes interest income of $400.<\/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-400633'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Hamid, the portfolio manager of the Trabant Canadian Equity Fund is deciding on some new investments. He has identified a retirement residence company as well as a discount clothing retailer that both seem to have good prospects and appear undervalued. <br \/>\r<br>What investment approach is Hamid using?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='400633' \/><input type='hidden' id='answerType400633' 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-400633[]' id='answer-id-1555757' class='answer   answerof-400633 ' value='1555757'   \/><label for='answer-id-1555757' id='answer-label-1555757' class=' answer'><span>top-down<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400633[]' id='answer-id-1555758' class='answer   answerof-400633 ' value='1555758'   \/><label for='answer-id-1555758' id='answer-label-1555758' class=' answer'><span>bottom-up<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400633[]' id='answer-id-1555759' class='answer   answerof-400633 ' value='1555759'   \/><label for='answer-id-1555759' id='answer-label-1555759' class=' answer'><span>growth at a reasonable price<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400633[]' id='answer-id-1555760' class='answer   answerof-400633 ' value='1555760'   \/><label for='answer-id-1555760' id='answer-label-1555760' class=' answer'><span>technical investing<\/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-400634'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Jabir begins the registration process with his new dealer Prosper Wealth Inc. Jabir is excited about his new career and eager to start calling clients, opening new accounts, and selling investments. <br \/>\r<br>Which of the following CORRECTLY describes when Jabir will be eligible to open new client accounts and sell investments?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='400634' \/><input type='hidden' id='answerType400634' 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-400634[]' id='answer-id-1555761' class='answer   answerof-400634 ' value='1555761'   \/><label for='answer-id-1555761' id='answer-label-1555761' class=' answer'><span>Upon employment with the dealer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400634[]' id='answer-id-1555762' class='answer   answerof-400634 ' value='1555762'   \/><label for='answer-id-1555762' id='answer-label-1555762' class=' answer'><span>Upon registration application by the dealer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400634[]' id='answer-id-1555763' class='answer   answerof-400634 ' value='1555763'   \/><label for='answer-id-1555763' id='answer-label-1555763' class=' answer'><span>Upon passing the proficiency course<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400634[]' id='answer-id-1555764' class='answer   answerof-400634 ' value='1555764'   \/><label for='answer-id-1555764' id='answer-label-1555764' class=' answer'><span>Upon formal confirmation from the regulator<\/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-400635'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which statement about unused registered retirement savings plan (RRSP) contribution room is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='400635' \/><input type='hidden' id='answerType400635' 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-400635[]' id='answer-id-1555765' class='answer   answerof-400635 ' value='1555765'   \/><label for='answer-id-1555765' id='answer-label-1555765' class=' answer'><span>It may not be more than the RRSP contribution limit for the year in which it is carried forward.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400635[]' id='answer-id-1555766' class='answer   answerof-400635 ' value='1555766'   \/><label for='answer-id-1555766' id='answer-label-1555766' class=' answer'><span>It can be carried forward to future years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400635[]' id='answer-id-1555767' class='answer   answerof-400635 ' value='1555767'   \/><label for='answer-id-1555767' id='answer-label-1555767' class=' answer'><span>It can be carried forward a maximum of seven years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400635[]' id='answer-id-1555768' class='answer   answerof-400635 ' value='1555768'   \/><label for='answer-id-1555768' id='answer-label-1555768' class=' answer'><span>It may not be carried forward.<\/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-400636'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>Which of the following is a characteristic of a bond fund?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='400636' \/><input type='hidden' id='answerType400636' 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-400636[]' id='answer-id-1555769' class='answer   answerof-400636 ' value='1555769'   \/><label for='answer-id-1555769' id='answer-label-1555769' class=' answer'><span>Income from a bond fund will primarily be interest but may also be capital gains<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400636[]' id='answer-id-1555770' class='answer   answerof-400636 ' value='1555770'   \/><label for='answer-id-1555770' id='answer-label-1555770' class=' answer'><span>Bond funds are very low risk because they never go down in value.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400636[]' id='answer-id-1555771' class='answer   answerof-400636 ' value='1555771'   \/><label for='answer-id-1555771' id='answer-label-1555771' class=' answer'><span>If interest rates rise the value of a bond fund will also tend to rise.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400636[]' id='answer-id-1555772' class='answer   answerof-400636 ' value='1555772'   \/><label for='answer-id-1555772' id='answer-label-1555772' class=' answer'><span>Securities regulation specifies that bond funds must invest in investment grade bonds.<\/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-400637'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='400637' \/><input type='hidden' id='answerType400637' 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-400637[]' id='answer-id-1555773' class='answer   answerof-400637 ' value='1555773'   \/><label for='answer-id-1555773' id='answer-label-1555773' class=' answer'><span>the chief executive officer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400637[]' id='answer-id-1555774' class='answer   answerof-400637 ' value='1555774'   \/><label for='answer-id-1555774' id='answer-label-1555774' class=' answer'><span>the ultimate designated person<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400637[]' id='answer-id-1555775' class='answer   answerof-400637 ' value='1555775'   \/><label for='answer-id-1555775' id='answer-label-1555775' class=' answer'><span>the trustee<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400637[]' id='answer-id-1555776' class='answer   answerof-400637 ' value='1555776'   \/><label for='answer-id-1555776' id='answer-label-1555776' class=' answer'><span>the chief compliance officer<\/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-400638'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>Bernadette has a high-paying job and is in the top tax bracket. She recently received a payment of $5 million upon the settlement of her uncle\u2019s estate. Bernadette would like to invest her inheritance in financial products that would not only grow her money but is also income tax friendly. <br \/>\r<br>Which of the following would provide the most favourable tax treatment?<\/div><input type='hidden' name='question_id[]' id='qID_12' value='400638' \/><input type='hidden' id='answerType400638' 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-400638[]' id='answer-id-1555777' class='answer   answerof-400638 ' value='1555777'   \/><label for='answer-id-1555777' id='answer-label-1555777' class=' answer'><span>Dividends received from a large foreign corporation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400638[]' id='answer-id-1555778' class='answer   answerof-400638 ' value='1555778'   \/><label for='answer-id-1555778' id='answer-label-1555778' class=' answer'><span>Coupon payments from Government of Canada bonds.