CPH Practice Exam 1 Questions And Answers | Updated
1. Select the protection fund that was established by the The Investor
Protection
Mutual Fund Dealer's Association. Corporation
2. What is the obligation for RRs to understandKnow Your Product.
how the investments they recommend are
constructed often referred to as?
3. Max, a Registered Representative (RR), is He is protected from crim- inal
concerned about facing civil and criminal and civil proceedings
proceedings if he re- ports a suspicious
transaction to FINTRAC in good faith. Indicate
the legal consequences that he could face if
he reports the transaction and the transaction
is not considered in violation of the Act.
Before any securities
4. Choose the timeframe for verifying a client's transactions are allowed
identity when opening a new account
System for Electronic Doc-
5. Indicate the electronic database developed ument Analysis and
by the Canadian Securities Administrators. Re- trieval.
6. Matthias, a Registered Representative (RR), overhears Repeat the client
identity
a conversation that leads him to have doubts verification process.
about the identity of one of his clients.
Choose the action that Matthias should take.
7. Select the regulatory body(s) responsible forThe Mutual Fund Dealers
all sales
of mutual funds in Canada without being responsible Association.
for regulating the mutual funds themselves.
8. Select the stage of the money laundering process that Layering.
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29
, CPH Practice Exam 1 Questions And Answers | Updated
typically has the most risk for participants in
the secu- rities industry.
2/
29
, CPH Practice Exam 1 Questions And Answers | Updated
9. Sara has discovered that a serious fraud is 15. Who
occurring in her department of a dealer must
member. She has at- tempted to resolve it complete
internally buthas had no success. Identify The the
IIROC service that she can access. professio
nal
10. Select the money-laundering technique that develop
involves dividing large quantities of cash ment
funds into amounts that are below the portion of
minimum threshold for notification of cash IIROC's
transactions. Continuin
g
11. A security dealer identifies suspicious
Educatio
transactions of large amounts of cash being
n (CE)
used to purchase se- curities. Identify the
pro-
organization thatthe securities dealer must
gram?
report these suspicious transactions to.
12. Identify an activity that a Registered
Representative (RR) may participate in during
the 90-day training pe- riod
13. Sanoch is currently considering pursuing a
career in the financial services industry, and
wants to become a Registered
Representative(RR). He is concerned about a
criminal conviction for cheque fraud that
remains on his personal record. Determine the
IIROC fundamen- tal criteria for registration
that Sanoch's record may be relevant to.
14. In what type of accounts must the full
amount of a trade be deposited?
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29
1. Select the protection fund that was established by the The Investor
Protection
Mutual Fund Dealer's Association. Corporation
2. What is the obligation for RRs to understandKnow Your Product.
how the investments they recommend are
constructed often referred to as?
3. Max, a Registered Representative (RR), is He is protected from crim- inal
concerned about facing civil and criminal and civil proceedings
proceedings if he re- ports a suspicious
transaction to FINTRAC in good faith. Indicate
the legal consequences that he could face if
he reports the transaction and the transaction
is not considered in violation of the Act.
Before any securities
4. Choose the timeframe for verifying a client's transactions are allowed
identity when opening a new account
System for Electronic Doc-
5. Indicate the electronic database developed ument Analysis and
by the Canadian Securities Administrators. Re- trieval.
6. Matthias, a Registered Representative (RR), overhears Repeat the client
identity
a conversation that leads him to have doubts verification process.
about the identity of one of his clients.
Choose the action that Matthias should take.
7. Select the regulatory body(s) responsible forThe Mutual Fund Dealers
all sales
of mutual funds in Canada without being responsible Association.
for regulating the mutual funds themselves.
8. Select the stage of the money laundering process that Layering.
1/
29
, CPH Practice Exam 1 Questions And Answers | Updated
typically has the most risk for participants in
the secu- rities industry.
2/
29
, CPH Practice Exam 1 Questions And Answers | Updated
9. Sara has discovered that a serious fraud is 15. Who
occurring in her department of a dealer must
member. She has at- tempted to resolve it complete
internally buthas had no success. Identify The the
IIROC service that she can access. professio
nal
10. Select the money-laundering technique that develop
involves dividing large quantities of cash ment
funds into amounts that are below the portion of
minimum threshold for notification of cash IIROC's
transactions. Continuin
g
11. A security dealer identifies suspicious
Educatio
transactions of large amounts of cash being
n (CE)
used to purchase se- curities. Identify the
pro-
organization thatthe securities dealer must
gram?
report these suspicious transactions to.
12. Identify an activity that a Registered
Representative (RR) may participate in during
the 90-day training pe- riod
13. Sanoch is currently considering pursuing a
career in the financial services industry, and
wants to become a Registered
Representative(RR). He is concerned about a
criminal conviction for cheque fraud that
remains on his personal record. Determine the
IIROC fundamen- tal criteria for registration
that Sanoch's record may be relevant to.
14. In what type of accounts must the full
amount of a trade be deposited?
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29
