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Our IFSE Institute CIFC desktop and web-based practice software are embedded with mock exams, just like the actual IFSE Institute Data Center certification exam. The Dumpcollection designs its mock papers so smartly that you can easily prepare for the Canadian Investment Funds Course Exam exam. All the essential questions are included, which have a huge chance of appearing in the real Canadian Investment Funds Course Exam exam. Our mock exams may be customized so that you can change the topics and timings for each exam according to your preparation.

IFSE Institute CIFC Exam Syllabus Topics:

Topic
Details

Topic 1

Retirement: This section of the exam measures the skills of retirement planners and covers the investment planning strategies and account types used to prepare for retirement. It includes registered plans, income needs, and withdrawal planning.

Topic 2

Economic Factors and Financial Markets: This section of the exam measures the skills of market analysts and covers the basic economic principles and financial market structures that impact investment performance. It includes interest rates, inflation, and economic cycles as they relate to investment decision-making.

Topic 3

Taxation: This section of the exam measures the skills of tax advisors and covers how different investments and accounts are taxed. It includes capital gains, interest income, dividend taxation, and the tax treatment of registered and non-registered accounts.

Topic 4

Suitability: This section of the exam measures the skills of financial planners and covers how to determine whether an investment product matches a client's profile. It focuses on risk tolerance, time horizon, and financial goals when offering investment choices.

Topic 5

Regulatory Environment: This section of the exam measures the skills of compliance officers and covers the key laws, rules, and regulatory bodies that oversee the mutual fund industry. It ensures professionals understand the legal framework in which firms and representatives operate.

Topic 6

Types of Investments: This section of the exam measures the skills of wealth managers and covers the features, risks, and benefits of various investment products. It ensures understanding of stocks, bonds, ETFs, GICs, and other instruments typically included in diversified portfolios.

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As you all know that practicing with the wrong preparation material will waste your valuable money and many precious study hours. So you need to choose the most proper and verified preparation material with caution. Preparation material for the Canadian Investment Funds Course Exam (CIFC) exam questions from Dumpcollection helps to break down the most difficult concepts into easy-to-understand examples. Also, you will find that all the included questions are based on the last and updated CIFC Exam Dumps version. We are sure that using CIFC Exam Questions preparation material will support you in passing the CIFC exam with confidence.

IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q89-Q94):

NEW QUESTION # 89
Greg is a Dealing Representative. As a part of his business building activity, Greg prepares several messages to post on his website and Facebook page. Which statement CORRECTLY describes this situation?

A. Greg's messages must be approved by his dealer before he can publish or issue the communication.
B. Posting a sales communication to a website is prohibited by the Personal Information Protection and Electronic Documents Act (PIPEDA).
C. Posting messages to Facebook is prohibited by Canada's Anti-Spam Law (CASL).
D. Greg must not discuss the investment performance, rankings, or ratings of a fund in his communication.

Answer: A

Explanation:
Explanation
According to the MFDA rules, any sales communication that is prepared by a Member or an Approved Person, such as Greg, must be approved by the dealer in writing prior to its publication, issuance, or use. A sales communication is any communication that is intended to promote the business of the Member or the Approved Person, or the sale of securities, including any communication on a website or a social media platform. The dealer must ensure that the sales communication is fair, balanced, and not misleading, and that it complies with the applicable laws and regulations12 References = web search results from search_web(query="sales communication and mutual fund dealers association rules")12

NEW QUESTION # 90
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.
In relation to account suitability, what can be said about Reginald's advice?

A. Based on Orel's stated need, recommending an RRSP contribution is unsuitable.
B. By convincing Orel to contribute an RRSP, instead of a TFSA, Reginald has put his client's interest first.
C. Recommending an investment solution that addresses two needs is putting Reginald's client's interest first
D. Reginald is putting the client's interest first by informing Orel why he should change his purpose for investing.

Answer: A

Explanation:
Explanation
Based on Orel's stated need, recommending an RRSP contribution is unsuitable because RRSP withdrawals are taxed as income and may affect Orel's eligibility for government benefits. A TFSA is more suitable for Orel's goal of developing emergency savings because TFSA withdrawals are tax-free and do not affect income-tested benefits. References: Investment Funds in Canada (IFC) | Canadian Securities Institute

NEW QUESTION # 91
Last year at age 70, Gregory opened a registered retirement income fund (RRIF). Recently, Gregory unexpectedly received a large cash gift and presently does not need to depend on any payments from his RRIF.
He contacts his financial advisor Eric for guidance.
Which of the following statements by his financial advisor would be CORRECT?

