100% Pass Top-selling IFC Exams – New 2026 CISI Pratice Exam [Q233-Q247]

NEW QUESTION 233
Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is
$16.70. On December 15, the mutual fund’s NAVPU is $21. On December 16, the mutual fund declares a distribution of $1.25 per unit. Sean’s distribution is immediately reinvested and he purchases additional units of the mutual fund.
Which of the following statements about the effect of the distribution is correct?

NEW QUESTION 234
Quintin has been a Dealing Representative for Global Maximum Financial for 5 years. Today, he opened an account for his new client, Reginald. In addition to opening a new account, Reginald agreed to accept Quintin’s investment recommendation and placed a purchase order to buy units of the Global Maximum Value Equity fund.
Quintin informed his Branch Manager Lupita about this new account on the same day the purchase order was received. Lupita told Quintin that she would complete her review of the New Client Application Form (NCAF) by no later than tomorrow.
Which statement regarding this new account opening is CORRECT?

NEW QUESTION 235
The following table shows Sabrina’s earned income for the past few years:

Sabrina has always maximized her RRSP contributions, so she has no carry-forward room available. If the maximum contribution limit for Year 3 is $24,270, what is her RRSP contribution room for Year 3?

NEW QUESTION 236
Which of the following Dealing Representatives has CORRECTLY fulfilled their suitability obligation?

NEW QUESTION 237
Darryl has a diversified investment portfolio of mutual funds in a non-registered account with Investwell Mutual Funds, a mutual fund dealer. Darryl’s diversified portfolio is composed of 3 mutual funds. Each mutual fund is currently worth about $100,000. The ABC Canadian Equity Fund has a total return of 6%, the DEF Bond Fund has a total return of 8% and GHI Global Equity Fund has a total return of 10%. Darryl wants to make an in-kind contribution to his registered retirement savings plan (RRSP) account. He has unused RRSP contribution room of $60,000.
From a tax-efficient viewpoint, which funds contribute in-kind to his RRSP account?

NEW QUESTION 238
Which factors would cause the management expense ratio charged by a mutual fund to be higher?
* The fund invests in foreign equities
* The fund is large in size
* The fund is managed by the fund sponsor’s management team
* The fund pays a trailer fee

NEW QUESTION 239
What criteria does the independent review committee use to determine if a potential conflict of interest, such as interfund trading, should be approved?

NEW QUESTION 240
Which of the following form part of the disclosure documents relating to mutual funds?

NEW QUESTION 241
A parent wants to put aside savings for his 20-year-old disabled daughter to use at age 65. He prefers funds that require minimal management, while maximizing potential returns during earlier years. Which type of fund is most appropriate, given this parent’s objectives?

NEW QUESTION 242
What is the first step before becoming eligible for registration as a mutual fund dealing representative?

NEW QUESTION 243
What items are typically classified as current assets on the statement of financial position?

NEW QUESTION 244
Your client, Mrs. DaSousa, would like to diversify her portfolio by investing in a global equity fund. What should you advise her about the foreign currency risk?

NEW QUESTION 245
Pierre wants to discuss the merits of a specific mutual fund with his Dealing Representative, Simone. There are no trailer fees associated with this fund. Simone is familiar with the mutual fund that Pierre is referring to, which is not offered by her dealer. They schedule an appointment to further discuss his investment portfolio.
Which behaviour from Simone is ethical?

NEW QUESTION 246
When you buy a put option, which of the following is TRUE?

NEW QUESTION 247
What financial instrument is used for publicly-funded capital projects?