IFSE - CIFC - Unit 1 exam solved 100%

IFSE - CIFC - Unit 1 exam solved 100% National Instruments are developed through? -Correct Answer-CSA With which organization must mutual fund dealers (outside of Quebec) register? -Correct Answer-MFDA Which organization operates the Investor Protection Corporation (IPC)? -Correct Answer-MFDA Registration Requirements and Exemptions provides the harmonized registration rules for the registration of firms and individuals with the provincial or territorial securities commissions -Correct Answer-NI 31-103 Mutual Fund Prospectus Disclosure ensures that mutual funds disclose the info that investors should consider when deciding whether to invest, or remain invested, in a fund. It prescribed the content of key disclosure documents including the simplified prospectus, the fund facts document, and the annual info form -Correct Answer-NI 81-101 Mutual Funds is the main instrument regulating mutual funds. It regulates how mutual funds are managed, bought and sold -Correct Answer-NI 81-102 Mutual Fund Sales Practices ensures that mutual funds are sold on the basis of what is suitable for, and in the best interests of, investors. It sets minimum standards of conduct to be followed by managers, principal distributors, registered dealers and dealing representatives when distributing mutual funds -Correct Answer-NI 81-105 Proceeds of Crime (Money Laundering) and Terrorist Financing Act - combats the laundering and and the financing of terrorist activities -Correct Answer-PCMLTFA Financial Transactions and Reports Analysis Centre of Canada - Canada's financial intelligence unit -Correct Answer-FINTRAC $10,000 or more -Correct Answer-What is considered a large cash transaction? 1. Opening a non-reg account 2. Client conducts large cash transaction if you don't recognize the client 3. Client conducts or attempts to conduct suspicious transaction 4. An individual is authorized to give instructions above which you have to keep a record -Correct Answer-When do you need to confirm client ID? 1. Head of state or government 2. Member of the executive council of government or legislature 3. Deputy minister (or equivalent) 4. Ambassador or ambassador's attaché or councillor 5. Military general (or higher rank) 6. President of a state-owner company or bank 7. Head of government agency 8. Judge 9. Leader or president of a political party in a legislature -Correct Answer-What are considered Politically Exposed Foreign Persons?