A. Withdrawals become mandatory within the first year of the plan being started.
B. Periodic contributions to a RRIF are permitted until Gregory reaches the age of 71.
C. Gregory's account will be subjected to no maximum withdrawal limit but to an annual minimum withdrawal.
D. Gregory must have attained the minimum age of 71 to open a RRIF.

Answer: C

Explanation:
Explanation
According to the Canadian Investment Funds Course, a registered retirement income fund (RRIF) is a type of registered plan that provides a stream of income in retirement. A RRIF can be opened at any age, but it must be established by the end of the year the annuitant turns 71. A RRIF cannot accept any contributions, but it can receive transfers from other registered plans, such as RRSPs, PRPPs, RPPs, or other RRIFs. A RRIF has no maximum withdrawal limit, meaning that the annuitant can withdraw any amount from the plan at any time.
However, a RRIF has a minimum withdrawal requirement, which is calculated based on the annuitant's age or the age of their spouse or common-law partner. The minimum withdrawal must be paid out in the year following the year the RRIF is opened and every year thereafter. The minimum withdrawal is taxable as income in the year of receipt.
Therefore, the correct answer is C. Gregory's account will be subjected to no maximum withdrawal limit but to an annual minimum withdrawal.
References: 1: Canadian Investment Funds Course - IFSE Institute 2 (Unit 9: Retirement)

NEW QUESTION # 92
Your client, James, would like to work beyond the normal retirement age. He comes to you for advice on his registered retirement savings plan (RRSP). What are the rules regarding terminating an RRSP?

A. James must terminate the plan by the end of the year he turns 71.
B. James must terminate the plan by the end of the year he turns 70.
C. James must terminate the plan by the end of the year he turns 67.
D. James must terminate the plan by the end of the year he turns 65.

Answer: A

Explanation:
According to the Canadian Investment Funds Course, an RRSP is a retirement savings plan that allows individuals to defer taxes on their contributions and investment income until they withdraw the funds.
However, an RRSP cannot be held indefinitely and must be terminated by the end of the year the annuitant turns 71. At that point, the annuitant has three options to withdraw the funds from the RRSP:
Make a lump-sum withdrawal, which is subject to withholding tax and income tax.
Convert the RRSP to a registered retirement income fund (RRIF), which provides a steady stream of income with a minimum amount that must be withdrawn each year.
Purchase an annuity, which offers a guaranteed income for life or for a specified period.
References: 1: Canadian Investment Funds Course - IFSE Institute 2 (Unit 9: Retirement)

NEW QUESTION # 93
Gershon is a Dealing Representative and he opens a new account for his client, Isaac. Gershon collects the necessary information from Isaac in order to designate the Trusted Contact Person (TCP) for Isaac's account.
Which of the following statements about Isaac's TCP is CORRECT?

A. The TCP is the person whom Gershon can speak to if he becomes concerned about Isaac's mental capacity to make financial decisions.
B. The TCP is the person who is designated with authority to direct financial dealings for Isaac's account and make financial decisions.
C. The TCP is an alternative to a Power of Attorney (PQA) and has the authority to make changes to Isaac's account and direct trading.
D. The TCP is an alternative authority on Isaac's account that has the power to place a temporary hold on Isaac's account to disallow trading.

Answer: A

Explanation:
Explanation
A Trusted Contact Person (TCP) is someone that an investor authorizes their brokerage firm to contact in limited circumstances, such as if the broker has trouble reaching the investor or has a reasonable belief that the investor's account may be exposed to possible financial exploitation. A TCP does not have the authority to make changes to the investor's account or direct trading, unlike a Power of Attorney (POA). A TCP also does not have the power to place a temporary hold on the investor's account, which is a decision made by the brokerage firm. Therefore, C is the correct answer. References: What is a Trusted Contact Person and why you should name one, Do You Need A 'Trusted Contact' To Help Protect You?, Investor Bulletin: Please Consider Adding a Trusted Contact Person to Your Account

NEW QUESTION # 94
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