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CISI Investment Funds in Canada (IFC) Exam Sample Questions (Q444-Q449):

NEW QUESTION # 444
All else being equal, which factor impacts fixed-income duration?

A. Tracking error
B. Maturity term
C. Dividend yield
D. Leverage risk

Answer: B

NEW QUESTION # 445
Fund A has a 5-year average return of 10% and a standard deviation of 5%. Fund B has a 5-year average return of 8% and a standard deviation of 2%. Select the most accurate statement about Funds A and B.

A. Fund A's returns have ranged from 5% to 10%
B. Fund B's lowest return is lower than Fund A's lowest return
C. Fund B is less risky than Fund A
D. Fund A will always provide a higher return than Fund B

Answer: C

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
A lower standard deviation indicates lower volatility and thus lower risk. Fund B, with a standard deviation of
2%, is less risky than Fund A, with a standard deviation of 5%. The feedback from the document states:
"We can find the probable range of returns as follows: Average Return + Standard deviation = Positive outcome. Average Return - Standard deviation = Negative outcome. In any given year Fund A, which has the higher standard deviation, could fluctuate much more widely, making it less attractive as an investment, even over the long-term. Volatility is the most common measure of risk." Reference:Chapter 8 - Constructing Investment PortfoliosLearning Domain:Understanding Investment Products and Portfolios

NEW QUESTION # 446
The portfolio manager of the High Income Fund has 90% of the mutual fund invested in bonds. What is a reason for holding bonds in a mutual fund portfolio?

A. Coupon payments paid by bonds from large Canadian corporations are eligible for preferential tax treatment.
B. Bonds provide regular interest income which can be flowed out directly to investors.
C. Bonds produce regular capital gain payments which result in preferential tax treatment for unitholders.
D. To increase the dividend yield and credit quality of the mutual fund

Answer: B

Explanation:
One of the main reasons for holding bonds in a mutual fund portfolio is to generate regular interest income, which can be distributed to the investors as cash or reinvested in more units of the fund. Bonds are debt securities that pay a fixed or variable rate of interest, called the coupon, to the bondholders until the maturity date, when the principal amount is repaid. The interest income from bonds can provide a steady source of cash flow for the fund and its investors, especially in low-interest-rate environments or when other sources of income, such as dividends or capital gains, are scarce or uncertain

NEW QUESTION # 447
Your soon-to-be-retired client has accumulated $700,000 in a mutual fund investment. He has consulted with you with respect to systematic withdrawal plans. His other sources of income in retirement are uncertain. He is not interested in leaving a legacy at his death. Which plan would best suit his needs?

A. Annuity
B. Fixed-dollar withdrawal plan
C. Life withdrawal plan
D. Ratio withdrawal plan

Answer: A

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
An annuity provides a steady income stream until the client's death, suitable for someone with uncertain income sources and no interest in leaving a legacy. The feedback from the document states:
"The client needs a steady source of income from his investment. This rules out a ratio withdrawal plan and a life withdrawal plan. With a fixed-dollar withdrawal plan his capital could be exhausted before he dies. He should choose an annuity that will pay a fixed amount every year until his death. If he lives beyond the guaranteed term, the annuity will cease with his death, but this fact is not important as he does not wish to leave a legacy." Reference:Chapter 16 - Mutual Fund Fees and ServicesLearning Domain:Evaluating and Selecting Mutual Funds

NEW QUESTION # 448
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. $37,888
B. $35,859
C. $42,861
D. $36,698

Answer: A

Explanation:
A is correct because Francis will receive $37,888 in Canadian dollars when he redeems the Funds. This is calculated by dividing the current proceeds from the redemption in US dollars by the current CAD/USD exchange rate and rounding to the nearest dollar. That is,

NEW QUESTION # 449
......

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CISI IFC Accurate Answers - Pass IFC Test Guide

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CISI Investment Funds in Canada (IFC) Exam Sample Questions (Q444-Q449):

IFC test torrent, exam questions and answers for Investment Funds in Canada (IFC) Exam

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