Mutual Funds (CIFC, IFC) Exam Questions – Foran Financial Institute [PDF]

7 Apr 2013 - Questions Chapter 3: Mutual Funds 1. A little less than three years ago Patricia bought $2000 worth of Mapl

4 downloads 18 Views 36KB Size

Recommend Stories


Mutual Funds
If you want to become full, let yourself be empty. Lao Tzu

mutual funds
Be grateful for whoever comes, because each has been sent as a guide from beyond. Rumi

IFC Trust Funds
Goodbyes are only for those who love with their eyes. Because for those who love with heart and soul

Segregated funds and mutual funds
If you are irritated by every rub, how will your mirror be polished? Rumi

Cisa exam questions pdf
If you feel beautiful, then you are. Even if you don't, you still are. Terri Guillemets

mutual funds redemption form
Be grateful for whoever comes, because each has been sent as a guide from beyond. Rumi

(Mutual Funds) Regulations, 1996
It always seems impossible until it is done. Nelson Mandela

MUTUAL FUNDS - FAQs
Ego says, "Once everything falls into place, I'll feel peace." Spirit says "Find your peace, and then

Mutual Funds For Dummies
No amount of guilt can solve the past, and no amount of anxiety can change the future. Anonymous

how mutual funds work
And you? When will you begin that long journey into yourself? Rumi

Idea Transcript


Foran Financial Institute Advancing Financial Careers since 1987 APRIL 7, 2013 BY FORANFINANCIAL

Mutual Funds (CIFC, IFC) Exam Questions Questions Chapter 3: Mutual Funds 1. A little less than three years ago Patricia bought $2,000 worth of Maple Leaf Resource Fund. T he fund has since performed poorly. S he feels she has been patient enough and wants to redeem all of her units. S he purchased the fund on a deferred sales charge basis. The DS C schedule starts with a 5% commission if the funds are redeemed in the first year which is reduced by 1% each year thereafter. If redeemed after the 5th year the commission is 0% . T he DS C fee is based upon the original NAV PS at the time of purchase. When Patricia bought the Maple Leaf Resource Fund, the NAVPS was $10 per share and is currently priced at $6.75 per share. How much will she receive? a) $1,290.00 b) $1,309.50 c) $1,350.00 d) $1,404.00 Chapter 6: Pensions, Registered Accounts and Other Investments 2. In 2012, John earned $45,000 as a computer technician. He received rental income of $7,000, rental expenses were $2,000. H e also received $6,000 in dividends from his Bell Canada preferred shares. John is a member of the companies defined contribution pension plan and contributes 5% of his salary which is matched by his employer? What is his eligible RRSP contribution room for 2013, assuming no carry-forward room. a) $4,860 b) $4,500 c) $5,580 d) $9,000 Answers 1. a) `$1,290.00 Redemption amount = NAVPS – back-end sales charge = $6.75 – (original NAVPS × sales charge %) = $6.75 – ($10 × 0.03) = $6.75 – $0.30 = $6.45 × 200 units* = $1,290 * she originally purchased 200 units ($2000 ÷ 10) 2. b) `$4,500 $45,000 Year 2013 salary + 5,000 Net rental income [ $7,000 – $2,000 ] = $50,000 Earned income for 2012 RRSP purposes × 18% = $9,000 John can contribute $9,000 or $22,970 whichever is less minus the pension adjustment (PA). Pension adjustment (PA) is contribution by employer + employee to the plan in the previous year (2012) $45,000 × (5% + 5%) = $4,500 PA $9,000 – $4,500 = $4,500 RRSP room for the year 2012 For more Mutual Funds questions check out our Mutual Funds Quiz Book (http://www.foranfinancial.com/products/mutual_funds.html). Keep up to date on our courses and products by liking us on Facebook (http://www.facebook.com/foranfinancial) and following our Twitter (https://twitter.com/ForanFinancial) Feed. This entry was posted in Exam Questions, MF Exams, Mutual Funds and tagged Bell Canada, Canadian Securities Institute, CIFC, CSI, exam questions, IFC, IFIC, MFexamquestions, Mutual fund, Mutual fund fees and expenses, Registered Retirement Savings Plan, RRSP. Bookmark the permalink. Powered by WordPress.com.

Smile Life

When life gives you a hundred reasons to cry, show life that you have a thousand reasons to smile

Get in touch

© Copyright 2015 - 2024 PDFFOX.COM - All rights reserved.