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400638[]' id='answer-id-1555779' class='answer   answerof-400638 ' value='1555779'   \/><label for='answer-id-1555779' id='answer-label-1555779' class=' answer'><span>Capital gains from a large Canadian corporation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400638[]' id='answer-id-1555780' class='answer   answerof-400638 ' value='1555780'   \/><label for='answer-id-1555780' id='answer-label-1555780' class=' answer'><span>Eligible dividends from a publicly-listed Canadian corporation<\/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-400639'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Pacari is a Dealing Representative with Cavalry Investments, a mutual fund dealer. Pacari\u2019s client, Darsha, is a long-time customer and an elderly widow. Darsha depended on her husband, for financial decisions before he passed. Pacari has also noticed that Darsha\u2019s capacity seems to be declining over the years. Luckily, with Pacari\u2019s help, Darsha has been managing her finances well. However, Darsha\u2019s daughter has been getting involved recently and has even tried to enter trades without Darsha\u2019s authorization. Pacari is particularly concerned about the last transaction for Darsha\u2019s account: a very large redemption. Pacari fears that Darsha has become a victim of financial exploitation and he raises his concerns with his dealer Cavalry. <br \/>\r<br>Which of the following statements about how Cavalry may proceed is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='400639' \/><input type='hidden' id='answerType400639' 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-400639[]' id='answer-id-1555781' class='answer   answerof-400639 ' value='1555781'   \/><label for='answer-id-1555781' id='answer-label-1555781' class=' answer'><span>Cavalry can place a permanent hold on Darsha's account and disallow all future transactions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400639[]' id='answer-id-1555782' class='answer   answerof-400639 ' value='1555782'   \/><label for='answer-id-1555782' id='answer-label-1555782' class=' answer'><span>Cavalry must place a temporary hold on Darsha's account to disallow all transactions for the account.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400639[]' id='answer-id-1555783' class='answer   answerof-400639 ' value='1555783'   \/><label for='answer-id-1555783' id='answer-label-1555783' class=' answer'><span>Cavalry can place a temporary hold on Darsha's account to temporarily disallow the redemption.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400639[]' id='answer-id-1555784' class='answer   answerof-400639 ' value='1555784'   \/><label for='answer-id-1555784' id='answer-label-1555784' class=' answer'><span>Cavalry must proceed with the redemption because temporary and permanent holds are not permitted.<\/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-400640'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Natasha currently owns 2 mutual funds: a bond fund and a Canadian equity fund. She would like to use one of them as her registered retirement savings plan (RRSP) contribution for the year. <br \/>\r<br>From a tax efficiency perspective, which mutual fund should she contribute?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='400640' \/><input type='hidden' id='answerType400640' 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-400640[]' id='answer-id-1555785' class='answer   answerof-400640 ' value='1555785'   \/><label for='answer-id-1555785' id='answer-label-1555785' class=' answer'><span>the equity fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400640[]' id='answer-id-1555786' class='answer   answerof-400640 ' value='1555786'   \/><label for='answer-id-1555786' id='answer-label-1555786' class=' answer'><span>the bond fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400640[]' id='answer-id-1555787' class='answer   answerof-400640 ' value='1555787'   \/><label for='answer-id-1555787' id='answer-label-1555787' class=' answer'><span>either since it makes no difference<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400640[]' id='answer-id-1555788' class='answer   answerof-400640 ' value='1555788'   \/><label for='answer-id-1555788' id='answer-label-1555788' class=' answer'><span>it depends on her marginal tax rate<\/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-400641'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>Daisy is a Dealing Representative registered in the province of Saskatchewan only. Daisy\u2019s client, Orville, a resident of Lloydminster, Saskatchewan is a retiree who presently has a $1,000,000 with her dealer, Easy Ride Financial. Orville is now planning to move to Vegreville, Alberta next month. Easy Ride Financial is registered in Alberta and Saskatchewan. Neither Easy Ride Financial nor Daisy have any clients who are resident in Alberta. <br \/>\r<br>Which of the following should Daisy do if she wants to continue to service Orville\u2019s account?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='400641' \/><input type='hidden' id='answerType400641' 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-400641[]' id='answer-id-1555789' class='answer   answerof-400641 ' value='1555789'   \/><label for='answer-id-1555789' id='answer-label-1555789' class=' answer'><span>Request approval from the Mutual Fund Dealers Association of Canada to be eligible to be a registered Dealing Representative in Alberta<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400641[]' id='answer-id-1555790' class='answer   answerof-400641 ' value='1555790'   \/><label for='answer-id-1555790' id='answer-label-1555790' class=' answer'><span>Daisy could seek permission from her dealer to request a client mobility exemption with the Alberta Securities Commission.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400641[]' id='answer-id-1555791' class='answer   answerof-400641 ' value='1555791'   \/><label for='answer-id-1555791' id='answer-label-1555791' class=' answer'><span>Daisy will need to forfeit her registration in Saskatchewan if she wants to be registered in Alberta to keep Orville as a client.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400641[]' id='answer-id-1555792' class='answer   answerof-400641 ' value='1555792'   \/><label for='answer-id-1555792' id='answer-label-1555792' class=' answer'><span>Register with a different mutual fund dealer that is registered in Alberta so she can keep Orville as a client.<\/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-400642'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Which of the followings describes segregated funds?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='400642' \/><input type='hidden' id='answerType400642' 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-400642[]' id='answer-id-1555793' class='answer   answerof-400642 ' value='1555793'   \/><label for='answer-id-1555793' id='answer-label-1555793' class=' answer'><span>Segregated funds have high returns, high management fees, and cannot be redeemed until the maturity date of the contract.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400642[]' id='answer-id-1555794' class='answer   answerof-400642 ' value='1555794'   \/><label for='answer-id-1555794' id='answer-label-1555794' class=' answer'><span>Segregated funds flow through capital losses to investors because the investors are the owners of the underlying fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400642[]' id='answer-id-1555795' class='answer   answerof-400642 ' value='1555795'   \/><label for='answer-id-1555795' id='answer-label-1555795' class=' answer'><span>Segregated funds offer some protection of the capital invested but there is an added cost for the protection.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400642[]' id='answer-id-1555796' class='answer   answerof-400642 ' value='1555796'   \/><label for='answer-id-1555796' id='answer-label-1555796' class=' answer'><span>Segregated funds are subject to securities regulation because they are distributed by mutual fund dealing representatives.<\/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-400643'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>What purpose does it serve for non-money market mutual funds to hold money market instruments?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='400643' \/><input type='hidden' id='answerType400643' 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-400643[]' id='answer-id-1555797' class='answer   answerof-400643 ' value='1555797'   \/><label for='answer-id-1555797' id='answer-label-1555797' class=' answer'><span>Money market instruments primarily generate investment income that provides investors with preferential tax treatment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400643[]' id='answer-id-1555798' class='answer   answerof-400643 ' value='1555798'   \/><label for='answer-id-1555798' id='answer-label-1555798' class=' answer'><span>If the portfolio manager has an immediate need for cash, money market instruments are relatively easy to liquidate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400643[]' id='answer-id-1555799' class='answer   answerof-400643 ' value='1555799'   \/><label for='answer-id-1555799' id='answer-label-1555799' class=' answer'><span>They are purchased by non-money market funds to satisfy the regulatory requirement of fund diversification.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400643[]' id='answer-id-1555800' class='answer   answerof-400643 ' value='1555800'   \/><label for='answer-id-1555800' id='answer-label-1555800' class=' answer'><span>They ensure that the fair market value of a mutual fund will not drop below a minimal market value.<\/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-400644'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>One of your clients, Rakesh, had a portfolio composed of 60% ABC Equity Fund and 40% ABC Bond Fund. Since equities were performing much better than fixed income, he had increased his holdings in ABC Equity Fund to 70% and had reduced his holding in ABC Bond Fund to 30% of his portfolio. <br \/>\r<br>After benefitting the growth in his ABC Equity Fund for over 2 years, Rakesh is uncomfortable with this heavy exposure to equity funds and decides to rebalance his portfolio back to 60% of ABC Equity Fund and 40% of ABC Bond Fund. <br \/>\r<br>He instructs you to switch 10% of the portfolio from the ABC Equity Fund to the ABC Bond Fund. <br \/>\r<br>Which of the following statements is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='400644' \/><input type='hidden' id='answerType400644' 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-400644[]' id='answer-id-1555801' class='answer   answerof-400644 ' value='1555801'   \/><label for='answer-id-1555801' id='answer-label-1555801' class=' answer'><span>Rakesh will not be subjected to a switch fee if it is outlined in the prospectus.