NEW CIFC TEST DURATION & CIFC PRACTICE ONLINE

New CIFC Test Duration & CIFC Practice Online

New CIFC Test Duration & CIFC Practice Online

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Tags: New CIFC Test Duration, CIFC Practice Online, CIFC Latest Training, CIFC Trustworthy Dumps, CIFC Download

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IFSE Institute CIFC Practice Online, CIFC Latest Training

IFSE Institute Certified professionals are often more sought after than their non-certified counterparts and are more likely to earn higher salaries and promotions. Moreover, cracking the Canadian Investment Funds Course Exam (CIFC) exam helps to ensure that you stay up to date with the latest trends and developments in the industry, making you more valuable assets to your organization.

IFSE Institute Canadian Investment Funds Course Exam Sample Questions (Q78-Q83):

NEW QUESTION # 78
Anthony purchased 500 units of XYZ Fund at a price of $12.00 per unit. Near the end of the year, the mutual fund made a distribution of $1.50 per unit. The net asset value per unit (NAVPU) immediately before the distribution was $16.50. Anthony immediately reinvested his distribution at the new NAVPU. How many new units did Anthony purchase when his distribution was reinvested?

  • A. 45.50
  • B. 55.40
  • C. 52.60
  • D. 50.00

Answer: D

Explanation:
Explanation
When a mutual fund makes a distribution, its net asset value per unit (NAVPU) decreases by the amount of the distribution. Therefore, the new NAVPU of XYZ Fund after the distribution was $$(16.50 - 1.50 = 15.00)


NEW QUESTION # 79
Which of the following statements is TRUE about inflation?

  • A. Purchasing power rises as inflation rises.
  • B. Inflation results in a redistribution of income from borrowers to lenders.
  • C. Generally inflation will benefit those who are living on investment income.
  • D. An increase in the inflation rate could mean investors have less money to invest.

Answer: D

Explanation:
Explanation
Inflation is the general increase in the prices of goods and services over time. Inflation reduces the purchasing power of money, meaning that a dollar can buy less than it used to. Inflation also erodes the real value of investment income, such as interest, dividends, and capital gains. Therefore, an increase in the inflation rate could mean that investors have less money to invest, as their income and savings lose value.
References = Canadian Investment Funds Course, Unit 5: Types of Investments, Lesson 1: Economic Factors and Financial Markets, Section 5.1.2: Inflation1; CIFC prepkit, Chapter 5: Types of Investments, Question
5.1.2 2


NEW QUESTION # 80
Which of the following statements describes a feature of the Home Buyers' Plan (HBP)?

  • A. Once you are required to repay the amounts back to your RRSP. any missed or incomplete payments are subject to tax.
  • B. To qualify- as a first-time home buyer you or your spouse must never have previously owned a home
  • C. A qualifying home must be purchased by December 31 of the year of withdrawal.
  • D. If you have a spouse or common-law partner, each of you can withdraw up to JE50.000 from your registered retirement savings plans (RRSPs).

Answer: A

Explanation:
Explanation
The Home Buyers' Plan (HBP) is a program that allows eligible first-time home buyers to withdraw up to
$35,000 from their registered retirement savings plans (RRSPs) to buy or build a qualifying home without paying any tax on the withdrawal. The withdrawn amount must be repaid to the RRSP over a period of up to
15 years, starting from the second year after the withdrawal. If the required repayment for a year is not made, it is added to the taxpayer's income and subject to tax. Therefore, option B describes a feature of the HBP. The other options are not correct descriptions of the HBP. Option A is false because to qualify as a first-time home buyer, you or your spouse must not have owned and lived in another home as your principal place of residence during the four-year period before the date of withdrawal. Option C is false because a qualifying home must be purchased or built before October 1 of the year following the year of withdrawal. Option D is false because if you have a spouse or common-law partner, each of you can withdraw up to $35,000 from your RRSPs, not
$50,000. References: [Home Buyers' Plan (HBP)], [Home Buyers' Plan (HBP) - copyright.ca], [Home Buyers' Plan (HBP) | GetSmarterAboutMoney.ca]


NEW QUESTION # 81
Wilma has always used the services of a tax preparation firm to file her taxes but is skeptical that she has really benefitted. This year she plans to file her own taxes for the first time.
What would be useful for her to know?

  • A. Wilma's tax deductions permit her to reduce her tax payable dollar-for-dollar.
  • B. Wilma's marginal tax rate may be lowered when tax deductions are applied to her total income.
  • C. Wilma's top marginal tax rate will be applied to every taxable dollar when her tax return is filed.
  • D. Wilma's non-refundable tax credits may only reduce her taxable income dollar-for-dollar.

Answer: B


NEW QUESTION # 82
Iliana owns 1,000 participating preferred shares in the First Canadian Bank. Which of the following features are characteristic of her investment?

  • A. Iliana is able to vote at the annual general meeting and elect members of the board of directors.
  • B. Iliana can convert her preferred shares to common shares at a fixed price and within a specified time period.
  • C. Iliana has the right to purchase more preferred shares in the company before common shareholders.
  • D. Iliana has a right to share in the bank's net profits over and above the specified dividend rate.

Answer: A


NEW QUESTION # 83
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