CIFC VALID TEST PASS4SURE & TEST CIFC PASSING SCORE

CIFC Valid Test Pass4sure & Test CIFC Passing Score

CIFC Valid Test Pass4sure & Test CIFC Passing Score

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IFSE Institute CIFC Exam Syllabus Topics:

TopicDetails
Topic 1
  • Mutual Funds Administration: This section of the exam measures the skills of operations specialists and covers the processes that support the day-to-day functioning of mutual funds. It includes trading, recordkeeping, pricing, and compliance reporting.
Topic 2
  • Making Recommendations & Case Study: This section of the exam measures the skills of client advisors and covers the practical application of investment knowledge through real-world client scenarios. It involves synthesizing client information to make suitable investment recommendations.
Topic 3
  • 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 4
  • Registrant Responsibilities: This section of the exam measures the skills of investment advisors and covers the obligations and ethical duties that come with being a registered professional. It includes understanding know-your-client procedures, disclosure rules, and the importance of acting in clients’ best interests.
Topic 5
  • 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 6
  • Types of Mutual Funds: This section of the exam measures the skills of fund sales representatives and covers the structure, benefits, and objectives of different mutual fund categories. It includes equity, fixed income, balanced, index, and specialty funds.

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IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q209-Q214):

NEW QUESTION # 209
Which of the following Dealing Representatives has fulfilled their "Know Your Product" obligation?

  • A. Rehan reviews the features of the Hedge Fund that her client, Georgi, wants to buy. When Rehan explains the product to Georgi, she tells him that the Hedge Fund has a lock-up period and he will not be able to redeem the fund if he needs the money.
  • B. Godfried opens an account for his new client, Nadia. When the investments from her previous dealer are transferred in, Godfried sells the investments. Nadia becomes very upset when she is charged $4,329 in redemption fees that neither she nor Godfried expected.
  • C. Otev meets with his client, Saeed. Saeed's brother invested in the Navigator Eastern Asia Fund and it provided great returns. When Saeed asks Otev if the Navigator Fund or something similar is available through his firm, Otev doesn't know and doesn't look it up.
  • D. Tevy recommends the firm's in-house Principal Protected Note (PPN) to her client Mei. Since Mei is seeking safety and liquidity, Tevy determines that the PPN is a good product for her because it's on the firm's list and the principal is guaranteed.

Answer: A

Explanation:
Explanation
The "Know Your Product" obligation requires that Dealing Representatives understand all the products they purchase, sell or recommend for their clients, including their structure, features, risks, costs and suitability.
Rehan has fulfilled this obligation by reviewing the features of the Hedge Fund and explaining them to Georgi, who may not be aware of the lock-up period and its implications. The other Dealing Representatives have failed to fulfill their obligation by either not knowing or not disclosing important information about the products they deal with.
References: Canadian Investment Funds Course, Chapter 7: Know Your Product1


NEW QUESTION # 210
Reagan has accepted a role to be the Chief Revenue Officer of a charitable organization. She is currently registered as a Dealing Representative for Sunshine Financial Services.
Which of the following would apply to her?

  • A. The dealer will closely monitor her sales activities to ensure any clients from the charity are not getting a discount on potential fees.
  • B. Holding both positions at the same time is a violation of securities industry rules and regulations .
  • C. Reagan is not required to inform her dealer of this outside activity if none of her colleagues from the charity become clients.
  • D. The regulator will limit her from providing financial services to anyone associated with the charity.

Answer: C

Explanation:
Explanation
This answer is correct because according to FINRA Rule 3270, a registered representative must notify their firm in writing of any outside business activity (OBA) that involves compensation or the reasonable expectation of compensation from another person, or that may be viewed by customers or the public as part of the member's business. However, if the OBA does not involve any of these factors, then the notification is not required. In this case, Reagan's role as the Chief Revenue Officer of a charitable organization may not involve any compensation or any connection to her securities business, especially if none of her colleagues from the charity become clients. Therefore, she is not required to inform her dealer of this outside activity.
References = Outside Business Activities and Private Securities Transactions, Selling Away in Securities:
Understanding FINRA Rule 3270


NEW QUESTION # 211
Dakota is a Dealing Representative with Harvest Wealth Inc., a mutual fund dealer. Dakota starts a marketing campaign to contact prospective new clients and increase sales with existing clients. Which of the following CORRECTLY describes activities that Dakota can engage in under her marketing campaign?

  • A. Dakota can send promotional emails to clients who have opted in to receive commercial electronic messages (CEMs).
  • B. Dakota can make telemarketing calls to clients who have opted in to receive commercial electronic messages (CEMs).
  • C. Dakota can send promotional emails to clients who have opted into Harvest Wealth's Do Not Call List
  • D. Dakota can make telemarketing calls to clients who are listed on the National Do Not Call List

Answer: A


NEW QUESTION # 212
Which of the following statements best describes dollar-cost averaging?

  • A. It is making lump-sum purchases when the market price for a mutual fund is low.
  • B. It is buying a set dollar amount of a mutual fund on a regular basis
  • C. It is the strategy of purchasing a set number of units of a mutual fund on a regular basis.
  • D. It is a type of systematic withdrawal program.

Answer: B

Explanation:
Explanation
Dollar-cost averaging is the practice of systematically investing equal amounts of money at regular intervals, regardless of the price of a security. This strategy can reduce the overall impact of price volatility and lower the average cost per share. By buying regularly in up and down markets, investors buy more shares at lower prices and fewer shares at higher prices. Dollar-cost averaging aims to prevent a poorly timed lump sum investment at a potentially higher price. References: What Is Dollar-Cost Averaging? - Investopedia


NEW QUESTION # 213
Sheldon is a 25 year old graphic designer. He has just started working and saves regularly. Apart from his regular salary he also earns extra money from freelancing after office hours and during weekends. His earnings from his freelance work are sufficient for meeting his living expenses. He saves the entire amount of his salary. He has heard about lifecycle funds but has come to you for additional information.
Which of the following statement about lifecycle funds is TRUE?

  • A. The asset allocation of a lifecycle fund is set based on the age demographic of its unitholders and remains the same for the time frame of the lifecycle fund.
  • B. All lifecycle funds start with equal allocations to cash, fixed income and equities before being re-balanced.
  • C. Investor income is the only basis for changing the asset allocation of a lifecycle mutual fund.
  • D. As Sheldon gets older, the life cycle asset allocation changes from more risky to less risky.

Answer: D

Explanation:
Explanation
A lifecycle fund is a type of asset-allocation fund that automatically adjusts its portfolio composition according to the investor's age and risk tolerance. As the investor gets closer to their retirement date or target date, the fund shifts from more risky assets, such as stocks, to less risky assets, such as bonds and cash. This is done to reduce the volatility and preserve the capital of the fund as the investor approaches their withdrawal phase. Therefore, statement A is true about lifecycle funds. Statement B is false because different lifecycle funds may have different initial allocations depending on their target dates and risk profiles. Statement C is false because the asset allocation of a lifecycle fund changes over time according to a predetermined glide path that gradually reduces risk. Statement D is false because investor income is not the only basis for changing the asset allocation of a lifecycle fund; other factors, such as age, risk tolerance, investment objectives, and time horizon, are also considered. References: Life-Cycle Fund: How They Work, Examples, Lifecycle Funds | The Thrift Savings Plan (TSP), What Is a Lifecycle Fund? | The Motley Fool


NEW QUESTION # 214
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