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400644[]' id='answer-id-1555802' class='answer   answerof-400644 ' value='1555802'   \/><label for='answer-id-1555802' id='answer-label-1555802' class=' answer'><span>Rakesh will not be subjected to a switch fee if his equity fund is a no-load fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400644[]' id='answer-id-1555803' class='answer   answerof-400644 ' value='1555803'   \/><label for='answer-id-1555803' id='answer-label-1555803' class=' answer'><span>Rakesh will not be subjected to a switch fee if his original units were purchased with a sales charge.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400644[]' id='answer-id-1555804' class='answer   answerof-400644 ' value='1555804'   \/><label for='answer-id-1555804' id='answer-label-1555804' class=' answer'><span>Rakesh will not be subjected to a switch fee if his equity fund is a low-load fund.<\/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-400645'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>The Mutual Fund Dealers Association of Canada (MFDA) has strict rules concerning conflicts of interest. <br \/>\r<br>Which of the following is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='400645' \/><input type='hidden' id='answerType400645' 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-400645[]' id='answer-id-1555805' class='answer   answerof-400645 ' value='1555805'   \/><label for='answer-id-1555805' id='answer-label-1555805' class=' answer'><span>Gifts and benefits may be provided to a client if your employer is aware of the benefits and has given approval.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400645[]' id='answer-id-1555806' class='answer   answerof-400645 ' value='1555806'   \/><label for='answer-id-1555806' id='answer-label-1555806' class=' answer'><span>Activities that do not relate specifically to your employer need not be reported.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400645[]' id='answer-id-1555807' class='answer   answerof-400645 ' value='1555807'   \/><label for='answer-id-1555807' id='answer-label-1555807' class=' answer'><span>Only actual conflicts must be reported to your employer. Potential conflicts need not be reported because they have not happened yet.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400645[]' id='answer-id-1555808' class='answer   answerof-400645 ' value='1555808'   \/><label for='answer-id-1555808' id='answer-label-1555808' class=' answer'><span>Borrowing money from a client will always be acceptable provided there is a written contract \r\ndetailing the nature of the agreement.<\/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-400646'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Jasmine received an inheritance from her grandmother of $10,000. She wants to invest her money wisely. She has seen in the news that a particular energy company is doing very well and has good prospects. She has also seen how volatile its share price has been in the last year. She knows the risks of the resource sector and wants to invest but is not comfortable with so much volatility. <br \/>\r<br>Which of the following mutual fund benefits would address her concern?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='400646' \/><input type='hidden' id='answerType400646' 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-400646[]' id='answer-id-1555809' class='answer   answerof-400646 ' value='1555809'   \/><label for='answer-id-1555809' id='answer-label-1555809' class=' answer'><span>convenience<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400646[]' id='answer-id-1555810' class='answer   answerof-400646 ' value='1555810'   \/><label for='answer-id-1555810' id='answer-label-1555810' class=' answer'><span>low cost<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400646[]' id='answer-id-1555811' class='answer   answerof-400646 ' value='1555811'   \/><label for='answer-id-1555811' id='answer-label-1555811' class=' answer'><span>diversification<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400646[]' id='answer-id-1555812' class='answer   answerof-400646 ' value='1555812'   \/><label for='answer-id-1555812' id='answer-label-1555812' class=' answer'><span>liquidity<\/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-400647'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Faruq is a Dealing Representative with Smart Planning Group, a mutual fund dealer. Faruq meets with his new client, Taline, and learns that she lives on a low, fixed income. <br \/>\r<br>Taline tells Faruq that she wants to maximize her investment returns as high as possible to make up the difference. Taline also indicates that she cannot afford large investment losses because her income is low. <br \/>\r<br>Which of the following CORRECTLY describes how Faruq should assess Taline\u2019s risk profile?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='400647' \/><input type='hidden' id='answerType400647' 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-400647[]' id='answer-id-1555813' class='answer   answerof-400647 ' value='1555813'   \/><label for='answer-id-1555813' id='answer-label-1555813' class=' answer'><span>Taline's risk profile should be &quot;high&quot;&quot; because she is willing to accept risk in order to maximize her investment returns.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400647[]' id='answer-id-1555814' class='answer   answerof-400647 ' value='1555814'   \/><label for='answer-id-1555814' id='answer-label-1555814' class=' answer'><span>Faruq should override the risk that Taline is able to accept because her return expectations cannot otherwise be met.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400647[]' id='answer-id-1555815' class='answer   answerof-400647 ' value='1555815'   \/><label for='answer-id-1555815' id='answer-label-1555815' class=' answer'><span>Faruq should assess Taline's risk profile based on the higher of her: (1) risk tolerance and (2) risk capacity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400647[]' id='answer-id-1555816' class='answer   answerof-400647 ' value='1555816'   \/><label for='answer-id-1555816' id='answer-label-1555816' class=' answer'><span>Taline's risk profile should be &quot;low&quot; because her risk capacity is low and she cannot afford lame investment losses.<\/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-400648'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Ellen and her only son Jeff live on the family farm with her father George. Jeff is five years old and Ellen has decided that it is time to start saving for Jeff\u2019s post-secondary education. She has called you to ask about registered education savings plans (RESPs). <br \/>\r<br>Which of the following statements is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='400648' \/><input type='hidden' id='answerType400648' 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-400648[]' id='answer-id-1555817' class='answer   answerof-400648 ' value='1555817'   \/><label for='answer-id-1555817' id='answer-label-1555817' class=' answer'><span>If Jeff qualifies for additional CES<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400648[]' id='answer-id-1555818' class='answer   answerof-400648 ' value='1555818'   \/><label for='answer-id-1555818' id='answer-label-1555818' class=' answer'><span>his CESG lifetime maximum increases to $10,000.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400648[]' id='answer-id-1555819' class='answer   answerof-400648 ' value='1555819'   \/><label for='answer-id-1555819' id='answer-label-1555819' class=' answer'><span>If Jeff decides not to pursue a post-secondary education, he can keep all the CESG but it then becomes taxable.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400648[]' id='answer-id-1555820' class='answer   answerof-400648 ' value='1555820'   \/><label for='answer-id-1555820' id='answer-label-1555820' class=' answer'><span>George may open an RESP for Jeff but it will not quality to receive Canada Savings Education Grants (CESGs).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400648[]' id='answer-id-1555821' class='answer   answerof-400648 ' value='1555821'   \/><label for='answer-id-1555821' id='answer-label-1555821' class=' answer'><span>If Ellen receives the National Child Benefit Supplement (NCBS), Jeff may be eligible for the Canada Learning Bond<\/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-400649'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is $16.70. On December 15, the mutual fund\u2019s NAVPU is $21. On December 16, the mutual fund declares a distribution of $1.25 per unit. Sean\u2019s distribution is immediately reinvested and he purchases additional units of the mutual fund. <br \/>\r<br>Which of the following statements about the effect of the distribution is correct?