IFSE INSTITUTE CIFC DUMPS QUESTIONS - NEW CIFC EXAM TOPICS

IFSE Institute CIFC Dumps Questions - New CIFC Exam Topics

IFSE Institute CIFC Dumps Questions - New CIFC Exam Topics

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Tags: CIFC Dumps Questions, New CIFC Exam Topics, CIFC Latest Braindumps, Cost Effective CIFC Dumps, Regualer CIFC Update

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Web-Based Practice Test IFSE Institute CIFC Exam Questions

GetValidTest IFSE Institute CIFC desktop practice exam software is usable on Windows computers without an active internet connection. It creates the complete scenario of the Canadian Investment Funds Course Exam (CIFC) real test through its multiple mock tests. Our practice software contains all the questions which you will encounter in the IFSE Institute final test.

IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q179-Q184):

NEW QUESTION # 179
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?

  • A. He should invest in mutual funds just before the dividend paying date to pick up the dividend.
  • B. Harry should buy and sell investments actively.
  • C. He should hold profitable investments as long as possible.
  • D. He should hold unprofitable investments as long as possible.

Answer: A


NEW QUESTION # 180
As a measurement of risk, which of the following statements about beta is TRUE?

  • A. A larger beta for a stock means it will outperform the market at any point in the business cycle.
  • B. It corresponds to a stock's riskiness in relation to the frequency of dividend payments over a certain period of time.
  • C. It is a relative measure that compares how an investment reacts to movements in a specific index.
  • D. It is a ratio that compares a company's current rate of return to its average rate of return overtime.

Answer: C


NEW QUESTION # 181
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?

  • A. She can take the entire amount in cash, with no tax consequences because her RRSP funds were tax-sheltered.
  • B. She can convert her RRSP to a locked-in retirement income fund (LRIF).
  • C. She can purchase a registered term or life annuity.
  • D. She can convert her RRSP to a registered retirement income fund (RRIF) this year or by December 31st of next year.

Answer: C


NEW QUESTION # 182
Which statement about a net capital loss incurred by a mutual fund trust is CORRECT?

  • A. A net capital loss is permitted to be carried back indefinitely by the mutual fund.
  • B. A net capital loss is permitted to be carried forward indefinitely by the mutual fund.
  • C. A net capital loss is permitted to be carried forward by the mutual fund for up to 3 years.
  • D. A net capital loss is passed on to the unit holders by the mutual fund in the year it occurs.

Answer: B

Explanation:
Explanation
A net capital loss is the excess of allowable capital losses over taxable capital gains in a taxation year. A mutual fund trust is a type of investment fund that is structured as a trust and distributes its income and capital gains to its unit holders. A mutual fund trust cannot pass on its net capital losses to its unit holders, as it can only distribute its net income and net realized capital gains. However, a mutual fund trust can carry forward its net capital losses indefinitely and use them to offset its taxable capital gains in future years. This reduces the amount of tax payable by the mutual fund trust and increases the amount of distributions available to its unit holders. A mutual fund trust cannot carry back its net capital losses to previous years, as this option is only available to corporations12. References:
* Canadian Investment Funds Course (CIFC) Study Guide, Chapter 7: Taxation, Section 7.3: Taxation of Mutual Funds, page 7-103
* Capital Losses and Deductions - Canada.ca1
* Mutual Fund Trusts - Canada.ca2


NEW QUESTION # 183
Charlotte has received proceeds from a deceased family member's estate. Charlotte decides to visit Malik, who's a Dealing Representative at her bank. She tells Malik, she does not know much about trading ETFs, but she wants to invest in ETFs. Charlotte says she feels fortunate to have this money and that she's not worried about losing it because she never planned on having any of it.
What element of the Know Your Client (KYC) information has Malik been able to learn?

  • A. Risk Preference
  • B. Risk Capacity
  • C. Risk Profile
  • D. Risk Tolerance

Answer: A

Explanation:
Explanation
The element of the Know Your Client (KYC) information that Malik has been able to learn is Charlotte's risk preference. KYC information is a collection of personal and financial information that registered firms and individuals must obtain from their clients before providing any investment advice or services. KYC information helps registered firms and individuals understand their clients' needs, goals, risk tolerance, time horizon, and personal circumstances, as well as comply with regulatory obligations such as suitability, disclosure, and reporting. One of the components of KYC information is risk preference, which is a measure of how much risk an investor is willing to take on in their portfolio. It reflects the investor's attitude, personality, and emotional factors that influence their investment decisions. Risk preference can be classified into three categories: risk-seeking, risk-averse, or risk-neutral. Based on Charlotte's statement that she does not know much about trading ETFs, but she wants to invest in ETFs, and that she feels fortunate to have this money and that she's not worried about losing it because she never planned on having any of it, Malik can infer that Charlotte has a high-risk preference or a risk-seeking attitude. This means that Charlotte is willing to take on more risk in exchange for higher potential returns, even if it means losing some or all of her money.
Therefore, option C is correct regarding what element of KYC information Malik has been able to learn.
The other options are not correct regarding what element of KYC information Malik has been able to learn.
Option A is false because risk profile is not an element of KYC information; rather, it is an outcome of KYC information that summarizes the investor's overall suitability for different types of investments based on their KYC information. Option B is false because risk capacity is not an element of KYC information; rather, it is a measure of how much risk an investor can afford to take on in their portfolio based on their financial situation and goals. Option D is false because risk tolerance is not an element of KYC information; rather, it is a measure of how much risk an investor can handle in their portfolio without losing sleep or changing their plans. References: [Know Your Client (KYC) | IFIC], [Know Your Client (KYC) | GetSmarterAboutMoney.ca], [Risk Preference | Investopedia]


NEW QUESTION # 184
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