IFSE EXAM 21
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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: 121
Which of the following is a characteristic of a bond fund?
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A. Income from a bond fund will primarily be interest but may also be capital gains
B. Bond funds are very low risk because they never go down in value.
C. If interest rates rise the value of a bond fund will also tend to rise.
D. Securities regulation specifies that bond funds must invest in investment grade bonds.
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IFSE Institute Canadian Investment Funds Course - CIFC Exam Questions [2024]
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Correct Answer: A
Explanation
A bond fund is a mutual fund that invests primarily in bonds and other debt securities. Income from a bond fund will primarily be interest but may also be
capital gains if the fund sells bonds that have appreciated in value. Bond funds are not very low risk because they can fluctuate in value depending on
interest rate changes and credit risk. If interest rates rise, the value of a bond fund will tend to fall because existing bonds will become less attractive than
new bonds with higher rates. Securities regulation does not specify that bond funds must invest in investment grade bonds, although some funds may
have this as an investment objective or policy. References: What Is a Bond Fund?
QUESTION NO: 122
Grant is a Dealing Representative with WealthPlus Securities Inc. Grant becomes a volunteer member of his local arena's Hockey Association
and is appointed as the Association's new Treasurer. Which of the following statements about Grant's appointment as Treasurer is CORRECT?
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Correct Answer: B
Explanation
Grant's appointment as Treasurer is considered an outside activity, regardless of whether he is compensated or not. According to the CIFC, Dealing
Representatives must obtain their firm's written approval before engaging in any outside activity that could interfere with their ability to perform their duties
or create a conflict of interest with their clients or employer. Grant must disclose the nature and extent of his involvement with the Hockey Association and
how it may affect his availability, reputation, or potential for conflicts of interest. The firm may approve, reject, or impose conditions on Grant's outside
activity.
References: Canadian Investment Funds Course, Chapter 8: Suitability and Know Your Client1
A. If Grant is not compensated for the Treasurer position, his firm's approval is not required.
B. Grant must obtain the firm's approval before he starts the Treasurer position.
C. Since Grant holds the Treasurer position on a voluntary basis, it is not an outside activity.
D. Grant must disclose the Treasurer position to his firm once he has accepted the position.
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IFSE Institute Canadian Investment Funds Course - CIFC Exam Questions [2024]
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QUESTION NO: 123
Which of the following are obligations on mutual fund dealing representatives imposed by The Proceeds of Crime (Money Laundering) and
Terrorist Financing Act?
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Correct Answer: A
QUESTION NO: 124
Which of the following statements about capital gains distributions from mutual fund trusts is correct?
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Correct Answer: D
Explanation
According to the Canadian Investment Funds Course, capital gains distributions are the portion of the mutual fund trust's net realized capital gains that are
paid out to the unitholders. Capital gains distributions are not the same as capital gains from selling or redeeming units of the mutual fund trust, which are
reported on a T5008 slip. Capital gains distributions are taxable in the year they are received, even if they are reinvested in additional units of the fund. The
A. record-keeping of large transactions, account-related information, and other relevant records
B. confirming client identity each time before concluding any transaction
C. reporting all financial transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
D. enhancing public awareness of matters related to money laundering and terrorist financing
A. Capital gains from mutual fund distributions are 100% taxable.
B. Capital gains distributions are not a disposition and are therefore not taxable.
C. Capital gains from mutual fund trusts are deferred until the investor exits the mutual fund.
D. Capital gains distributions from a mutual fund trust are reported annually on a T3.
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
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O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
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restructured note.
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Statement of Financial Position
December 31, 2022
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Accounts receivable (net)
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On April 1, year 1, Cricket Corporation issues $30 million of 6%, 8-year bonds payable at par. Interest on the bonds is
payable semiannually each April 1 and October 1.
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Exercise 7-6A (Static)
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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Use the following information for the Exercises 12-13 below. (Algo)
[The following information applies to the questions displayed below.]
Del Gato Clinic's cash account shows an $15,472 debit balance and its bank statement shows $16,254 on deposit at the
close of businėss on June 30.
a. Outstanding checks as of June 30 total $3,069.
b. The June 30 bank statement lists a $35 bank service charge.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del
Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398.
d. The June 30 cash receipts of $2,261 were placed in the bank's night depository…
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Financial Accounting (2021SP-ACC-120-51-Meza)
urses / 2021SP-ACC-120-51/ Week of April 29 / Final Exam
Journalize the entries to record the following selected transactions:
(a) Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold was $510.
(b) Paid $436 to the state sales tax department for taxes collected.
A-
I
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Description
Debit
Credit
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Prepare a December 31, 2020, balance sheet for Long Print Shop from the following: cash, $41,100; accounts payable, $29,100%;
merchandise inventory, $15,100; Joe Ryan, capital, $48,200; and equipment, $21,100.