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='400649' \/><input type='hidden' id='answerType400649' 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-400649[]' id='answer-id-1555822' class='answer   answerof-400649 ' value='1555822'   \/><label for='answer-id-1555822' id='answer-label-1555822' class=' answer'><span>After the distribution. Sean will have J&amp;625 in cash and JB8.350 worth of the Penn Canadian Equity Fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400649[]' id='answer-id-1555823' class='answer   answerof-400649 ' value='1555823'   \/><label for='answer-id-1555823' id='answer-label-1555823' class=' answer'><span>The total value of Sean's mutual fund holdings after the distribution and reinvestment is \u00a79,875.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400649[]' id='answer-id-1555824' class='answer   answerof-400649 ' value='1555824'   \/><label for='answer-id-1555824' id='answer-label-1555824' class=' answer'><span>The NAVPU of the mutual fund does not change after the distribution since Sean reinvests his distribution and purchases additional units.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400649[]' id='answer-id-1555825' class='answer   answerof-400649 ' value='1555825'   \/><label for='answer-id-1555825' id='answer-label-1555825' class=' answer'><span>Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.<\/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-400650'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Which of the following best describes implied needs of your clients?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='400650' \/><input type='hidden' id='answerType400650' 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-400650[]' id='answer-id-1555826' class='answer   answerof-400650 ' value='1555826'   \/><label for='answer-id-1555826' id='answer-label-1555826' class=' answer'><span>They are needs reflected by statements made by clients regarding problems and dissatisfactions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400650[]' id='answer-id-1555827' class='answer   answerof-400650 ' value='1555827'   \/><label for='answer-id-1555827' id='answer-label-1555827' class=' answer'><span>They are statements made by you showing readiness to solve a client's problem.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400650[]' id='answer-id-1555828' class='answer   answerof-400650 ' value='1555828'   \/><label for='answer-id-1555828' id='answer-label-1555828' class=' answer'><span>They are statements made by clients expressing the desire for lower commissions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400650[]' id='answer-id-1555829' class='answer   answerof-400650 ' value='1555829'   \/><label for='answer-id-1555829' id='answer-label-1555829' class=' answer'><span>They are statements of wants and needs made by clients.<\/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-400651'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Which of the following statements about registered education savings plans (RESPs) is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='400651' \/><input type='hidden' id='answerType400651' 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-400651[]' id='answer-id-1555830' class='answer   answerof-400651 ' value='1555830'   \/><label for='answer-id-1555830' id='answer-label-1555830' class=' answer'><span>Contributions to RESPs are tax deductible.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400651[]' id='answer-id-1555831' class='answer   answerof-400651 ' value='1555831'   \/><label for='answer-id-1555831' id='answer-label-1555831' class=' answer'><span>There is a yearly contribution limit per beneficiary.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400651[]' id='answer-id-1555832' class='answer   answerof-400651 ' value='1555832'   \/><label for='answer-id-1555832' id='answer-label-1555832' class=' answer'><span>RESPs must be collapsed by the end of the 31st year of its starting date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400651[]' id='answer-id-1555833' class='answer   answerof-400651 ' value='1555833'   \/><label for='answer-id-1555833' id='answer-label-1555833' class=' answer'><span>Contributed funds grow tax-free within the plan.<\/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-400652'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Saheed is a retiree who is considering splitting his pension income with his wife, Minu. <br \/>\r<br>Which of the following outcomes may occur if he shares his pension benefits?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='400652' \/><input type='hidden' id='answerType400652' 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-400652[]' id='answer-id-1555834' class='answer   answerof-400652 ' value='1555834'   \/><label for='answer-id-1555834' id='answer-label-1555834' class=' answer'><span>Whether the couple saves on income tax will be dependent on Minu's marginal tax rate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400652[]' id='answer-id-1555835' class='answer   answerof-400652 ' value='1555835'   \/><label for='answer-id-1555835' id='answer-label-1555835' class=' answer'><span>Minu will be exposed to a pension adjustment (PA) if she receives income from his pension.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400652[]' id='answer-id-1555836' class='answer   answerof-400652 ' value='1555836'   \/><label for='answer-id-1555836' id='answer-label-1555836' class=' answer'><span>This is a form of tax evasion and is therefore considered illegal based on income tax legislation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400652[]' id='answer-id-1555837' class='answer   answerof-400652 ' value='1555837'   \/><label for='answer-id-1555837' id='answer-label-1555837' class=' answer'><span>Regardless of how much income each person reports, the total amount of income taxes will not change.<\/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-400653'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Your clients, Jessica and Ken, want to buy a house next year. You recommend a money market fund. <br \/>\r<br>How do you think a money market fund will help Jessica and Ken reach their goal?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='400653' \/><input type='hidden' id='answerType400653' 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-400653[]' id='answer-id-1555838' class='answer   answerof-400653 ' value='1555838'   \/><label for='answer-id-1555838' id='answer-label-1555838' class=' answer'><span>Money market funds are safe investments because their net asset value per unit does not usually fluctuate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400653[]' id='answer-id-1555839' class='answer   answerof-400653 ' value='1555839'   \/><label for='answer-id-1555839' id='answer-label-1555839' class=' answer'><span>Money market funds provide high returns without risking the capital invested.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400653[]' id='answer-id-1555840' class='answer   answerof-400653 ' value='1555840'   \/><label for='answer-id-1555840' id='answer-label-1555840' class=' answer'><span>Money market funds pay income weekly which can be automatically reinvested.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400653[]' id='answer-id-1555841' class='answer   answerof-400653 ' value='1555841'   \/><label for='answer-id-1555841' id='answer-label-1555841' class=' answer'><span>Money market funds provide investors a guaranteed fixed rate of return.<\/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-400654'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Pierre wants to discuss the merits of a specific mutual fund with his Dealing Representative, Simone. There are no trailer fees associated with this fund. Simone is familiar with the mutual fund that Pierre is referring to, which is not offered by her dealer. They schedule an appointment to further discuss his investment portfolio. <br \/>\r<br>Which behaviour from Simone is ethical?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='400654' \/><input type='hidden' id='answerType400654' 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-400654[]' id='answer-id-1555842' class='answer   answerof-400654 ' value='1555842'   \/><label for='answer-id-1555842' id='answer-label-1555842' class=' answer'><span>Simone's ability to keep her knowledge current on competitors' investment offerings shows that she is putting her client's interest first.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400654[]' id='answer-id-1555843' class='answer   answerof-400654 ' value='1555843'   \/><label for='answer-id-1555843' id='answer-label-1555843' class=' answer'><span>Knowing Pierre does not like that her dealer's funds have trailer fees, she chooses not to discuss the relationship between trailer fees and MER while making comparisons.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400654[]' id='answer-id-1555844' class='answer   answerof-400654 ' value='1555844'   \/><label for='answer-id-1555844' id='answer-label-1555844' class=' answer'><span>When comparing her dealer's own mutual funds to the one Pierre discovered, Simone emphasizes the importance of similar net rates of return and minimizes the significance of management expense ratios (MERs).