IFSE EXAM 16
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IFSE Institute Canadian Investment Funds Course - CIFC Exam Questions [2024]
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IFSE Institute Canadian Investment Funds Course - CIFC Exam
Questions
QUESTION NO: 96
Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?
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A. Usually the market price of an ETF is the net asset value per unit (NAVPU) of the Fund on that day.
B. Investors may sell their ETFs in the stock market or redeem them through the Fund at the NAVPU of the day.
C. ETFs have lower MERs compared to mutual funds.
D. All ETFs are actively managed.
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4/22/24, 3:51 AM
IFSE Institute Canadian Investment Funds Course - CIFC Exam Questions [2024]
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Correct Answer: C
Explanation
An exchange-traded fund (ETF) is a type of pooled investment security that operates much like a mutual fund.
Typically, ETFs will track a particular index, sector, commodity, or other assets, but unlike mutual funds, ETFs can be purchased or sold on a stock
exchange the same way that a regular stock can. ETFs have lower management expense ratios (MERs) compared to mutual funds because they are
passively managed and do not incur high costs for research, analysis, and portfolio rebalancing. Therefore, this statement is true about ETFs.
References: Exchange-Traded Fund (ETF) Explanation With Pros and Cons - Investopedia, The Best ETFs - Exchange Traded Funds Rankings | US News
Investing
QUESTION NO: 97
Which of the following statements regarding mutual fund fees is correct?
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Correct Answer: C
Explanation
Trailer fees are ongoing fees that are paid by mutual fund managers to mutual fund dealers for providing ongoing services to their clients who hold units of
their funds. Trailer fees are calculated as a percentage of the value of assets under management (AUM) of the clients who hold units of the fund. Trailer fees
are paid out of the management fee that is charged by the mutual fund manager to cover the costs of operating and administering the fund. Therefore,
option C is correct regarding mutual fund fees. The other options are incorrect. Option A is false because redemptions are not made from units held by
investors to pay trailer fees; rather, trailer fees are paid out of the management fee that is deducted from the net asset value (NAV) of the fund. Option B is
false because trailer fees are not only paid to mutual fund dealers when a purchase is made; rather, trailer fees are paid on an ongoing basis as long as the
clients hold units of the fund. Option D is false because trading commissions are not paid from the management fee; rather, trading commissions are paid
from the trading expense ratio (TER) that reflects the costs of buying and selling securities within the fund.
A. Redemptions are made from units held by investors to pay trailer fees.
B. Trailer fees are only paid to mutual fund dealers when a purchase is made.
C. The mutual fund dealer receives trailer fees based on the value of assets under management.
D. Trading commissions are paid from the management fee.
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IFSE Institute Canadian Investment Funds Course - CIFC Exam Questions [2024]
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References: [Mutual Fund Fees Explained | Wealthsimple], [Mutual Fund Fees | GetSmarterAboutMoney.ca],
[Understanding Mutual Fund Fees | Investopedia]
QUESTION NO: 98
Iliana owns 1,000 participating preferred shares in the First Canadian Bank. Which of the following features are characteristic of her investment?
Hide answers/explanation
Correct Answer: D
Explanation
Participating preferred shares are a type of preferred shares that give the holder a right to share in the issuer's net profits over and above the specified
dividend rate. This means that participating preferred shareholders may receive additional dividends if the issuer performs well. Iliana owns participating
preferred shares in the First Canadian Bank, which means she has a right to share in the bank's net profits over and above the specified dividend rate.
References: Investment Funds in Canada (IFC) | Canadian Securities Institute
QUESTION NO: 99
Which statement about unused registered retirement savings plan (RRSP) contribution room is CORRECT?
A. Iliana has the right to purchase more preferred shares in the company before common shareholders.
B. Iliana is able to vote at the annual general meeting and elect members of the board of directors.
C. Iliana can convert her preferred shares to common shares at a fixed price and within a specified time period.
D. Iliana has a right to share in the bank's net profits over and above the specified dividend rate.
A. It may not be more than the RRSP contribution limit for the year in which it is carried forward.
B. It can be carried forward to future years.
C. It can be carried forward a maximum of seven years.
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10:04
Assignment Details
ATG-110-20A01: Financial Accounting (Session II Summer 2021)
7474 unread replies.7575 replies.