LONG PRINT SHOP
Balance Sheet
December 31, 2020
Assets
Liabilities
ces
Owner's Equity
Total assets
Total liabilities and owner's equity
acer
Σ
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B 09 Operational and Legal Consid x
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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
>
Calculating Capacity
• How many machines do you need?
• You expect your sales to be
3,000,000 granola bars (20g each)
• How large is your plant?
per month
• How many workers do you need?
The machine:
• How much is the investment?
Capacity: 100 kgs per hour
• What are the operating costs?
Requires 2 people to operate it
Takes 8 ft x 40 ft space
• Cost per machine $15,000
Energy and maintenance: $5 per hour
• Cost of material and packaging:
$0.12 per bar
I Group Project.xlsx
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A O 4) ENG
2020-12-09
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Sheffield Corp. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become
uncollectible. Accounts receivable are $430,800 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,864.
(a) Prepare the adjusting journal entry to record bad debt expense for the year.
(b) If the allowance for doubtful accounts had a debit balance of $887 instead of a credit balance of $2,864, prepare the adjusting journal entry for
bad debt expense.
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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
Land
value-Common Stock
33,000 (3)
Common Stock, $10 Par
35,000 (2)
60,000 (3)
(1)
(2)
(5) 6,080
Cash
80,600
35,000
4
*800 shares of common stock
Date
1
OsLock
Preferred Stock, $50 Par
65,000 (1)
Esc
FnLock
12,800 (4)
!
Required
4
Using this information, give detailed descriptions, including number of shares and price per share when applicable, for each of the five transac
General Journal
1
Paid-in-Capital in Excess of Par Value - Preferred Stock
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(1)
A
F1
Z
Description
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Paid-in Capital from Treasury…
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The following information is available for Brownstone Products Company for the month of July:
Master
Actual
Budget
Units
3,500
4,000
Sales revenue
$ 54,300
$ 60,000
Variable manufacturing costs
10,000
16,000
Fixed manufacturing costs
13,000
14,000
Variable selling and administrative expenses
6,500
8,000
Fixed selling and administrative expenses
8,000
9,100
Required:
1. What was the master budget variance for July? Was this variance favorable or unfavorable?
es
2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in
terms of operating income.
4. Prepare pro-forma budgets for activities within its relevant range of…
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A Midterms Part 2
E 131 MIDTERMS PART 2
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On January 1, 20x1, Pete Electrical Shop received from Marion Trading 300 pieces
of bread toasters. Pete was to sell these on consignment at 50% above original
cost, for a 15% commission on the selling price. After selling 200 pieces, Pete had
the remaining unsold units repaired for some electrical defects for which he
spent P2,000. Marion subsequently increased the selling price of the remaining
units to P330 per unit. On January 31, 20x1, Pete remitted P64,980 to Marion
after deducting the 15% commission, P850 for delivery expenses of sold units,
and P2,000 for the repair of 100 units. The consigned goods cost Marion Trading
P200 per unit, and P900 had been paid to ship them to Pete Electrical Shop. All
expenses in connection with the…
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POTUTORIAL QUESTION 4.pdf
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X PDF Topic 4 Employee Benefits.pdf x | +
Ⓒ File | C:/Users/acer/Documents/UNIVERSITI%20MALAYSIA%20SABAH/SEMESTER%204%20COURSE/BP22603%20FAR%20111/CHAP... Q
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Required:
Calculate the amount recognised as expenses and amount disclosed as equity.
QUESTION 4
At 1.1.2017, KAZA Bhd grants 80,000 share appreciation rights to employee, with service
condition that the employee will still be employed in KAZA for three years. grant date,
KAZA's share price is RM3.00. The rights grants have a life of five years. At 31.12.2019,
employee will be received cash by KAZA based on the value of the rights on that date. At the
end of years 2020 and 2021, KAZA will pay the further cash to the employee if the rights have
appreciated in value. Fair value of the share appreciation rights for the five-years are as
follows:
Year
Share price RM
Dividend yield
%
Value of rights
RM
0
3.00
1
0.81
2017…
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الوقت المتبقى: 10 دقائق، 20 ثانية )ثوان(.
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A انقر فوق إرسال لإكمال هذا التقي يم.
السؤال 10
Capital budgeting involves...
deciding among various long-term investments A O
preparing the sales budget for the coming year .B O
analyzing various alternatives of financing available to a company .cO
budgeting for yearly operational expenses
.D
SUS
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Recommended textbooks for you
- Essentials Of InvestmentsFinanceISBN:9781260013924Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.Publisher:Mcgraw-hill Education,
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