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400654[]' id='answer-id-1555845' class='answer   answerof-400654 ' value='1555845'   \/><label for='answer-id-1555845' id='answer-label-1555845' class=' answer'><span>While comparing Fund Facts of the different mutual funds, Simone points out that not only are the fund management expenses different but so are the investor profiles for each fund.<\/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-400655'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>Dakota is a Dealing Representative with Harvest Wealth Inc., a mutual fund dealer. Dakota starts a marketing campaign to contact prospective new clients and increase sales with existing clients. <br \/>\r<br>Which of the following CORRECTLY describes activities that Dakota can engage in under her marketing campaign?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='400655' \/><input type='hidden' id='answerType400655' 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-400655[]' id='answer-id-1555846' class='answer   answerof-400655 ' value='1555846'   \/><label for='answer-id-1555846' id='answer-label-1555846' class=' answer'><span>Dakota can make telemarketing calls to clients who are listed on the National Do Not Call List<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400655[]' id='answer-id-1555847' class='answer   answerof-400655 ' value='1555847'   \/><label for='answer-id-1555847' id='answer-label-1555847' class=' answer'><span>Dakota can send promotional emails to clients who have opted into Harvest Wealth's Do Not Call List<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400655[]' id='answer-id-1555848' class='answer   answerof-400655 ' value='1555848'   \/><label for='answer-id-1555848' id='answer-label-1555848' class=' answer'><span>Dakota can send promotional emails to clients who have opted in to receive commercial electronic messages (CEMs).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400655[]' id='answer-id-1555849' class='answer   answerof-400655 ' value='1555849'   \/><label for='answer-id-1555849' id='answer-label-1555849' class=' answer'><span>Dakota can make telemarketing calls to clients who have opted in to receive commercial electronic messages (CEMs).<\/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-400656'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>You are meeting a potential client, William, for the first time. He is a high net worth individual and you are keen to get his business. <br \/>\r<br>Which of the following would you consider the most important to create an impressive first impression on your potential client?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='400656' \/><input type='hidden' id='answerType400656' 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-400656[]' id='answer-id-1555850' class='answer   answerof-400656 ' value='1555850'   \/><label for='answer-id-1555850' id='answer-label-1555850' class=' answer'><span>your body language<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400656[]' id='answer-id-1555851' class='answer   answerof-400656 ' value='1555851'   \/><label for='answer-id-1555851' id='answer-label-1555851' class=' answer'><span>volume of your voice<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400656[]' id='answer-id-1555852' class='answer   answerof-400656 ' value='1555852'   \/><label for='answer-id-1555852' id='answer-label-1555852' class=' answer'><span>your words<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400656[]' id='answer-id-1555853' class='answer   answerof-400656 ' value='1555853'   \/><label for='answer-id-1555853' id='answer-label-1555853' class=' answer'><span>tone of your voice<\/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-400657'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Xerxes, 45 years old, is a successful architect, having an annual income of $185,000. He has around $10,000 in his non-registered account, which he is looking to invest in a tax-efficient manner. <br \/>\r<br>From the following options, which would be the most tax-efficient?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='400657' \/><input type='hidden' id='answerType400657' 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-400657[]' id='answer-id-1555854' class='answer   answerof-400657 ' value='1555854'   \/><label for='answer-id-1555854' id='answer-label-1555854' class=' answer'><span>target date fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400657[]' id='answer-id-1555855' class='answer   answerof-400657 ' value='1555855'   \/><label for='answer-id-1555855' id='answer-label-1555855' class=' answer'><span>bond fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400657[]' id='answer-id-1555856' class='answer   answerof-400657 ' value='1555856'   \/><label for='answer-id-1555856' id='answer-label-1555856' class=' answer'><span>asset allocation fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400657[]' id='answer-id-1555857' class='answer   answerof-400657 ' value='1555857'   \/><label for='answer-id-1555857' id='answer-label-1555857' class=' answer'><span>Canadian equity index fund<\/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-400658'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>You are collecting know your client (KYC) information for your new client, Yael. She has recently accepted an early retirement package from her employer and has $100,000 to invest. She is looking for an investment that will provide income to help pay her ongoing monthly expenses. Without this extra income, she would have trouble paying her bills. From your discussions, Yael understands that markets fluctuate and says she is comfortable with high risk. <br \/>\r<br>Which of the following would be a suitable investment?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='400658' \/><input type='hidden' id='answerType400658' 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-400658[]' id='answer-id-1555858' class='answer   answerof-400658 ' value='1555858'   \/><label for='answer-id-1555858' id='answer-label-1555858' class=' answer'><span>global equity fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400658[]' id='answer-id-1555859' class='answer   answerof-400658 ' value='1555859'   \/><label for='answer-id-1555859' id='answer-label-1555859' class=' answer'><span>money market fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400658[]' id='answer-id-1555860' class='answer   answerof-400658 ' value='1555860'   \/><label for='answer-id-1555860' id='answer-label-1555860' class=' answer'><span>mortgage fund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400658[]' id='answer-id-1555861' class='answer   answerof-400658 ' value='1555861'   \/><label for='answer-id-1555861' id='answer-label-1555861' class=' answer'><span>Canadian equity index fund<\/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-400659'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>What does a normal yield curve look like?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='400659' \/><input type='hidden' id='answerType400659' 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-400659[]' id='answer-id-1555862' class='answer   answerof-400659 ' value='1555862'   \/><label for='answer-id-1555862' id='answer-label-1555862' class=' answer'><span>slopes upward to the left<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400659[]' id='answer-id-1555863' class='answer   answerof-400659 ' value='1555863'   \/><label for='answer-id-1555863' id='answer-label-1555863' class=' answer'><span>is flat and has no slope<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400659[]' id='answer-id-1555864' class='answer   answerof-400659 ' value='1555864'   \/><label for='answer-id-1555864' id='answer-label-1555864' class=' answer'><span>slopes down to the right<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400659[]' id='answer-id-1555865' class='answer   answerof-400659 ' value='1555865'   \/><label for='answer-id-1555865' id='answer-label-1555865' class=' answer'><span>slopes upward to the right<\/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-400660'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Frederic recently sold his units in a US dollar (USD) denominated mutual fund. He wants to convert the proceeds back to Canadian dollars (CAD). <br \/>\r<br>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?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='400660' \/><input type='hidden' id='answerType400660' 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-400660[]' id='answer-id-1555866' class='answer   answerof-400660 ' value='1555866'   \/><label for='answer-id-1555866' id='answer-label-1555866' class=' answer'><span>$1-188.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400660[]' id='answer-id-1555867' class='answer   answerof-400660 ' value='1555867'   \/><label for='answer-id-1555867' id='answer-label-1555867' class=' answer'><span>$1,200.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400660[]' id='answer-id-1555868' class='answer   answerof-400660 ' value='1555868'   \/><label for='answer-id-1555868' id='answer-label-1555868' class=' answer'><span>$1, 12.12<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400660[]' id='answer-id-1555869' class='answer   answerof-400660 ' value='1555869'   \/><label for='answer-id-1555869' id='answer-label-1555869' class=' answer'><span>$1,320.00<\/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-400661'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Stan, a portfolio manager, is looking at two steel companies as potential investments. Truesteel Inc. <br \/>\r<br>has a current ratio of 2:1 while Strongco Ltd. has a current ratio of 0.8:1. <br \/>\r<br>What could this information indicate?