Please read and respond to TIF 12-2 on page 623. Review
the rubric to ensure you receive full points for this
discussion.
Discussion Rubric- 25 points(1)_(3).docx
*After you have posted your answers, please reply to three
other students' posts. This discussion board was set up so
that you will not be able to see others replies until you post
your own.
Search entries or author Filter replies by unreadUnread
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TIF 12-2
Issuing Stock
1.
ETHICS Lou Hoskins and Shirley Crothers are
organizing Red Lodge Metals Unlimited Inc. to
undertake a high-risk gold mining venture in Canada.
Lou and Shirley tentatively plan to request
authorization for 400,000,000 shares of common
stock to be sold to the general public. Lou and Shirley
have decided to establish par of $0.03 per share in
order to appeal to a wide variety of potential
investors. Lou and Shirley believe…
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Paragraph
Styles
keep using Word without interruption, activate before Monday, 17 May 2021.
Activate
Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in
the buying and selling of paintings that are sold to public to provide income for the club. For the
financial year ending December 31, 2020 the clerical officer of the club provided the following
information in relation to the club's activities:
Payments
Electricity
Purchase of television
Purchase of paintings
Refreshments, etc.
Stipend for clerk
Stationery
2$
120,000 subscription
60,000 Sale of paintings
320,000 Refreshment, etc. sale
Receipts
300,000
800,000
600,000
280,000
Donations
250,000
200,000
96,000 Other activities
50,000
I.
Additional Information:
()
On January 1, 2020 the club had paintings valued at $350,000., while subscription in
arrears at that date was $15,000
On December 31, 2020 the club owed $25,000 for electricity, while $10,000 was paid
for stationery that was to be…
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Florist Grump, Inc., had beginning retained earnings of $137,000. During the year, Florist Grump had net income of $63,000 and declared
and paid dividends of $18,000. What will be shown for ending retained earnings on Florist Grump's year-end balance sheet?
QUESTION 9
For the year ended December 31, Year 2
For the year ended December 31, Year 1
Revenues
$ 7,500
$ 500
Expenses
1,500
Net Income
December 31, Year 2
December 31, Year 1
Assets
$ 16,500
$ 1,000
500
Liabilities
Stock
300
300
Retained Earnings
1.$
200
Assume Year1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After
determining the missing amounts ($
Earnings 1.$
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Step-1: Click the link
The student can use any of the below links to download the same
a) https://www.imf.org/-
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b) https://www.imf.org/en/Publications/WEO/Issues/2021/01/26/2021-world-economicoutlook-
update
(And click on download data)
Step-2: Answer the below questions
What do you understand by Real GDP? What is the Real GDP Growth Rate of India and
China in 2019? What is the estimated real GDP growth rate of India and China in 2020?
What is the projected real GDP growth rate of India and China in 2021 and 2022?
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(January 2020 forecast) in China and Other Emerging Economies in Asia other than
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REQUIRED:
(Round all numbers to the nearest RM)
a) Prepare all the related journal entries for Glove Bhd for the financial year 2019.
b) Briefly discuss whether (i) trade receivable and (ii) bank overdraft fulfill the definition of financial assets.
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b. As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments?
c. Prepare a journal entry at January 4, year 2, to record the cash sale of these investments at $220,000.
d. What effect will the sale recorded in part c have on Wharton's tax obligation for year 2?
Required D
Wharton, Inc., pays income taxes on capital gains (including gains on marketable securities) at a rate of 30 percent. At December
31, year 1, the company owns marketable securities that cost $180,000 but have a current market value of $220,000.
Required B
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As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments?
Income taxes paid on the increase in the…
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First quiz (page 3 of 7)
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Time left 0:09:24
Rao Construction recently reported $20.00 million of sales, $12 million of operating costs other than
depreciation, and $3.00 millon of depreciation. It had $10 million of bonds outstanding that carry a
10% interest rate, and Its federal-plus-state income tax rate was 40%. What was Rao's operating
income, or EBIT. in millions?
Select one:
O a. 8 millions
O b. 3 millions
O c. 4 millions
O d. 5 millions
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Question 18
Which of the deposits are used by business people in majority?
