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Free CIFC Exam Braindumps
Canadian Investment Funds Course Questions 106–110 (page: 23)

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

Pippa purchased a 15-year bond with a face value of $5,000 and a 7% coupon rate at the time of issuance. The bond is due to mature later this year. The general interest rate climate remained stable for the first 13 years of the bond's term. However, especially over the past 18 months, both inflation and general interest rates have increased more than expected.
What is Pippa likely to experience from her bond?

  1. With the unanticipated rise in inflation, Pippa will benefit from a higher real rate of return as well.
  2. Due to inflation, Pippa will experience a capital loss once her bond reaches maturity.
  3. The return of investment capital will have lower purchasing power than prior to investing.
  4. With capital appreciation at 7% annually, Pippa's capital gain will be reduced by inflation at maturity.

Answer(s): C



Last year at age 70, Gregory opened a registered retirement income fund (RRIF). Recently, Gregory unexpectedly received a large cash gift and presently does not need to depend on any payments from his RRIF. He contacts his financial advisor Eric for guidance.
Which of the following statements by his financial advisor would be CORRECT?

  1. Periodic contributions to a RRIF are permitted until Gregory reaches the age of 71.
  2. Withdrawals become mandatory within the first year of the plan being started.
  3. Gregory's account will be subjected to no maximum withdrawal limit but to an annual minimum withdrawal.
  4. Gregory must have attained the minimum age of 71 to open a RRIF.

Answer(s): C



Which of the following formulas correctly shows how taxable income is calculated?

  1. gross income less tax credits
  2. the sum of earned income and investment income
  3. total income less tax deductions
  4. the sum of income from all sources

Answer(s): C



The owners of Underground Airways Ltd. want to take their privately owned corporation public through an initial public offering (IPO). They are speaking to a specialist from an investment dealer to determine whether it would be advisable to become listed on a stock exchange or the over-the-counter (OTC) market.
In comparing the two options, which of the following considerations is TRUE?

  1. Underground would be subject to less stringent listing requirements if they chose the stock exchange as compared to the OTC market.
  2. If Underground chose to list on the OTC market, there would be no secondary market available for investors.
  3. Underground would still be directly involved in the trading of their shares on either market.
  4. A stock exchange listing would provide Underground with greater market exposure and public confidence than listing on the OTC market.

Answer(s): D



Your client Jerry's asset mix is deviating from the original target asset mix because the stock market has had strong performance. Equities are now over-weighted in Jerry's account. The original target asset mix is still valid since Jerry's situation has not changed. He is invested in several bond and equity mutual funds.
What should you do?

  1. advise him to change his know your client (KYC) form to reflect more growth
  2. advise him to do nothing since equities could outperform bonds in the next year
  3. advise him to sell a portion of assets invested in bond funds and reinvest the proceeds into equity funds
  4. advise him to sell a portion of assets invested in equity funds and reinvest the proceeds into bond funds

Answer(s): D



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