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 CIFC Dumps with Practice Exam Questions Answers

Questions: 224 questions With Step-by-Step Explanation

Last Update: Dec 3, 2024

CIFC Question Includes: Single Choice Questions: 224,

CIFC Exam Last Week Results!

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IFSE Institute CIFC Practice Exam FAQs

1. What is the IFSE Institute CIFC Exam?


The Canadian Investment Funds Course (CIFC) Exam, offered by the IFSE Institute, is a certification exam designed for individuals seeking to become mutual fund representatives in Canada. It covers various topics including regulatory environment, types of investments, and portfolio management.

2. Who should take the CIFC Exam?


The CIFC Exam is ideal for anyone wishing to become a mutual fund dealing representative, compliance professionals, branch managers, investment advisors, and other financial professionals looking to provide advice on mutual funds.

3. What are the prerequisites for the CIFC Exam?


There are no formal prerequisites for the CIFC Exam. However, it is recommended that candidates have a basic understanding of financial concepts and investment principles.

4. What topics are covered in the CIFC Exam?


The CIFC exam covers a wide range of topics related to investment funds, including:

  • Types of investment funds (Open-ended, Closed-end, ETFs)
  • Investment fund structures and fees
  • Suitability and KYC (Know Your Client) principles
  • Risk management and portfolio diversification
  • Regulatory framework for investment funds in Canada

5. What is the format of the CIFC Exam?


The CIFC exam can be taken in a paper-based format or as a computer-based test at a Pearson VUE test center. The exam duration is 180 minutes, and it consists of multiple-choice questions.

6. What is the passing score for the CIFC Exam?


To pass the CIFC Exam, candidates must achieve a minimum score of 60%.

7. What study materials are available for the CIFC Exam?


Dumpstool offers comprehensive study materials, including CIFC practice exams and CIFC study guides. These materials cover all the topics included in the Investments & Banking Exam and provide detailed explanations to help candidates understand the concepts.

8. Can I download the CIFC exam questions in PDF format?


Absolutely! At Dumpstool, we offer CIFC exam questions in a convenient PDF format, which allows you to study offline at your own pace. The PDF contains CIFC practice questions and detailed explanations to help you thoroughly understand the exam format.

9. What is Dumpstool's money-back guarantee for the CIFC Exam?


Dumpstool offers a money-back guarantee on its CIFC Exam preparation materials. If you do not pass the CIFC Exam after using our CIFC study guides, practice questions, or testing engine, you are eligible for a full refund, provided that all terms and conditions are met.

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CIFC Questions and Answers

Question # 1

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?

A.

target date fund

B.

bond fund

C.

asset allocation fund

D.

Canadian equity index fund

Question # 2

Tony, the investment manager of True North Canadian Equity Fund is deciding on some new investments. He has done an economic analysis of the various provinces and sectors of the Canadian economy and has determined that Nova Scotia and Alberta present the best prospects. He has also identified potential in the oil and gas sector. He narrows down his selection to an oil supply firm in Medicine Hat and a drilling company in Halifax.

What investment approach is Tony employing?

A.

bottom-up

B.

growth at a reasonable price (GARP)

C.

value investing

D.

top-down

Question # 3

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’s post-secondary education. She has called you to ask about registered education savings plans (RESPs).

Which of the following statements is TRUE?

A.

If Jeff qualifies for additional CESG. his CESG lifetime maximum increases to $10,000.

B.

If Jeff decides not to pursue a post-secondary education, he can keep all the CESG but it then becomes taxable.

C.

George may open an RESP for Jeff but it will not quality to receive Canada Savings Education Grants (CESGs).

D.

If Ellen receives the National Child Benefit Supplement (NCBS), Jeff may be eligible for the Canada Learning Bond

Question # 4

Megan purchases a treasury bill for $98,200. When it matures for $100,000, how does Megan treat the $1,800 difference?

A.

as interest income

B.

as a capital gain

C.

as a dividend

D.

as return of capital

Question # 5

Which of the following qualifies as personal information under the Personal Information Protection and Electronic Documents Act (PIPEDA)?

A.

employee's business address

B.

employee's name

C.

employee's credit record

D.

employee's business telephone number