Dependable CIFC Exam Dumps to Become IFSE Institute Certified [Q58-Q77]

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Dependable CIFC Exam Dumps to Become IFSE Institute Certified

Get Ready with CIFC Exam Dumps (2023)

NEW QUESTION 58
Which among the following BEST describes a company’s income statement?

It shows the amount of profit that is reinvested in the company in the form of retained earnings.

It shows the amount of capital contributed to the company by its shareholders or owners.

It shows the earnings and expenses of a business over a period of time.

It provides a snapshot of a company’s financial position at a specific point in time

NEW QUESTION 59
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.
From the following options, which would be the most tax-efficient?

target date fund

bond fund

asset allocation fund

Canadian equity index fund

NEW QUESTION 60
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.
What would you tell Harry?

He should hold profitable investments as long as possible.

He should invest in mutual funds just before the dividend paying date to pick up the dividend.

Harry should buy and sell investments actively.

He should hold unprofitable investments as long as possible.

NEW QUESTION 61
Which of the following best describes implied needs of your clients?

They are needs reflected by statements made by clients regarding problems and dissatisfactions.

They are statements made by you showing readiness to solve a client’s problem.

They are statements made by clients expressing the desire for lower commissions.

They are statements of wants and needs made by clients.

NEW QUESTION 62
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’s estate. Bernadette would like to invest her inheritance in financial products that would not only grow her money but is also income tax friendly.
Which of the following would provide the most favourable tax treatment?

Dividends received from a large foreign corporation.

Coupon payments from Government of Canada bonds.

Capital gains from a large Canadian corporation.

Eligible dividends from a publicly-listed Canadian corporation

NEW QUESTION 63
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. Which of the following would you consider the most important to create an impressive first impression on your potential client?

your body language

volume of your voice

your words

tone of your voice

NEW QUESTION 64
Your clients, Jessica and Ken, want to buy a house next year. You recommend a money market fund. How do you think a money market fund will help Jessica and Ken reach their goal?

Money market funds are safe investments because their net asset value per unit does not usually fluctuate.

Money market funds provide high returns without risking the capital invested.

Money market funds pay income weekly which can be automatically reinvested.

Money market funds provide investors a guaranteed fixed rate of return.

NEW QUESTION 65
Portia is a Dealing Representative with Highview Wealth Inc., a mutual fund dealer. Portia recommends the Stature Growth Fund to her client Clive. 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)?

Portia must calculate the net asset value per unit (NAVPU) and report it to Give in the trade confirmation.

Portia must mark the trade as ^unsolicited” if Clive wants to proceed with the trade and it is not suitable for him.

Portia must disclose the costs, expenses, and ongoing fees associated with the investment prior to the trade.

Portia must provide Clive with the pre-trade disclosure to address any material conflicts of interest with the trade.

NEW QUESTION 66
Eleanora receives a $500 eligible Canadian dividend from her mutual fund. Her federal marginal tax rate for the year is 29%. Assuming the enhanced gross-up of 38% and a federal dividend tax credit of 15.02%, how much federal tax will she pay on her dividend?

$69.90

$189.16

$96.46

$115.40

NEW QUESTION 67
At the close of business, Great Lengths Equity Fund had total assets of $135 million and total liabilities of $10 million. They had 11 million units outstanding. In addition, their current assets totalled $13 million and current liabilities were $3 million. Which of the following statements regarding Great Lengths Equity Fund’s net asset value per unit (NAVPU) is correct?

The NAVPU is the total liabilities divided by the number of outstanding units.

Current assets and current liabilities are used in the NAVPU calculation.

There is not enough information available to calculate the NAVPU.

Great Lengths Equity Fund’s NAVPU is $11.36.

NEW QUESTION 68
Janine will celebrate her 71st birthday this year. She currently has a lot of money in a personal registered retirement savings plan (RRSP) and knows there are rules about what she can do with those funds. Which of the following is TRUE?

She can convert her RRSP to a locked-in retirement income fund (LRIF).

She can convert her RRSP to a registered retirement income fund (RRIF) this year or by December 31st of next year.

She can take the entire amount in cash, with no tax consequences because her RRSP funds were tax-sheltered.

She can purchase a registered term or life annuity.

NEW QUESTION 69
Which of the following statements about your mutual fund registration is CORRECT?

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

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

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

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

NEW QUESTION 70
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. Which of the following CORRECTLY describes activities that Dakota can engage in under her marketing campaign?

Dakota can make telemarketing calls to clients who are listed on the National Do Not Call List

Dakota can send promotional emails to clients who have opted into Harvest Wealth’s Do Not Call List

Dakota can send promotional emails to clients who have opted in to receive commercial electronic messages (CEMs).

Dakota can make telemarketing calls to clients who have opted in to receive commercial electronic messages (CEMs).

NEW QUESTION 71
Exchange traded funds (ETFs) that track an index and index mutual funds have many similarities. However, what is a major difference between these two products?

While ETFs are prone to tracking errors, index funds are perfectly aligned with their underlying index.

ETFs can be purchased continuously throughout the trading day while index funds can only be bought or sold at the end of the day.

The market price of ETFs always matches the underlying basket of securities while there can be a discrepancy in pricing index funds.

ETFs do not have management fees since they are exchange traded while index funds do incur such fees.

NEW QUESTION 72
Which of the following characteristics about mortgage mutual funds is CORRECT?

typically monthly distributions of interest

if interest rates fall, the mutual fund’s net asset value per unit (NAVPU) will decline

suitable only for high risk investors

risk-free where the mortgages are National Housing Act (NHA) insured

NEW QUESTION 73
Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?

Usually the market price of an ETF is the net asset value per unit (NAVPU) of the Fund on that day.

Investors may sell their ETFs in the stock market or redeem them through the Fund at the NAVPU of the day.

ETFs have lower MERs compared to mutual funds.

All ETFs are actively managed.

NEW QUESTION 74
What type of mutual fund can invest in specified derivatives and forward contracts for grains, meats, metals, energy products, and coffee?

global equity fund

commodity pool

labour-sponsored investment fund

specialty fund

NEW QUESTION 75
Xian-Li believes she is a sophisticated investor. She has constructed her own portfolio and has had some success. She does not believe in studying a company’s details such as earnings, expenses, or assets. She is more concerned with patterns in a company’s stock price over time. She believes patterns form and can be used to predict future movements in the market.
How does Xian-Li evaluate the companies in her portfolio?

fundamental analysis

flowchart analysis

technical analysis

value analysis

NEW QUESTION 76
Which statement regarding the underwriting process and over-the-counter (OTC) markets is CORRECT?

Corporations must have their shares listed both on an exchange and the OTC market during the underwriting process.

During the underwriting process investment bankers raise investment capital from investors on behalf of corporations and governments issuing securities.

Many new stock issues that are underwritten by securities firms are first listed on a stock exchange before they are sold over-the-counter.

The disclosure standards for stock exchanges are not as stringent as those imposed by the OTC market.

NEW QUESTION 77
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.
What type of strategy is Maxine using?

Speculating

Modern portfolio theory

Passively managing

Hedging

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Dependable CIFC Exam Dumps to Become IFSE Institute Certified [Q58-Q77]

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