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Free CIFC Exam Braindumps
Canadian Investment Funds Course Questions 66–70 (page: 15)

Updated On: 23-Feb-2026
Page 15 of 46
PDF with 224 Questions

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?

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

Answer(s): A



Your clients, Jessica and Ken, want to buy a house next year. You recommend a money market fund. How do you think a money market fund will help Jessica and Ken reach their goal?

  1. Money market funds are safe investments because their net asset value per unit does not usually fluctuate.
  2. Money market funds provide high returns without risking the capital invested.
  3. Money market funds pay income weekly which can be automatically reinvested.
  4. Money market funds provide investors a guaranteed fixed rate of return.

Answer(s): A



Pierre wants to discuss the merits of a specific mutual fund with his Dealing Representative, Simone. There are no trailer fees associated with this fund. Simone is familiar with the mutual fund that Pierre is referring to, which is not offered by her dealer. They schedule an appointment to further discuss his investment portfolio.

Which behaviour from Simone is ethical?

  1. Simone's ability to keep her knowledge current on competitors' investment offerings shows that she is putting her client's interest first.
  2. Knowing Pierre does not like that her dealer's funds have trailer fees, she chooses not to discuss the relationship between trailer fees and MER while making comparisons.
  3. When comparing her dealer's own mutual funds to the one Pierre discovered, Simone emphasizes the importance of similar net rates of return and minimizes the significance of management expense ratios (MERs).
  4. While comparing Fund Facts of the different mutual funds, Simone points out that not only are the fund management expenses different but so are the investor profiles for each fund.

Answer(s): D



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?

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

Answer(s): C



You are meeting a potential client, William, for the first time. He is a high net worth individual and you are keen to get his business.
Which of the following would you consider the most important to create an impressive first impression on your potential client?

  1. your body language
  2. volume of your voice
  3. your words
  4. tone of your voice

Answer(s): A



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