IFIC EXAM QUESTIONS AND ALL
ACTUAL ANSWERS 2026/2027
UPDATED.
Current Account - Answer records exchanges of goods between Canada and foreigners
ROE RATIO - Answer PROFIT/EQUITY
EPS - Answer PROFIT/NUMBER OF COMMON SHARES OUTSTANDING
DIVIDEND YIELD - Answer Annual Dividend / Stock Price
P/E RATIO - Answer ratio of stock price to earnings per share
MEASURING PERFORMANCE - Answer ENDING NAVPS-BEGGINING NAVPS X100/BEGGINING
NAVPS
PURCHASE PRICE - Answer NAVPS/100%-SALES CHARGE
INFLATION - Answer CPI CURRENT PERIOD- CPI PREVIOUS PERIOD/CPI PREVIOUS PERIOD X
100
RETURN % - Answer CASH FLOW + ENDING VALUE - BEGINNING VALUE/BEGGINIGN VALUE X
100
CURRENT RATIO - Answer current assets - current liabilities
INTEREST RATIO COVERAGE - Answer EARNING BEFORE INTEREST AND TAXES/TOTAL INTEREST
CHARGES
GROSS PROFIT MARGIN RATIO - Answer Gross Profit/Sales
CURRENT YIELD ON BONDS - Answer ANNUAL CASH SHOW/ CURRENT MARKET PRICE X100
Direct investment - Answer Couple investing savings in a home, government building a new
highway
, Indirect investment - Answer Purchase of representational items such as stocks or mutual
funds
Capitals three characteristics - Answer It is mobile, sensitive to its environment, it is scarce
Retail investors - Answer Individual investors who buy and sell securities for their own
personal accounts, and not for another company or organization.
Institutional Investors - Answer Large organizations - such as pension funds, mutual funds, and
insurance companies - that invest their own funds or the funds of others
Derivaties - Answer Products based on or derived from an underlying security
Secondary Market - Answer Investments that have already been issued by companies or
governments
Auction Market - Answer buyers enter bids and sellers enter offers for a stock
Dealer Markets - Answer Network of dealers who trade with each other. Often called OTC
markers
Factors in GDP Growth - Answer Increase in population, increase in capital, improvement in
technology.
Phases of the business cycel - Answer Expansion, Peak, Trough, Recovery.
Output Gap - Answer the difference between actual output and potential output
demand-pull inflation - Answer increases in the price level (inflation) resulting from an excess
of demand over output at the existing price level, caused by an increase in aggregate demand
cost-push inflation - Answer When prices rise due to an increase in the cost of production.
Phillips Curve - Answer States that when unemployment is low, inflation tends to be high.
When unemployment is high, inflation tends to be low.
ACTUAL ANSWERS 2026/2027
UPDATED.
Current Account - Answer records exchanges of goods between Canada and foreigners
ROE RATIO - Answer PROFIT/EQUITY
EPS - Answer PROFIT/NUMBER OF COMMON SHARES OUTSTANDING
DIVIDEND YIELD - Answer Annual Dividend / Stock Price
P/E RATIO - Answer ratio of stock price to earnings per share
MEASURING PERFORMANCE - Answer ENDING NAVPS-BEGGINING NAVPS X100/BEGGINING
NAVPS
PURCHASE PRICE - Answer NAVPS/100%-SALES CHARGE
INFLATION - Answer CPI CURRENT PERIOD- CPI PREVIOUS PERIOD/CPI PREVIOUS PERIOD X
100
RETURN % - Answer CASH FLOW + ENDING VALUE - BEGINNING VALUE/BEGGINIGN VALUE X
100
CURRENT RATIO - Answer current assets - current liabilities
INTEREST RATIO COVERAGE - Answer EARNING BEFORE INTEREST AND TAXES/TOTAL INTEREST
CHARGES
GROSS PROFIT MARGIN RATIO - Answer Gross Profit/Sales
CURRENT YIELD ON BONDS - Answer ANNUAL CASH SHOW/ CURRENT MARKET PRICE X100
Direct investment - Answer Couple investing savings in a home, government building a new
highway
, Indirect investment - Answer Purchase of representational items such as stocks or mutual
funds
Capitals three characteristics - Answer It is mobile, sensitive to its environment, it is scarce
Retail investors - Answer Individual investors who buy and sell securities for their own
personal accounts, and not for another company or organization.
Institutional Investors - Answer Large organizations - such as pension funds, mutual funds, and
insurance companies - that invest their own funds or the funds of others
Derivaties - Answer Products based on or derived from an underlying security
Secondary Market - Answer Investments that have already been issued by companies or
governments
Auction Market - Answer buyers enter bids and sellers enter offers for a stock
Dealer Markets - Answer Network of dealers who trade with each other. Often called OTC
markers
Factors in GDP Growth - Answer Increase in population, increase in capital, improvement in
technology.
Phases of the business cycel - Answer Expansion, Peak, Trough, Recovery.
Output Gap - Answer the difference between actual output and potential output
demand-pull inflation - Answer increases in the price level (inflation) resulting from an excess
of demand over output at the existing price level, caused by an increase in aggregate demand
cost-push inflation - Answer When prices rise due to an increase in the cost of production.
Phillips Curve - Answer States that when unemployment is low, inflation tends to be high.
When unemployment is high, inflation tends to be low.
