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lOMoARcPSD|7969963Quiz 1 - IFC Check
Investment Funds In Canada (Lambton College of Applied Arts and Technology)
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Check Companion 2021-06-20, 3:06 AM
Check: Practice Test 1
Reports
Overall Results
Score: Number
Attempt Questions Correct Your Score
20%
1 100 9 9%
2 100 1 1%
3 100 8 8%
4 100 0 0%
5 100 0 0%
6 100 20 20%
You did not pass the test.
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Learning Domain Results
Score: Number
Learning Domain Questions Correct Your Score
20% An Introduction to the
Mutual Funds Marketplace 14 11 79%
The Know Your Client
Communication Process 19 9 47%
Understanding Investment
Products and Portfolios 18 0 0%
The Modern Mutual Fund 4 0 0%
Analysis of Mutual Funds 11 0 0%
Understanding Alternative
Managed Products 3 0 0%
Evaluating and Selecting
Mutual Funds 16 0 0%
Ethics, Compliance and
Mutual Fund Regulations 15 0 0%
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Question Results
1. Marc asks his new client for copies of his mortgage documents. Which Know Your Client component is Marc researching?
A. Financial goals and objectives.
Good choice! B. Financial circumstances.
C. Investment knowledge.
D. Personal circumstances.
Feedback: Financial circumstances are an important consideration in judging the suitability of investments, because they determine the
amount of savings clients can commit to investing and the level of risk they can assume. Marc’s client’s mortgage document will give Marc
valuable insights into the level of debt and mortgage obligations his client has, helping in evaluating the client’s financial circumstances.
Reference | Chapter 1 – The Role of the Mutual Fund Sales Representative
Learning Domain | An Introduction to the Mutual Funds Marketplace
2. What term describes the range of possible future outcomes on the price of a security?
A. Beta.
B. Fluctuation.
C. Return.
Good choice! D. Risk.
Feedback: Risk is the potential volatility in returns or the range of possible future outcomes on the price of a security.
Reference | Chapter 1 – The Role of the Mutual Fund Sales Representative
Learning Domain | An Introduction to the Mutual Funds Marketplace
3. A client has $100,000 in savings, $5,000 in bank accounts, and $10,000 in loans. Calculate his net worth.
Good choice! A. $95,000
B. $115,000
C. $105,000
D. $90,000
Feedback: Net worth is calculated as the value of all of the client’s assets after subtracting outstanding loan and mortgage balances. In
this example, the client has $100,000 + $5,000 = $105,000 in assets, and $10,000 in loans. Therefore, his net worth is $105,000 - $10,000
= $95,000.
Reference | Chapter 1 – The Role of the Mutual Fund Sales Representative
Learning Domain | An Introduction to the Mutual Funds Marketplace
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