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='400661' \/><input type='hidden' id='answerType400661' 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-400661[]' id='answer-id-1555870' class='answer   answerof-400661 ' value='1555870'   \/><label for='answer-id-1555870' id='answer-label-1555870' class=' answer'><span>It appears that Truesteel is more profitable than Strongco.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400661[]' id='answer-id-1555871' class='answer   answerof-400661 ' value='1555871'   \/><label for='answer-id-1555871' id='answer-label-1555871' class=' answer'><span>Truesteel is better able to meet its short-term financial obligations than Strongco.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400661[]' id='answer-id-1555872' class='answer   answerof-400661 ' value='1555872'   \/><label for='answer-id-1555872' id='answer-label-1555872' class=' answer'><span>The stock market is more optimistic about the prospects for Truesteel than Strongco.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400661[]' id='answer-id-1555873' class='answer   answerof-400661 ' value='1555873'   \/><label for='answer-id-1555873' id='answer-label-1555873' class=' answer'><span>Stronqco is reiving less on debt financing than Truesteel.<\/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-400662'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Maxine is a portfolio manager who 15 years ago, purchased 100 shares of Never2Tacky, a social media corporation for Aspirations Global Technology Fund. She purchased the stock when it was trading at $10. Last year, the peak market price was $120. Presently, it is trading at $99. News agencies are now reporting that additional regulations regarding social media companies are about to be agreed upon by G7 countries. Maxine is concerned the market value of Never2Tacky is going to drop. She buys a put option with an exercise price of $95 with an expiry of 9 months. <br \/>\r<br>What type of strategy is Maxine using?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='400662' \/><input type='hidden' id='answerType400662' 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-400662[]' id='answer-id-1555874' class='answer   answerof-400662 ' value='1555874'   \/><label for='answer-id-1555874' id='answer-label-1555874' class=' answer'><span>Speculating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400662[]' id='answer-id-1555875' class='answer   answerof-400662 ' value='1555875'   \/><label for='answer-id-1555875' id='answer-label-1555875' class=' answer'><span>Modern portfolio theory<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400662[]' id='answer-id-1555876' class='answer   answerof-400662 ' value='1555876'   \/><label for='answer-id-1555876' id='answer-label-1555876' class=' answer'><span>Passively managing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400662[]' id='answer-id-1555877' class='answer   answerof-400662 ' value='1555877'   \/><label for='answer-id-1555877' id='answer-label-1555877' class=' answer'><span>Hedging<\/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-400663'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Nelson is a Dealing Representative with True Wealth Advisors Inc., a mutual fund dealer. Nelson follows proper procedures related to his firm\u2019s Relationship Disclosure Information (RDI). <br \/>\r<br>Which of the following CORRECTLY describes how Nelson is permitted to evidence that he satisfied his RDI obligation?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='400663' \/><input type='hidden' id='answerType400663' 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-400663[]' id='answer-id-1555878' class='answer   answerof-400663 ' value='1555878'   \/><label for='answer-id-1555878' id='answer-label-1555878' class=' answer'><span>Nelson may retain a copy of the RDI in the client file with detailed notes to confirm that he provided and explained the RDI to the client.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400663[]' id='answer-id-1555879' class='answer   answerof-400663 ' value='1555879'   \/><label for='answer-id-1555879' id='answer-label-1555879' class=' answer'><span>Nelson may deliver the RDI to clients who request it and keep detailed notes of the clients who were provided with the RD<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400663[]' id='answer-id-1555880' class='answer   answerof-400663 ' value='1555880'   \/><label for='answer-id-1555880' id='answer-label-1555880' class=' answer'><span>Nelson can formalize his relationship under the RDI using a Letter of Engagement that specifies duties, responsibilities, and level of service.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400663[]' id='answer-id-1555881' class='answer   answerof-400663 ' value='1555881'   \/><label for='answer-id-1555881' id='answer-label-1555881' class=' answer'><span>Nelson can record detailed notes which confirm that he provided and explained the Fund Facts to the client within 2 days of the RD<\/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-400664'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>What role do investment dealers play in the Canadian and global financial markets?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='400664' \/><input type='hidden' id='answerType400664' 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-400664[]' id='answer-id-1555882' class='answer   answerof-400664 ' value='1555882'   \/><label for='answer-id-1555882' id='answer-label-1555882' class=' answer'><span>They are contributors to a company's profits.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400664[]' id='answer-id-1555883' class='answer   answerof-400664 ' value='1555883'   \/><label for='answer-id-1555883' id='answer-label-1555883' class=' answer'><span>They are contributors to an investor's earnings.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400664[]' id='answer-id-1555884' class='answer   answerof-400664 ' value='1555884'   \/><label for='answer-id-1555884' id='answer-label-1555884' class=' answer'><span>They assist with the exchange of capital for a financial instrument.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400664[]' id='answer-id-1555885' class='answer   answerof-400664 ' value='1555885'   \/><label for='answer-id-1555885' id='answer-label-1555885' class=' answer'><span>By underwriting financial instruments, they raise capital for investors.<\/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-400665'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Jonathan is a Dealing Representative who has just finished an appointment with his new client, Shirley. Jonathan has concluded that Shirley has a low-risk profile but wants to establish additional savings of $500,000. During their discussion, Shirley emphasizes she wants investments that are also tax efficient. Jonathan learned that currently Shirley has no registered retirement savings plan (RRSP) and tax-free savings account (TFSA) contribution room due to using those opportunities by investmenting elsewhere. <br \/>\r<br>What variable is a PRIMARY consideration for Jonathan when making an investment recommendation?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='400665' \/><input type='hidden' id='answerType400665' 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-400665[]' id='answer-id-1555886' class='answer   answerof-400665 ' value='1555886'   \/><label for='answer-id-1555886' id='answer-label-1555886' class=' answer'><span>Investment objective<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400665[]' id='answer-id-1555887' class='answer   answerof-400665 ' value='1555887'   \/><label for='answer-id-1555887' id='answer-label-1555887' class=' answer'><span>Shirley's risk profile.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400665[]' id='answer-id-1555888' class='answer   answerof-400665 ' value='1555888'   \/><label for='answer-id-1555888' id='answer-label-1555888' class=' answer'><span>Expected time horizon.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400665[]' id='answer-id-1555889' class='answer   answerof-400665 ' value='1555889'   \/><label for='answer-id-1555889' id='answer-label-1555889' class=' answer'><span>The tax consequences.<\/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-400666'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Which of the following statements is TRUE about the movement of business cycles in the Canadian economy?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='400666' \/><input type='hidden' id='answerType400666' 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-400666[]' id='answer-id-1555890' class='answer   answerof-400666 ' value='1555890'   \/><label for='answer-id-1555890' id='answer-label-1555890' class=' answer'><span>A period of economic expansion is followed by a period of economic contraction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400666[]' id='answer-id-1555891' class='answer   answerof-400666 ' value='1555891'   \/><label for='answer-id-1555891' id='answer-label-1555891' class=' answer'><span>A period of economic expansion is of the same length in every cycle.