Investment Funds in Canada (IFIC) -
Chapter 1 questions well answered
It's an investment vehicle that pools contributions from investors and invests these proceeds
into a variety of securities, including stocks, bonds, and money market instruments. - correct
answer ✔✔What is a mutual fund?
- Professionally managed
- Diversified portfolio of securities
- Low cost - correct answer ✔✔What are the characteristics of Mutual Funds?
- Professional development
- Level of competence
- Ethical manner
- Regulators' responsibility - correct answer ✔✔What is the value in licensing?
- Legal
- Ethical
- Professional - correct answer ✔✔Types of Responsibility
Make legal responsibilities clear, an investment is suitable if it fits the client's goals, financial
condition, personal circumstances, investment knowledge and risk tolerance. All provincial
securities act make this legal responsibility clear. - correct answer ✔✔Legal responsibility
You must place your client's needs before your own needs, such as reaching a sales target or
those of your dealer. - correct answer ✔✔Ethical Responsibility
Chapter 1 questions well answered
It's an investment vehicle that pools contributions from investors and invests these proceeds
into a variety of securities, including stocks, bonds, and money market instruments. - correct
answer ✔✔What is a mutual fund?
- Professionally managed
- Diversified portfolio of securities
- Low cost - correct answer ✔✔What are the characteristics of Mutual Funds?
- Professional development
- Level of competence
- Ethical manner
- Regulators' responsibility - correct answer ✔✔What is the value in licensing?
- Legal
- Ethical
- Professional - correct answer ✔✔Types of Responsibility
Make legal responsibilities clear, an investment is suitable if it fits the client's goals, financial
condition, personal circumstances, investment knowledge and risk tolerance. All provincial
securities act make this legal responsibility clear. - correct answer ✔✔Legal responsibility
You must place your client's needs before your own needs, such as reaching a sales target or
those of your dealer. - correct answer ✔✔Ethical Responsibility