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Marked out of 2
Select one:
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O a. None
O b. Recurring Deposits
20
19
O c. Savings Deposits
Finish atte
O d. Current Deposits
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OFIN445 Ch. 1-5 Flashcards | Quizt x
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Required
Income Statement: The income statement of Fairoz store Inc. is given for the
years 2020 & 2019.
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2019
General and administrative expenses
21,600
24,000
Interest expense
1,500
1,500
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$136,400
$138,000
11,660
12,720
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$1,023.0
5,230
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99,000
95,000
COGS
770
450
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Title Start Date Due Date Post Date Marks Available
Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100
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On Chapters 9, 10, and 11:
The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football.
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A Company uses a job order costing system and allocates its manufacturing overhead costs based on direct labor costs. The Company's
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11
Bruno SpA
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December 31, 2022
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€260,000
Accounts receivable (net)
340,000
Inventory (at lower-of-average-cost-or-net realizable value)
401,000
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How does a payroll accountant use the information in the General Ledger? (You may select more than one answer. Single click the
box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to
empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
? General Ledger account balances aggregate data to determine payroll costs.
?Payroll expenses contained in the General Ledger are not used to make personnel decisions.
The payroll accountant uses General Ledger balances to…
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Stockholders' Equity: Transaction Descriptions from Account Data
The following T-accounts contain keyed entries representing five transactions involving the stockholders' equity of Riverview, Inc.:
Paid-in Capital in Excess of Par
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Common Stock, $10 Par
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60,000 (3)
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Data for 2024 were as follows: PBO, January 1, $248,000 and December 31, $271,000; pension plan assets (fair value) January 1, $182,000,
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Please assist with Question 1 and 2 only
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Also properly format the journal entries, make it easier to understand what is debit what is credit and the dates.
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- 10:04 Assignment Details ATG-110-20A01: Financial Accounting (Session II Summer 2021) 7474 unread replies.7575 replies. Please read and respond to TIF 12-2 on page 623. Review the rubric to ensure you receive full points for this discussion. Discussion Rubric- 25 points(1)_(3).docx *After you have posted your answers, please reply to three other students' posts. This discussion board was set up so that you will not be able to see others replies until you post your own. Search entries or author Filter replies by unreadUnread Collapse replies TIF 12-2 Issuing Stock 1. ETHICS Lou Hoskins and Shirley Crothers are organizing Red Lodge Metals Unlimited Inc. to undertake a high-risk gold mining venture in Canada. Lou and Shirley tentatively plan to request authorization for 400,000,000 shares of common stock to be sold to the general public. Lou and Shirley have decided to establish par of $0.03 per share in order to appeal to a wide variety of potential investors. Lou and Shirley believe…arrow_forwardParagraph Styles keep using Word without interruption, activate before Monday, 17 May 2021. Activate Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in the buying and selling of paintings that are sold to public to provide income for the club. For the financial year ending December 31, 2020 the clerical officer of the club provided the following information in relation to the club's activities: Payments Electricity Purchase of television Purchase of paintings Refreshments, etc. Stipend for clerk Stationery 2$ 120,000 subscription 60,000 Sale of paintings 320,000 Refreshment, etc. sale Receipts 300,000 800,000 600,000 280,000 Donations 250,000 200,000 96,000 Other activities 50,000 I. Additional Information: () On January 1, 2020 the club had paintings valued at $350,000., while subscription in arrears at that date was $15,000 On December 31, 2020 the club owed $25,000 for electricity, while $10,000 was paid for stationery that was to be…arrow_forwardus.wvu.