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CISI Investment Funds in Canada (IFC) Exam Sample Questions (Q277-Q282):

NEW QUESTION # 277
What variable needs to decrease on a company's statement of changes in equity for its retained earnings to increase?

A. Cost of sales.
B. Taxes paid.
C. Interest expenses.
D. Dividends paid.

Answer: D

NEW QUESTION # 278
What type of benefit plan has a final benefit that is dependent on the investment returns within the plan?

A. Final average plan
B. Defined contribution plan
C. Flat benefit plan
D. Career average plan

Answer: B

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
In a defined contribution plan, the retirement benefit depends on the performance of the investments within the plan, also known as a money-purchase plan. The feedback from the document states:
"In a defined contribution plan, also known as a money-purchase plan, the eventual benefits at retirement will be based on how the contributions were invested within the plan." Reference:Chapter 6 - Tax and Retirement PlanningLearning Domain:The Know Your Client Communication Process

NEW QUESTION # 279
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?

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

Answer: A

Explanation:
According to the Canadian Investment Funds Course, a registered retirement income fund (RRIF) is a type of registered plan that provides a stream of income in retirement. A RRIF can be opened at any age, but it must be established by the end of the year the annuitant turns 71. A RRIF cannot accept any contributions, but it can receive transfers from other registered plans, such as RRSPs, PRPPs, RPPs, or other RRIFs. A RRIF has no maximum withdrawal limit, meaning that the annuitant can withdraw any amount from the plan at any time. However, a RRIF has a minimum withdrawal requirement, which is calculated based on the annuitant's age or the age of their spouse or common-law partner. The minimum withdrawal must be paid out in the year following the year the RRIF is opened and every year thereafter. The minimum withdrawal is taxable as income in the year of receipt.
Therefore, the correct answer is C. Gregory's account will be subjected to no maximum withdrawal limit but to an annual minimum withdrawal.
1: Canadian Investment Funds Course - IFSE Institute 2 (Unit 9: Retirement)

NEW QUESTION # 280
A mutual fund sales representative is asked to make a presentation to an investment club. During the presentation, he discusses personal experiences of a questionable nature. What aspect of Professionalism is relevant to this situation?

A. Solicitation of client business
B. Personal financial dealings with clients
C. Other personal endeavors
D. Conduct of personal business

Answer: C

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Discussing questionable personal experiences in a public setting can harm the representative's professional image, relating to the aspect of other personal endeavors. The feedback from the document states:
"The representative must take care to ensure that any publicly visible activity in which he participates is conducted responsibly and moderately so as not to present an unfavorable public image." Reference:Chapter 18 - Applying Ethical Standards to What You Have LearnedLearning Domain:Ethics, Compliance and Mutual Fund Regulations

NEW QUESTION # 281
Which statement best describes one of the main differences between short and long transactions?

A. Investors using long transactions anticipate a price increase in the security
B. Short sales must result in a decline in the price of the stock that is sold short
C. In a long transaction, the investor must pay the broker the cost of repurchasing the shares
D. Short transactions are more common than long transactions

Answer: A

Explanation:
Long transactions involve buying a security with the expectation that its price will increase, while short transactions involve borrowing and selling a security with the hope of buying it back at a lower price. The feedback from the document states:
"Short transactions are a common feature of the capital markets, although not as common as long transactions
- the transactions taken by investors who anticipate a price increase in the security. Investors who short sell stocks must first borrow the shares. They must also declare their short transactions." Reference: Chapter 7 - Types of Investment Products and How They Are TradedLearning Domain:
Understanding Investment Products and Portfolios

NEW QUESTION # 282
......

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Quiz 2025 CISI Reliable IFC Certification Test Questions

IFC Instant Discount & Top IFC Exam Dumps

CISI Investment Funds in Canada (IFC) Exam Sample Questions (Q277-Q282):

2025 Pass-Sure IFC Certification Test Questions | 100% Free IFC Instant Discount

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