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IFSE Institute CIFC Exam Questions
Canadian Investment Funds Course (Page 18 )

Updated On: 28-Feb-2026
Page 9 of 46
PDF with 224 Questions

Pierre buys a call option on a stock.
What is the implication of this transaction?

  1. Pierre has the right to buy the stock if he exercises the option.
  2. Pierre is obligated to sell the stock if the option is exercised.
  3. Pierre has the right to sell the stock if he exercises the option.
  4. Pierre is obligated to buy the stock if the option is exercised.

Answer(s): A



Your clients, Philip and Helen, have a disabled son, Alex, age 22. They want to set up a registered disability savings plan (RDSP) for Alex and have asked you for some information.
Which statement is TRUE?

  1. Philip and Helen's contributions are refundable to them.
  2. There is no annual or lifetime maximum limit on contributions.
  3. Alex must quality for the disability tax credit.
  4. Philip and Helen's contributions are tax-deductible.

Answer(s): C



Karen's know your client (KYC) profile corresponds to someone who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She watches the daily movements of the Toronto Stock Exchange (TSX) and wants a mutual fund that will closely match what she sees.

What kind of mutual fund would be BEST for her?

  1. Canadian small capitalization equity fund
  2. Canadian equity index fund
  3. Canadian dividend fund
  4. Canadian bond fund

Answer(s): B



Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?

  1. Usually the market price of an ETF is the net asset value per unit (NAVPU) of the Fund on that day.
  2. Investors may sell their ETFs in the stock market or redeem them through the Fund at the NAVPU of the day.
  3. ETFs have lower MERs compared to mutual funds.
  4. All ETFs are actively managed.

Answer(s): C



Eleanora receives a $500 eligible Canadian dividend from her mutual fund. Her federal marginal tax rate for the year is 29%. Assuming the enhanced gross-up of 38% and a federal dividend tax credit of 15.02%, how much federal tax will she pay on her dividend?

  1. $69.90
  2. $189.16
  3. $96.46
  4. $115.40

Answer(s): C






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