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400666[]' id='answer-id-1555892' class='answer   answerof-400666 ' value='1555892'   \/><label for='answer-id-1555892' id='answer-label-1555892' class=' answer'><span>A period of economic expansion is always of the same length as a period of economic contraction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400666[]' id='answer-id-1555893' class='answer   answerof-400666 ' value='1555893'   \/><label for='answer-id-1555893' id='answer-label-1555893' class=' answer'><span>A period of at least 3 consecutive months of contraction is called a recession.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-400667'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Sheldon is a 25 year old graphic designer. He has just started working and saves regularly. Apart from his regular salary he also earns extra money from freelancing after office hours and during weekends. <br \/>\r<br>His earnings from his freelance work are sufficient for meeting his living expenses. He saves the entire amount of his salary. He has heard about lifecycle funds but has come to you for additional information. <br \/>\r<br>Which of the following statement about lifecycle funds is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='400667' \/><input type='hidden' id='answerType400667' 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-400667[]' id='answer-id-1555894' class='answer   answerof-400667 ' value='1555894'   \/><label for='answer-id-1555894' id='answer-label-1555894' class=' answer'><span>As Sheldon gets older, the life cycle asset allocation changes from more risky to less risky.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400667[]' id='answer-id-1555895' class='answer   answerof-400667 ' value='1555895'   \/><label for='answer-id-1555895' id='answer-label-1555895' class=' answer'><span>All lifecycle funds start with equal allocations to cash, fixed income and equities before being re-balanced.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400667[]' id='answer-id-1555896' class='answer   answerof-400667 ' value='1555896'   \/><label for='answer-id-1555896' id='answer-label-1555896' class=' answer'><span>The asset allocation of a lifecycle fund is set based on the age demographic of its unitholders and remains the same for the time frame of the lifecycle fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400667[]' id='answer-id-1555897' class='answer   answerof-400667 ' value='1555897'   \/><label for='answer-id-1555897' id='answer-label-1555897' class=' answer'><span>Investor income is the only basis for changing the asset allocation of a lifecycle mutual fund.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-400668'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Last year Peter\u2019s earned income from employment was $50,000. <br \/>\r<br>Last year, after receiving a $2 per share in dividends from 500 shares in ABC Inc., a publicly-traded Canadian corporation, he sold his shares. <br \/>\r<br>The sale resulted in a capital gain of $15,000. <br \/>\r<br><br><img decoding=\"async\" width=649 height=223 id=\"\u56fe\u7247 6\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2025\/05\/image002-40.jpg\"><br><br \/>\r<br>Based on the tax rates mentioned above, what is Peter\u2019s net federal tax liability for the year? (Round to 2 decimal places).<\/div><input type='hidden' name='question_id[]' id='qID_42' value='400668' \/><input type='hidden' id='answerType400668' 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-400668[]' id='answer-id-1555898' class='answer   answerof-400668 ' value='1555898'   \/><label for='answer-id-1555898' id='answer-label-1555898' class=' answer'><span>$9,953.30<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400668[]' id='answer-id-1555899' class='answer   answerof-400668 ' value='1555899'   \/><label for='answer-id-1555899' id='answer-label-1555899' class=' answer'><span>$9,193.69<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400668[]' id='answer-id-1555900' class='answer   answerof-400668 ' value='1555900'   \/><label for='answer-id-1555900' id='answer-label-1555900' class=' answer'><span>$9,113.53<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400668[]' id='answer-id-1555901' class='answer   answerof-400668 ' value='1555901'   \/><label for='answer-id-1555901' id='answer-label-1555901' class=' answer'><span>$9,696.15<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-400669'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>Which among the following BEST describes a company\u2019s income statement?<\/div><input type='hidden' name='question_id[]' id='qID_43' value='400669' \/><input type='hidden' id='answerType400669' 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-400669[]' id='answer-id-1555902' class='answer   answerof-400669 ' value='1555902'   \/><label for='answer-id-1555902' id='answer-label-1555902' class=' answer'><span>It shows the amount of profit that is reinvested in the company in the form of retained earnings.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400669[]' id='answer-id-1555903' class='answer   answerof-400669 ' value='1555903'   \/><label for='answer-id-1555903' id='answer-label-1555903' class=' answer'><span>It shows the amount of capital contributed to the company by its shareholders or owners.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400669[]' id='answer-id-1555904' class='answer   answerof-400669 ' value='1555904'   \/><label for='answer-id-1555904' id='answer-label-1555904' class=' answer'><span>It shows the earnings and expenses of a business over a period of time.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400669[]' id='answer-id-1555905' class='answer   answerof-400669 ' value='1555905'   \/><label for='answer-id-1555905' id='answer-label-1555905' class=' answer'><span>It provides a snapshot of a company's financial position at a specific point in time<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-400670'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>Ai Fen has recently become registered to sell mutual funds with Acadian Eastern Financial, a mutual fund dealer. Ai Fen determined that with her background of being a Chartered Financial Analyst, she can help people understand the nature of investing more easily than others in her field. <br \/>\r<br>Which registration category will need to be prominently noted on Ai Fen\u2019s business card to comply with the \u201cholding out rule\u201d?<\/div><input type='hidden' name='question_id[]' id='qID_44' value='400670' \/><input type='hidden' id='answerType400670' 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-400670[]' id='answer-id-1555906' class='answer   answerof-400670 ' value='1555906'   \/><label for='answer-id-1555906' id='answer-label-1555906' class=' answer'><span>Dealing Representative<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400670[]' id='answer-id-1555907' class='answer   answerof-400670 ' value='1555907'   \/><label for='answer-id-1555907' id='answer-label-1555907' class=' answer'><span>Registered Representative<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400670[]' id='answer-id-1555908' class='answer   answerof-400670 ' value='1555908'   \/><label for='answer-id-1555908' id='answer-label-1555908' class=' answer'><span>Investment Representative<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400670[]' id='answer-id-1555909' class='answer   answerof-400670 ' value='1555909'   \/><label for='answer-id-1555909' id='answer-label-1555909' class=' answer'><span>Chartered Financial Analyst<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-400671'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>Which of the following statements regarding mutual fund fees is correct?<\/div><input type='hidden' name='question_id[]' id='qID_45' value='400671' \/><input type='hidden' id='answerType400671' 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-400671[]' id='answer-id-1555910' class='answer   answerof-400671 ' value='1555910'   \/><label for='answer-id-1555910' id='answer-label-1555910' class=' answer'><span>Redemptions are made from units held by investors to pay trailer fees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400671[]' id='answer-id-1555911' class='answer   answerof-400671 ' value='1555911'   \/><label for='answer-id-1555911' id='answer-label-1555911' class=' answer'><span>Trailer fees are only paid to mutual fund dealers when a purchase is made.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400671[]' id='answer-id-1555912' class='answer   answerof-400671 ' value='1555912'   \/><label for='answer-id-1555912' id='answer-label-1555912' class=' answer'><span>The mutual fund dealer receives trailer fees based on the value of assets under management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400671[]' id='answer-id-1555913' class='answer   answerof-400671 ' value='1555913'   \/><label for='answer-id-1555913' id='answer-label-1555913' class=' answer'><span>Trading commissions are paid from the management fee.