NEW CIFC TEST SIMULATOR, CIFC RELIABLE EXAM SIMULATIONS

New CIFC Test Simulator, CIFC Reliable Exam Simulations

New CIFC Test Simulator, CIFC Reliable Exam Simulations

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Tags: New CIFC Test Simulator, CIFC Reliable Exam Simulations, Questions CIFC Pdf, Study CIFC Material, CIFC Valid Exam Tutorial

P.S. Free & New CIFC dumps are available on Google Drive shared by Prep4pass: https://drive.google.com/open?id=1AIkrU3q3gH60lSy-I9-bcSl9Pz-gVu-6

To get all these benefits you must have to pass the Canadian Investment Funds Course Exam (CIFC) certification exam which is not an easy task. It is a difficult task but you can make Prep4pass simple and quick. To do this you just visit Exams. Solutions provide updated, valid, and actual CIFC Exam Dumps that will assist you in Canadian Investment Funds Course Exam (CIFC) exam preparation and you can easily get success in this challenging Canadian Investment Funds Course Exam exam with flying colors.

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IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q172-Q177):

NEW QUESTION # 172
Your client, Rinaldo, wants to know more about the fees associated with his mutual funds. What can you tell him about a mutual fund's management expense ratio (MER)?

  • A. Mutual fund performance is not impacted by the MER since rates of return are published net of fees.
  • B. The MER reflects the percentage of each dollar of fund assets that is used to pay for management services.
  • C. Trailer and brokerage fees are charged separately from the MER.
  • D. Mutual funds are required to calculate the MER on a daily basis.

Answer: B


NEW QUESTION # 173
Francis wants to redeem his US Asset Allocation Fund as he needs the money for a down payment for a home purchase. The current proceeds from the redemption are USD $27,859, and the current CAD/USD exchange rate is 0.7353.
How much will Francis receive in Canadian dollars when he redeems the Funds? Please round your answer to the nearest dollar.

  • A. $35,859
  • B. $37,888
  • C. $36,698
  • D. $42,861

Answer: B

Explanation:
Explanation
A is correct because Francis will receive $37,888 in Canadian dollars when he redeems the Funds. This is calculated by dividing the current proceeds from the redemption in US dollars by the current CAD/USD exchange rate and rounding to the nearest dollar. That is,


NEW QUESTION # 174
Which of the following is a rationale for a portfolio manager to use a passive portfolio management strategy?

  • A. The manager does not believe in using benchmarks.
  • B. The manager believes he or she can outperform the market with his or her stock picking skills.
  • C. The manager believes that as the markets are fairly priced, it would be futile to look for mis-priced securities.
  • D. The manager wishes to create capital gains in the mutual fund by frequently buying and selling stocks

Answer: C


NEW QUESTION # 175
Derek submits an order to sell 300 units of the Evergreen Canadian Mortgage Fund at 8:00 p.m. EST on Friday, January 6. His proceeds will be based on the net asset value per unit (NAVPU) for which day (assume no holidays)?

  • A. Tuesday, January 10
  • B. Monday, January 9
  • C. Friday, January 6
  • D. Wednesday, January 11

Answer: A

Explanation:
Explanation
The net asset value per unit (NAVPU) is the price at which mutual fund units are bought and sold. The NAVPU is calculated at the end of each business day, based on the closing market value of the fund's assets and liabilities. When an investor submits an order to buy or sell mutual fund units, the order is processed at the NAVPU of the next valuation date, which is the next business day after the order is received by the fund company. This is called forward pricing. In this case, Derek submits his order to sell 300 units of the Evergreen Canadian Mortgage Fund at 8:00 p.m. EST on Friday, January 6. This is after the cut-off time for that day, which is usually 4:00 p.m. EST. Therefore, his order will be processed at the NAVPU of the next valuation date, which is Monday, January 9. However, since the Evergreen Canadian Mortgage Fund is a money market fund, it has a one-day settlement period, which means that Derek will receive his proceeds on the following business day after his order is processed. Therefore, his proceeds will be based on the NAVPU for Tuesday, January 10. References:
Canadian Investment Funds Course (CIFC) Study Guide, Chapter 4: Mutual Funds, Section 4.4: Buying and Selling Mutual Funds, page 4-161 Forward Pricing Definition - Investopedia2 Money Market Fund Definition - Investopedia3


NEW QUESTION # 176
Danica is looking for a mutual fund to hold in her non-registered account that provides a regular stream of income with potential for capital growth. She is having difficulty distinguishing between bond funds and dividend funds. Which of the following statements is TRUE?

  • A. Bond funds receive fixed interest payments from most of their investments.
  • B. When interest rates rise, the net asset value per unit (NAVPU) of bond funds decreases; whereas with dividend funds it rises.
  • C. The return of dividend funds relies only on interest rates; whereas with bond funds, the return also depends on the general direction of stock markets.
  • D. Bond fund distributions receive more favorable tax treatment than that of dividend funds.

Answer: A

Explanation:
Explanation
C is correct because bond funds receive fixed interest payments from most of their investments, as they invest mainly in bonds and other fixed-income securities that pay a regular coupon rate. Dividend funds receive variable dividend payments from most of their investments, as they invest mainly in stocks and other equity securities that pay dividends based on the company's earnings and policies. The return of dividend funds does not rely only on interest rates (A), but also on other factors such as stock prices, earnings growth, dividend yield, and dividend payout ratio. The return of bond funds also depends on interest rates, as well as other factors such as credit quality, maturity, duration, and yield curve. When interest rates rise, the NAVPU of both bond funds and dividend funds decreases (B), not rises, as it lowers the present value of their future cash flows. Bond fund distributions do not receive more favorable tax treatment than that of dividend funds (D), but rather less favorable, as interest income is fully taxable at the investor's marginal tax rate while eligible dividends receive a dividend tax credit that reduces their taxable amount. References: Canadian Investment Funds Course (CIFC) | IFSE Institute


NEW QUESTION # 177
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