CSI IFC - Investment Funds in Canada (IFC) Exam
A client had set up a voluntary accumulation plan to invest a set amount annually in December in an equity mutual fund. They decided to move to a pre-authorized plan where they will invest a smaller amount in this fund every week. What is likely the most significant benefit of this change?
What does PIPEDA require firms in Canada to do?
A sales representative has accepted an instruction from a relatively new client to liquidate all positions and wire the proceeds. This request appears rather unusual and suspicious, so she escalates this to her compliance department. To whom should the compliance department report these transactions?
Reginald is a Dealing Representative, who feels pressure from management at the beginning of every calendar year, to open new registered retirement savings plans (RRSPs) and generate RRSP contributions. It is the end of February, and Reginald is close to reaching his personal sales objectives. He just finished an appointment with a prospective new client, Orel. Orel wants to open a tax-free savings account (TFSA) to build emergency savings. However, Reginald recommended to Orel that he should first contribute to an RRSP, and then use the tax savings for a TFSA contribution. With regards to account suitability, what can be said about Reginald's advice?
