IFSE unit 1&2 Quiz with Answers Graded A+
CSA-canadian securities administrators answer - Who's mandate is to protect inv fr unfair,
improper or fraud practices to foster fair and efficient cap markets to reduce risks to market
integrity and inv confidence
Security Regulator answer - What reg body registers the co's and individuals that manage
mutual fund portfolios established in their province or territory
MFDA answer - Who is empowered by securities regulators to admit members, perform
compliance reviews and enforce rules
IPC Investors Protection Corp answer - They provides customer protection (to a max of $1mil)
for eligible losses in the event of an MFDA members insolvency
OBSI Ombudsman banking services and investments answer - An independent and impartial
org intended to resolve disputes between participating banking services and inv firms and their
clients
OBSI answer - They can settle claims up to $350k
OBSI answer - All MFDA members must also be members of this regulatory body
IIROC Investment industry regulatory organization of Canada answer - Their objective is to
create a favourable environment for the investing public
OSFI office of the superintendent of financial institutions Canada answer - Their mandate is to
protect the rights and interests of depositors,policyholders, PP members,and creditors of fin
inst, contribute to public confidence in the can fin system
,Provincial and territorial securities commission answer - This is a responsibility of who?
Providing licensing and continuing education courses for MF dealing reps
CSA answer - The national instruments where developed through?
PCMLTFA answer - The act to combat the laundering of proceeds of crime, and the financing of
terrorist activities
FINTRAC answer - Collects, analyzes and discloses information to help detect and prevent
money laundering, and the financing of terrorist activities in Canada and abroad
Privacy act answer - Law that imposes obligations on federal government departments and
agencies to respect privacy rights To Fed Gov Bodies only
PIPEDA answer - Canada's Private sector privacy law
18months answer - After how long of not doing business with a client are you not allowed to
call them is they are on the DNCL
FINTRAC answer - You are required to report completed and attempted suspicious transactions
to?
MFDA answer - Who is a self regulatory org that regulates the operations, standards of practice
and business conduct of Canadian MF dealers
MFDA answer - This is a mandate of who? Performing compliance reviews for the distribution
side of the Canadian MF industry
, CSA answer - It is a forum for Canada's provincial securities regulatory authority
COO Chief Compliance Officer answer - Is responsible for establishing and maintaining
compliance policies and procedures, monitoring and assessing compliance, submitting annual
report to BOfD
UDP Ultimate Designated Person answer - Must supervise the firms compliance activities, and
promote compliance with in the firm
Compliance Department answer - Their main role is to ensure that all individuals with in the
firm comply with regulations contained in the MFDAs rules and policies, and the firms policies
and procedures manual
NI 31-103 answer - What NI contains the rules pertaining to relationship disclosure
NAAF New account application form answer - Evidence that the relationship disclosure has
been provided to client is in what form?
Any written communication not advertisement or sales comm answer - What defines client
communications
At least once every three months answer - How often must account statements be sent?
Excessive trading answer - This is a practice of recommending trades that provide little or no
benefit to the client has no purpose other than generating commission for the dealing rep
Must get written consent fr client answer - What must you do before enlisting a specialist to
provide services to your. Lient
CSA-canadian securities administrators answer - Who's mandate is to protect inv fr unfair,
improper or fraud practices to foster fair and efficient cap markets to reduce risks to market
integrity and inv confidence
Security Regulator answer - What reg body registers the co's and individuals that manage
mutual fund portfolios established in their province or territory
MFDA answer - Who is empowered by securities regulators to admit members, perform
compliance reviews and enforce rules
IPC Investors Protection Corp answer - They provides customer protection (to a max of $1mil)
for eligible losses in the event of an MFDA members insolvency
OBSI Ombudsman banking services and investments answer - An independent and impartial
org intended to resolve disputes between participating banking services and inv firms and their
clients
OBSI answer - They can settle claims up to $350k
OBSI answer - All MFDA members must also be members of this regulatory body
IIROC Investment industry regulatory organization of Canada answer - Their objective is to
create a favourable environment for the investing public
OSFI office of the superintendent of financial institutions Canada answer - Their mandate is to
protect the rights and interests of depositors,policyholders, PP members,and creditors of fin
inst, contribute to public confidence in the can fin system
,Provincial and territorial securities commission answer - This is a responsibility of who?
Providing licensing and continuing education courses for MF dealing reps
CSA answer - The national instruments where developed through?
PCMLTFA answer - The act to combat the laundering of proceeds of crime, and the financing of
terrorist activities
FINTRAC answer - Collects, analyzes and discloses information to help detect and prevent
money laundering, and the financing of terrorist activities in Canada and abroad
Privacy act answer - Law that imposes obligations on federal government departments and
agencies to respect privacy rights To Fed Gov Bodies only
PIPEDA answer - Canada's Private sector privacy law
18months answer - After how long of not doing business with a client are you not allowed to
call them is they are on the DNCL
FINTRAC answer - You are required to report completed and attempted suspicious transactions
to?
MFDA answer - Who is a self regulatory org that regulates the operations, standards of practice
and business conduct of Canadian MF dealers
MFDA answer - This is a mandate of who? Performing compliance reviews for the distribution
side of the Canadian MF industry
, CSA answer - It is a forum for Canada's provincial securities regulatory authority
COO Chief Compliance Officer answer - Is responsible for establishing and maintaining
compliance policies and procedures, monitoring and assessing compliance, submitting annual
report to BOfD
UDP Ultimate Designated Person answer - Must supervise the firms compliance activities, and
promote compliance with in the firm
Compliance Department answer - Their main role is to ensure that all individuals with in the
firm comply with regulations contained in the MFDAs rules and policies, and the firms policies
and procedures manual
NI 31-103 answer - What NI contains the rules pertaining to relationship disclosure
NAAF New account application form answer - Evidence that the relationship disclosure has
been provided to client is in what form?
Any written communication not advertisement or sales comm answer - What defines client
communications
At least once every three months answer - How often must account statements be sent?
Excessive trading answer - This is a practice of recommending trades that provide little or no
benefit to the client has no purpose other than generating commission for the dealing rep
Must get written consent fr client answer - What must you do before enlisting a specialist to
provide services to your. Lient
