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CISI IFC Exam Syllabus Topics:

TopicDetails
Topic 1
  • The Modern Mutual Fund: This domain examines mutual fund structures, types, and operations, covering equity, fixed income, balanced, and specialty funds, their legal structures, pricing mechanisms, purchase processes, and associated fees.
Topic 2
  • Understanding Alternative Managed Products: This domain introduces investment products beyond traditional mutual funds, including ETFs, segregated funds, and hedge funds, examining their features, structures, benefits, risks, and regulatory treatment.
Topic 3
  • The Know Your Client Communication Process: This domain focuses on gathering and documenting client information to ensure suitable recommendations, including understanding financial situations, investment objectives, risk tolerance, and maintaining ongoing communication with clients.
Topic 4
  • Ethics, Compliance, and Mutual Fund Regulation: This domain addresses ethical standards and regulatory requirements for advisors, covering professional conduct, compliance obligations, conflicts of interest, disclosure requirements, and rules established by regulators and self-regulatory organizations.

Reference: https://www.csi.ca/en/learning/courses/ifc/exam-credits

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CISI Investment Funds in Canada (IFC) Sample Questions:

Stan, a portfolio manager, is looking at two steel companies as potential investments. Truesteel Inc. has a current ratio of 2:1 while Strongco Ltd. has a current ratio of 0.8:1.
What could this information indicate?

  • A. The stock market is more optimistic about the prospects for Truesteel than Strongco.
  • B. Stronqco is reiving less on debt financing than Truesteel.
  • C. It appears that Truesteel is more profitable than Strongco.
  • D. Truesteel is better able to meet its short-term financial obligations than Strongco.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Francis wants to redeem his US Asset Allocation Fund as he needs the money for a down payment for a home purchase. The current proceeds from the redemption are USD $27,859, and the current CAD/USD exchange rate is 0.7353.
How much will Francis receive in Canadian dollars when he redeems the Funds? Please round your answer to the nearest dollar.

  • A. $36,698
  • B. $37,888
  • C. $35,859
  • D. $42,861
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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What is the maximum yearly CESG available to a family earning $150,000 annually?

  • A. $500
  • B. $100
  • C. $550
  • D. $600
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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 give Charlie to avoid the tax trap?

  • A. Make the purchase on December 15 but choose to receive the distributions in cash.
  • B. Purchase the mutual fund after the ex-dividend date of December 20.
  • C. Make the purchase on December 15 but choose to reinvest the distributions.
  • D. Purchase the mutual fund before the ex-dividend date of December 20.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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You ask a new client, Brad, " what are your financial obligations and what are your assets? " What information are you trying to gather in order to comply with the know your client (KYC) rule?

  • A. marginal tax rate
  • B. income and cash-flow
  • C. tax consequences
  • D. net worth
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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