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_349525_1&course_id=_172235_1&content_id= 91004 Musketeers worldhiston H Blackboard M WVU Gmail a Discord Complete History... m HBO Max N Netflix A ALEKS- Musketeers Excel Email am and sieges v Question Completion Status: Florist Grump, Inc., had beginning retained earnings of $137,000. During the year, Florist Grump had net income of $63,000 and declared and paid dividends of $18,000. What will be shown for ending retained earnings on Florist Grump's year-end balance sheet? QUESTION 9 For the year ended December 31, Year 2 For the year ended December 31, Year 1 Revenues $ 7,500 $ 500 Expenses 1,500 Net Income December 31, Year 2 December 31, Year 1 Assets $ 16,500 $ 1,000 500 Liabilities Stock 300 300 Retained Earnings 1.$ 200 Assume Year1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After determining the missing amounts ($ Earnings 1.$ in the above…arrow_forward
- Conduct the below exercise Step-1: Click the link The student can use any of the below links to download the same a) https://www.imf.org/- /media/Files/Publications/WEO/2021/Update/January/English/data/WEOJan2021updat e.ashx b) https://www.imf.org/en/Publications/WEO/Issues/2021/01/26/2021-world-economicoutlook- update (And click on download data) Step-2: Answer the below questions What do you understand by Real GDP? What is the Real GDP Growth Rate of India and China in 2019? What is the estimated real GDP growth rate of India and China in 2020? What is the projected real GDP growth rate of India and China in 2021 and 2022? What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels (January 2020 forecast) in China and Other Emerging Economies in Asia other than China?arrow_forwardCan you please help me create a citation fot this link using apa 7th edition https://www.stats.gov.kn/wp-content/uploads/2017/11/The-COVID-Impact-Tourism-2019-20-April.pdfarrow_forwardREQUIRED: (Round all numbers to the nearest RM) a) Prepare all the related journal entries for Glove Bhd for the financial year 2019. b) Briefly discuss whether (i) trade receivable and (ii) bank overdraft fulfill the definition of financial assets.arrow_forward
- Please tell me you can help me out with this problem???arrow_forwardeducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewcon... It sec Question 2 - Ch 7 h/w - mkt sec - Connect Required B Complete this question by entering your answers in the tabs below. Required C Saved b. As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments? c. Prepare a journal entry at January 4, year 2, to record the cash sale of these investments at $220,000. d. What effect will the sale recorded in part c have on Wharton's tax obligation for year 2? Required D Wharton, Inc., pays income taxes on capital gains (including gains on marketable securities) at a rate of 30 percent. At December 31, year 1, the company owns marketable securities that cost $180,000 but have a current market value of $220,000. Required B Prev ‒‒‒‒‒‒‒‒‒‒‒ As of December 31, year 1, what income taxes has Wharton paid on the increase in value of these investments? Income taxes paid on the increase in the…arrow_forwardFirst quiz (page 3 of 7) tc.birzeit.edu/mod/quiz/attempt.php?attempt=475234&cmid%3D2242228&page=2 : +97(0/2)-2-2982000 E-mall : help@ritaj.ps courses / PRINCIPLES OF FINANCIAL MANAGEMENT 1-Lecture-1202 - FINN1300-2/ Chapter 3 / First Time left 0:09:24 Rao Construction recently reported $20.00 million of sales, $12 million of operating costs other than depreciation, and $3.00 millon of depreciation. It had $10 million of bonds outstanding that carry a 10% interest rate, and Its federal-plus-state income tax rate was 40%. What was Rao's operating income, or EBIT. in millions? Select one: O a. 8 millions O b. 3 millions O c. 4 millions O d. 5 millions Previous page Next page Jump to.arrow_forward
- Dashboard / My courses / FINA 415-1-20201 / General / FINAL EXAM- FINA 415- FALL 2020-21 Quiz nav Question 18 Which of the deposits are used by business people in majority? Answer saved 1 Marked out of 2 Select one: 10 11 Flag question O a. None O b. Recurring Deposits 20 19 O c. Savings Deposits Finish atte O d. Current Deposits O e. Time Deposits Clear my choice Next page Previous page Unit 4 (3).pptx Unit 3 (2).pptx Unit 5 (1) (1).pptxarrow_forwardPls form a balance sheet of this problem thanksarrow_forwardA2 Fall 2021-2022 OFIN445 Ch. 1-5 Flashcards | Quizt x google.com/forms/d/e/1FAlpQLSdhx7wkRBg-5ysLm-AeX919m2L5F4Jxzbwov4D68iWUmoFzSg/formResponse?pli=1 Required Income Statement: The income statement of Fairoz store Inc. is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 21,600 24,000 Interest expense 1,500 1,500 Net sales $136,400 $138,000 11,660 12,720 Selling Expense $1,023.0 5,230 Income taxes 99,000 95,000 COGS 770 450 Gain on Sale of land 1. What is the operating profit margin for the company over the years 2020 and 2019 respectively?arrow_forward
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