IFC試験無料問題集（326題）「CISI Investment Funds in Canada (IFC) 認定」

出題：1

Josephine is a Dealing Representative with Sunshine Mutual Funds Inc. for over 10 years. Her brother Jonathan has an account with Sunshine Mutual Funds Inc., too. Jonathan wants Josephine to manage his portfolio and make investment decisions on his behalf. Jonathan trusts his sister to make better investment choices than he can. He also wants to give Power of Attorney (POA) to Josephine so she can have full authority over his account.
How can Josephine respond to her brother's request?

A. Josephine cannot accept the POA as she is not the immediate family.

B. Josephine should accept the POA after making a full disclosure to her dealer about the POA.

C. Josephine can accept the POA as it is an exception that is permitted under the MFDA rules.

D. Josephine can accept a limited POA.

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：2

Quintin has been a Dealing Representative for Global Maximum Financial for 5 years. Today, he opened an account for his new client, Reginald. In addition to opening a new account, Reginald agreed to accept Quintin's investment recommendation and placed a purchase order to buy units of the Global Maximum Value Equity fund.
Quintin informed his Branch Manager Lupita about this new account on the same day the purchase order was received. Lupita told Quintin that she would complete her review of the New Client Application Form (NCAF) by no later than tomorrow.
Which statement regarding this new account opening is CORRECT?

A. Unless Quintin is presently under probation, he does not need Lupita's approval regarding the NCAF.

B. Lupita has two business days from the date of opening the new account to approve the NCAF completed by Quintin.

C. Quintin cannot accept purchase orders from a client until Lupita completes her review of the NCAF.

D. Quintin and Lupita are both following proper procedure regarding new account openings and purchase orders.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：3

Stan, a portfolio manager, is looking at two steel companies as potential investments. Truesteel Inc. has a current ratio of 2:1 while Strongco Ltd. has a current ratio of 0.8:1.
What could this information indicate?

A. Stronqco is reiving less on debt financing than Truesteel.

B. It appears that Truesteel is more profitable than Strongco.

C. The stock market is more optimistic about the prospects for Truesteel than Strongco.

D. Truesteel is better able to meet its short-term financial obligations than Strongco.

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：4

The Optima Equity Fund has a beta of 1.4. What is the most accurate way to describe the Optima Equity Fund' s relationship to the market as a whole?

A. If the market goes up by 10%, the Optima Fund should go up by 11.4%

B. If the market goes down by 5%, the Optima Fund should go down by 5.7%

C. If the market goes down by 10%, the Optima Fund should go up by 11.4%

D. If the market goes up by 5%, the Optima Fund should go up by 7%

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：5

A fund manager who utilizes an interest rate anticipation philosophy forecasts a rise in interest rates. What change in asset allocation should he implement?

A. Increase long-term bond and low coupon bond holdings

B. Increase long-term and high coupon bond holdings

C. Increase short-term T-bill and low coupon bond holdings

D. Increase short-term T-bill and high coupon bond holdings

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：6

Why do speculators tend to avoid diversification?

A. Not diversifying a portfolio exposes the investor to the total risk of the securities

B. Diversifying a portfolio tends to increase the probability of very large gains and losses

C. Diversifying a portfolio may result in overall risk that is lower than that of its component securities

D. Diversifying a portfolio tends to reduce the probability of very large gains and losses

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：7

What response would a loss-averse investor be most likely to choose in selecting a preferred investment return scenario?

A. An assured loss of $750

B. A 25% chance of gaining $2,000, and a 75% chance of losing nothing

C. A 5% chance of gaining $1,500, and a 95% chance of losing $800

D. A 75% chance of losing $1,000, and a 25% chance of losing nothing

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：8

Your client, Kimberly has investments in both registered and non-registered plans. Which of the following investment strategies is best suited for Kimberly from a tax perspective?

A. Include interest paying investments in the registered plan and dividend paying investments in the non- registered plan.

B. Include investments paying capital gains in the registered plan and foreign pay investments in the non- registered plan.

C. Include dividend paying investments in the registered plan and interest paying investments in the non- registered plan.

D. Include domestic pay assets in the registered plan and foreign pay assets in the non-registered plan.

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：9

Your client, Cosmo, recently inherited $50,000 from his uncle. He wants to use this money towards his retirement savings. Cosmo is a 50-year old, self-employed carpenter and he earns on average $65,000 per year. He has a registered retirement savings plan (RRSP) with the bank worth $425,000 and a tax-free savings account (TFSA) worth $46,000. He started saving when he was 25 years old and has always made his own investment decisions. His money is mostly invested in balanced funds. He feels most comfortable with these types of mutual funds since they offer potential investment growth but without being too aggressive. Cosmo has no other assets.
What additional information do you need about Cosmo to fulfill your know your client obligation?

A. risk tolerance

B. time horizon

C. income and net worth

D. investment objectives

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：10

The portfolio manager of the High Income Fund has 90% of the mutual fund invested in bonds. What is a reason for holding bonds in a mutual fund portfolio?

A. Coupon payments paid by bonds from large Canadian corporations are eligible for preferential tax treatment.

B. Bonds provide regular interest income which can be flowed out directly to investors.

C. To increase the dividend yield and credit quality of the mutual fund

D. Bonds produce regular capital gain payments which result in preferential tax treatment for unitholders.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：11

Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She is wondering if it is too late to change her mind and cancel her purchase order.
Which statement regarding the right of withdrawal is CORRECT?

A. The Mutual Fund Dealers Association of Canada (MFDA) have written conduct rules regarding the right of withdrawal.

B. The Canadian Securities Administrators (CSA) created legislation that addresses the right of withdrawal for investors.

C. Mariana has to wait two business after her purchase order has been settled to exercise the right of withdrawal.

D. The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within.

正解：D 解答を投票する

出題：12

Which of the following are obligations on mutual fund dealing representatives imposed by The Proceeds of Crime (Money Laundering) and Terrorist Financing Act?

A. record-keeping of large transactions, account-related information, and other relevant records

B. reporting all financial transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

C. confirming client identity each time before concluding any transaction

D. enhancing public awareness of matters related to money laundering and terrorist financing

正解：A 解答を投票する

出題：13

You ask a new client, Brad, "what are your financial obligations and what are your assets?" What information are you trying to gather in order to comply with the know your client (KYC) rule?

A. income and cash-flow

B. marginal tax rate

C. tax consequences

D. net worth

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

IFC試験無料問題集「CISI Investment Funds in Canada (IFC) 認定」