IFSE Institute CIFC practice materials Questions Answers

Exam Code:
CIFC
Exam Name:
Canadian Investment Funds Course Exam
Last Update:
Jun 01,2026

224 Questions Answers Verified by Experts!


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IFSE Institute CIFC Questions for Investments & Banking Certification Exam 2026

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Canadian Investment Funds Course Exam CIFC practice questions with explanations

 

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Page: 1 / 45
Total Questions: 224

Questions & Answers PDF

• Question 1

  

  Your employer has a contributory group RRSP under which he matches employee contributions, up to a maximum of 5% of salary.Which of the following statements about a group registered retirement savings plan (RRSP) is CORRECT?

  • It is more costly and time consuming to administer than traditional pension plans.
  • If you leave your employer, your group RRSP stays with the employer.
  • You need to wait until you file your taxes to receive your contribution tax deduction.
  • The employer chooses the plan provider.

  Reveal Answer Answer: D Next Question

• Question 2

  

  Which of the following statements about global equity funds is TRUE?

  • They may invest in all countries including the investment fund manager's home country.
  • They must invest almost exclusively outside of the Americas.
  • They are always less risky than Canadian equity funds.
  • They specialize in one or two countries.

  Reveal Answer Answer: A Next Question

• Question 3

  

  What areas are addressed in the Client Relationship Model (CRM) regulation?

  • relationship disclosure, client communications, and client reporting
  • fraud prevention, relationship disclosure, and proper conduct
  • client communications, regulatory reporting, and fraud prevention
  • ethics, proper conduct, and client reporting

  Reveal Answer Answer: A Next Question

• Question 4

  

  When comparing the current yield and yield-to-maturity of a bond, which statement applies?

  • Yield-to-maturity accounts for the reinvestment of coupon payments.
  • Yield-to-maturity is based on the current market value of the bond, not the price paid.
  • Capital gains or capital losses are reflected in the current yield calculation.
  • Current yield includes in the calculation the time to maturity.

  Reveal Answer Answer: A Next Question

• Question 5

  

  At the close of business, Great Lengths Equity Fund had total assets of $135 million and total liabilities of $10 million. They had 11 million units outstanding. In addition, their current assets totalled $13 million and current liabilities were $3 million. Which of the following statements regarding Great Lengths Equity Fund’s net asset value per unit (NAVPU) is correct?

  • The NAVPU is the total liabilities divided by the number of outstanding units.
  • Current assets and current liabilities are used in the NAVPU calculation.
  • There is not enough information available to calculate the NAVPU.
  • Great Lengths Equity Fund's NAVPU is $11.36.

  Reveal Answer Answer: D Next Question

• Question 6

  

  Your client Charlie is thinking about making a large investment into the Sentinel Canadian Equity Fund on December 15. The ex-dividend date for the mutual fund is December 20. What advice would you giveCharlie to avoid the tax trap?

  • Purchase the mutual fund after the ex-dividend date of December 20.
  • Make the purchase on December 15 but choose to reinvest the distributions.
  • Make the purchase on December 15 but choose to receive the distributions in cash.
  • Purchase the mutual fund before the ex-dividend date of December 20.

  Reveal Answer Answer: A Next Question

• Question 7

  

  Saheed is a retiree who is considering splitting his pension income with his wife, Minu. Which of the following outcomes may occur if he shares his pension benefits?

  • Whether the couple saves on income tax will be dependent on Minu's marginal tax rate.
  • Minu will be exposed to a pension adjustment (PA) if she receives income from his pension.
  • This is a form of tax evasion and is therefore considered illegal based on income tax legislation.
  • Regardless of how much income each person reports, the total amount of income taxes will not change.

  Reveal Answer Answer: A Next Question

• Question 8

  

  Catarina is a Dealing Representative for Ethical Financial which represents 20 different mutual fund families. Darlene is a fund manager from one of those mutual fund families and wants to send a gift card to Catarina as a symbol of appreciation. Ethical Financial's policies and procedures manual (PPM) require that Catarina decline the gift.What method of addressing conflict of interest is being used by Ethical Financial?

  • Potential
  • Disclosure
  • Avoidance
  • Control

  Reveal Answer Answer: C Next Question

• Question 9

  

  Sagira is a Compliance Officer with WealthPath Investments Inc., a registered mutual fund dealer. Sagira routinely answers inquiries from the firm's Dealing Representatives and offers guidance.Which of the following statements would Sagira likely agree is a permitted activity for Dealing Representatives to have with clients?

  • Positions of influence are permitted if the terms and conditions of the regulator are met and the activity is approved by the dealer.
  • Borrowing from clients is prohibited, but personal loans to clients may be offered.
  • Purchasing real property from clients is permitted if there is a written agreement in place and the firm is party to the agreement.
  • Authority granted to a Dealing Representative over a client's account or finances must be documented under a Power of Attorney.

  Reveal Answer Answer: A Next Question

• Question 10

  

  Davis invested in a tactical asset allocation fund in his non-registered investment account. Distributions from the mutual fund are paid directly to Davis and not reinvested. Assuming a federal marginal tax rateof 26%, dividend gross-up rate of 38% and federal dividend tax credit rate of 15%, which type ofdistribution would result in the lowest amount of tax payable?

  • Capital Dividend
  • Capital Gain
  • Eligible Dividend
  • Interest

  Reveal Answer Answer: C Next Question

Page: 1 / 45
Total Questions: 224

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