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-400672'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>Portia is a Dealing Representative with Highview Wealth Inc., a mutual fund dealer. Portia recommends the Stature Growth Fund to her client Clive. <br \/>\r<br>Which of the following CORRECTLY describes what Portia must do in order to satisfy her obligations under the Client Relationship Model (CRM) and Client Focused Reforms (CFR)?<\/div><input type='hidden' name='question_id[]' id='qID_46' value='400672' \/><input type='hidden' id='answerType400672' 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-400672[]' id='answer-id-1555914' class='answer   answerof-400672 ' value='1555914'   \/><label for='answer-id-1555914' id='answer-label-1555914' class=' answer'><span>Portia must calculate the net asset value per unit (NAVPU) and report it to Give in the trade confirmation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400672[]' id='answer-id-1555915' class='answer   answerof-400672 ' value='1555915'   \/><label for='answer-id-1555915' id='answer-label-1555915' class=' answer'><span>Portia must mark the trade as ^unsolicited&quot; if Clive wants to proceed with the trade and it is not suitable for him.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400672[]' id='answer-id-1555916' class='answer   answerof-400672 ' value='1555916'   \/><label for='answer-id-1555916' id='answer-label-1555916' class=' answer'><span>Portia must disclose the costs, expenses, and ongoing fees associated with the investment prior to the trade.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400672[]' id='answer-id-1555917' class='answer   answerof-400672 ' value='1555917'   \/><label for='answer-id-1555917' id='answer-label-1555917' class=' answer'><span>Portia must provide Clive with the pre-trade disclosure to address any material conflicts of interest with the trade.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-400673'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>During the calendar year, Firmansyah received a $1,800 eligible dividend from a large Canadian bank and a foreign, dividend from his The USD\/CAD exchange rates is 1.3605. <br \/>\r<br>Firmansyah\u2019s federal marginal tax bracket is 29%. The enhanced dividend gross-up rate is 38% and the federal dividend tax credit rate for eligible dividends is 15%. <br \/>\r<br>What federal tax liability will be due from the investment income?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='400673' \/><input type='hidden' id='answerType400673' 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-400673[]' id='answer-id-1555918' class='answer   answerof-400673 ' value='1555918'   \/><label for='answer-id-1555918' id='answer-label-1555918' class=' answer'><span>$522.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400673[]' id='answer-id-1555919' class='answer   answerof-400673 ' value='1555919'   \/><label for='answer-id-1555919' id='answer-label-1555919' class=' answer'><span>$348.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400673[]' id='answer-id-1555920' class='answer   answerof-400673 ' value='1555920'   \/><label for='answer-id-1555920' id='answer-label-1555920' class=' answer'><span>$695.76<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400673[]' id='answer-id-1555921' class='answer   answerof-400673 ' value='1555921'   \/><label for='answer-id-1555921' id='answer-label-1555921' class=' answer'><span>$870.00<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-400674'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>Which of the following statements describes a feature of the Home Buyers\u2019 Plan (HBP)?<\/div><input type='hidden' name='question_id[]' id='qID_48' value='400674' \/><input type='hidden' id='answerType400674' 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-400674[]' id='answer-id-1555922' class='answer   answerof-400674 ' value='1555922'   \/><label for='answer-id-1555922' id='answer-label-1555922' class=' answer'><span>To qualify- as a first-time home buyer you or your spouse must never have previously owned a \r\nhome<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400674[]' id='answer-id-1555923' class='answer   answerof-400674 ' value='1555923'   \/><label for='answer-id-1555923' id='answer-label-1555923' class=' answer'><span>Once you are required to repay the amounts back to your RRS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400674[]' id='answer-id-1555924' class='answer   answerof-400674 ' value='1555924'   \/><label for='answer-id-1555924' id='answer-label-1555924' class=' answer'><span>any missed or incomplete payments are subject to tax.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400674[]' id='answer-id-1555925' class='answer   answerof-400674 ' value='1555925'   \/><label for='answer-id-1555925' id='answer-label-1555925' class=' answer'><span>A qualifying home must be purchased by December 31 of the year of withdrawal.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400674[]' id='answer-id-1555926' class='answer   answerof-400674 ' value='1555926'   \/><label for='answer-id-1555926' id='answer-label-1555926' class=' answer'><span>If you have a spouse or common-law partner, each of you can withdraw up to JE50.000 from your registered retirement savings plans (RRSPs).<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-400675'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>Sarah and Kyle are a married couple. They are both 34 years of age and work as teachers. Their combined annual income is $130,000. They are able to save $800 each month. They own a home worth $340,000 with a $120,000 mortgage. Since they work for the same employer, they have the same defined benefit pension plan. Other than a tax-free savings account (TFSA) in Kyle\u2019s name with $5,000, they do not have any other assets. <br \/>\r<br>They are avid sailors and want to save towards a purchase of a sailboat. For the type of sailboat they want, they estimate it should cost around $65,000. They want you to recommend an investment for their monthly savings to help them achieve their goal faster. <br \/>\r<br>What question should you ask them next?<\/div><input type='hidden' name='question_id[]' id='qID_49' value='400675' \/><input type='hidden' id='answerType400675' 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-400675[]' id='answer-id-1555927' class='answer   answerof-400675 ' value='1555927'   \/><label for='answer-id-1555927' id='answer-label-1555927' class=' answer'><span>How would you feel if you lost part of your money in the short-term?<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400675[]' id='answer-id-1555928' class='answer   answerof-400675 ' value='1555928'   \/><label for='answer-id-1555928' id='answer-label-1555928' class=' answer'><span>What is your investment objective for these savings?<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400675[]' id='answer-id-1555929' class='answer   answerof-400675 ' value='1555929'   \/><label for='answer-id-1555929' id='answer-label-1555929' class=' answer'><span>What is your net worth?<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400675[]' id='answer-id-1555930' class='answer   answerof-400675 ' value='1555930'   \/><label for='answer-id-1555930' id='answer-label-1555930' class=' answer'><span>How much do you make individually each year?<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-400676'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>One of your clients, Harry, has heard that he can defer paying tax on capital gains. He wants to know if what he has heard is correct and if so, how to defer paying taxes on capital gains. <br \/>\r<br>What would you tell Harry?<\/div><input type='hidden' name='question_id[]' id='qID_50' value='400676' \/><input type='hidden' id='answerType400676' 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-400676[]' id='answer-id-1555931' class='answer   answerof-400676 ' value='1555931'   \/><label for='answer-id-1555931' id='answer-label-1555931' class=' answer'><span>He should hold profitable investments as long as possible.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400676[]' id='answer-id-1555932' class='answer   answerof-400676 ' value='1555932'   \/><label for='answer-id-1555932' id='answer-label-1555932' class=' answer'><span>He should invest in mutual funds just before the dividend paying date to pick up the dividend.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400676[]' id='answer-id-1555933' class='answer   answerof-400676 ' value='1555933'   \/><label for='answer-id-1555933' id='answer-label-1555933' class=' answer'><span>Harry should buy and sell investments actively.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-400676[]' id='answer-id-1555934' class='answer   answerof-400676 ' value='1555934'   \/><label for='answer-id-1555934' id='answer-label-1555934' class=' answer'><span>He should hold unprofitable investments as long as possible.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-51'>\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=\"watuPROButtons10085\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; 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   \t \n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Preparing for the Canadian Investment Funds Course (CIFC) certification exam requires both accuracy and trust, and that\u2019s where the CIFC dumps (V9.02) from DumpsBase become the perfect solution. 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