IFIC (Unit 1 Quiz) UPDATED ACTUAL
Exam Questions and CORRECT Answers
Mutual funds sales are regulated (in Canada) by provincial and federal organizations. -
CORRECT ANSWER - _____ _______ sales are regulated (in Canada) by provincial and
federal organizations.
dealing representative are professionals who protect the interests of the investing public and
industry participants. - CORRECT ANSWER - _________ __________ are professionals
who protect the interests of the investing public and industry participants.
Each provincial monitoring body is referred to as a securities commission (or securities
regulator) - CORRECT ANSWER - Each provincial monitoring body is referred to as a
securities _______ (or securities regulator)
Two (2) levels of monitoring bodies:
- 1: Provincial level (securities regulators/commission, dealing reps)
- 2: National level (CSA, MFDA, OBSI, IIROC, OSFI) - CORRECT ANSWER - Two (2)
levels of monitoring bodies
Securities regulator/commission mandate:
- Protect investors from fraudulent/unfair practices
- Promote fair capital markets
- Promote confidence in capital markets
- Reduce risk (systemic) - CORRECT ANSWER - Securities _______/______ mandate:
Protect investors from fraudulent/unfair practices
Promote fair capital markets
Promote confidence in capital markets
Reduce risk (systemic)
, Securities regulator/commission responsibilities:
- Establish strict standards for disclosure of info before offering new securities to the public.
- Review/approve mutual funds before they are put for sale in their province.
- Register companies and individuals who sell securities
- Register companies/individuals who manage mutual fund portfolios
- Enforce regulations that govern the buying and selling of securities
- Investigate investor complaints against companies (and their employees)
- Discipline companies/individuals who violate the regulations - CORRECT ANSWER -
Securities _____/______ responsibilities:
- Establish strict standards for disclosure of info before offering new securities to the public.
- Review/approve mutual funds before they are put for sale in their province.
- Register companies and individuals who sell securities
- Register companies/individuals who manage mutual fund portfolios
- Enforce regulations that govern the buying and selling of securities
- Investigate investor complaints against companies (and their employees)
- Discipline companies/individuals who violate the regulations
Each Securities Regulator/commission has the responsibility to grand or revoke registration of
individuals/companies who sell securities and manage mutual fund portfolios - CORRECT
ANSWER - Each Securities Regulator/commission has the responsibility to _____ or
______ registration of individuals/companies who sell securities and manage mutual fund
portfolios
Dealing Representative (me) responsibilities:
- Register with my securities regulator
- Conduct business under the Securities Regulator (Commission) - CORRECT ANSWER -
____ _________ (me) responsibilities:
- Register with my securities regulator
- Conduct business under the Securities Regulator (Commission) rules
Exam Questions and CORRECT Answers
Mutual funds sales are regulated (in Canada) by provincial and federal organizations. -
CORRECT ANSWER - _____ _______ sales are regulated (in Canada) by provincial and
federal organizations.
dealing representative are professionals who protect the interests of the investing public and
industry participants. - CORRECT ANSWER - _________ __________ are professionals
who protect the interests of the investing public and industry participants.
Each provincial monitoring body is referred to as a securities commission (or securities
regulator) - CORRECT ANSWER - Each provincial monitoring body is referred to as a
securities _______ (or securities regulator)
Two (2) levels of monitoring bodies:
- 1: Provincial level (securities regulators/commission, dealing reps)
- 2: National level (CSA, MFDA, OBSI, IIROC, OSFI) - CORRECT ANSWER - Two (2)
levels of monitoring bodies
Securities regulator/commission mandate:
- Protect investors from fraudulent/unfair practices
- Promote fair capital markets
- Promote confidence in capital markets
- Reduce risk (systemic) - CORRECT ANSWER - Securities _______/______ mandate:
Protect investors from fraudulent/unfair practices
Promote fair capital markets
Promote confidence in capital markets
Reduce risk (systemic)
, Securities regulator/commission responsibilities:
- Establish strict standards for disclosure of info before offering new securities to the public.
- Review/approve mutual funds before they are put for sale in their province.
- Register companies and individuals who sell securities
- Register companies/individuals who manage mutual fund portfolios
- Enforce regulations that govern the buying and selling of securities
- Investigate investor complaints against companies (and their employees)
- Discipline companies/individuals who violate the regulations - CORRECT ANSWER -
Securities _____/______ responsibilities:
- Establish strict standards for disclosure of info before offering new securities to the public.
- Review/approve mutual funds before they are put for sale in their province.
- Register companies and individuals who sell securities
- Register companies/individuals who manage mutual fund portfolios
- Enforce regulations that govern the buying and selling of securities
- Investigate investor complaints against companies (and their employees)
- Discipline companies/individuals who violate the regulations
Each Securities Regulator/commission has the responsibility to grand or revoke registration of
individuals/companies who sell securities and manage mutual fund portfolios - CORRECT
ANSWER - Each Securities Regulator/commission has the responsibility to _____ or
______ registration of individuals/companies who sell securities and manage mutual fund
portfolios
Dealing Representative (me) responsibilities:
- Register with my securities regulator
- Conduct business under the Securities Regulator (Commission) - CORRECT ANSWER -
____ _________ (me) responsibilities:
- Register with my securities regulator
- Conduct business under the Securities Regulator (Commission) rules
