CSI IFC Exam Part 1 UPDATED ACTUAL Questions and CORRECT Answers
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Course
CSI IFC
Institution
CSI IFC
CSI IFC Exam Part 1 UPDATED ACTUAL
Questions and CORRECT Answers
Client Service - CORRECT ANSWER- fully understanding and satisfying the unique
needs of each client
Compliance - CORRECT ANSWER- following the rules, whether those rules are legal
requirements or dealer policies
Disclosure - ...
CSI IFC Exam Part 1 UPDATED ACTUAL
Questions and CORRECT Answers
Client Service - CORRECT ANSWER✔✔- fully understanding and satisfying the unique
needs of each client
Compliance - CORRECT ANSWER✔✔- following the rules, whether those rules are legal
requirements or dealer policies
Disclosure - CORRECT ANSWER✔✔- Includes under reports, regular corporate financial
reports, timely disclosure of material changes in the affairs of a company and examination of
all prospectuses to ensure that there is full, true and plain disclosure. Proper disclosure allows
investors to make informed choices.
Financial Circumstances - CORRECT ANSWER✔✔- Includes the size of the client's
investment portfolio, employment and investment income, whether the source of employment
income is secure, and the level of periodic expenses incurred.
Financial Goals and Objectives - CORRECT ANSWER✔✔- client's reason for selecting a
given investment. May be expressed in terms of the types of desired returns (such as growth
or investment income) or in terms of desired investment characteristics such as safety or
liquidity.
Financial Planner - CORRECT ANSWER✔✔- A professional holding a recognized
designation (CFP, ChP or PFP) who assists clients in establishing and reaching financial goals
by analyzing current finances and making recommendations on reaching financial goals.
Beyond the scope of a mutual funds sales rep.
Fund Facts - CORRECT ANSWER✔✔- a short mutual fund document designed to give
investors key information that is relevant to their investment decisions, including facts about
the fund itself, performance history, investments and the cost of investing in the fund.
Investment Fund - CORRECT ANSWER✔✔- offers investors an interest in a pool of
securities. Mutual funds included are a type
, Investment Horizon - CORRECT ANSWER✔✔- The length of time within which an
investor expects a given investment to satisfy their investment/return objectives
Know your client - CORRECT ANSWER✔✔- Mutual funds advisor must use due diligence
to learn the essential facts relevant to every client and every order. Info concerning client's
financial status (both income and net worth), family an d other commitments, as well as
financial goals
Know your product - CORRECT ANSWER✔✔- understand characteristics such as risk
level, fees, type of income generated, and tax consequences of all the funds offered for sale
legal responsibility - CORRECT ANSWER✔✔- the responsibility of the investment guide to
ensure that each client only buys suitable investments.
mutual fund - CORRECT ANSWER✔✔- An unlimited number of unites are issued by the
fund and they are bought and sold directly by the fund itself. The value of a unit is not
determined by market demand but by the net asset value of the securities in the fund's
portfolio
Mutual Fund Sales Representative - CORRECT ANSWER✔✔- individuals who are licensed
to sell and provide advice on mutual funds products to their clients in the province or territory
where they have been licensed.
net worth - CORRECT ANSWER✔✔- whatever an individual has accumulated to date is
their net worth. It is the difference between total assets and total liabilities
personal circumstances - CORRECT ANSWER✔✔- these include client's age, whether they
are single or married, how many children they have, and what kind of lifestyle they wish to
maintain. They have major impact on the ability of the investor to bear risk and on the
financial goals selected.
professional responsibility - CORRECT ANSWER✔✔- The responsibility of the investment
guide to provide the best client service possible and to refuse to sell a product that is felt to be
unsuitable.
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