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CSI IFC Practice Test Questions Answers

Exam Code: IFC (Updated 486 Q&As with Explanation)
Exam Name: Investment Funds in Canada (IFC) Exam
Last Update: 19-Mar-2026
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Questions Include:

  • Single Choice: 486 Q&A's

  • IFC Overview

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    All Canadian Securities Course Related Certification Exams

    Total Questions: 100
    Updated: 19-Mar-2026
    Total Questions: 185
    Updated: 19-Mar-2026

    IFC Questions and Answers

    Question # 1

    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

    A.

    2 and 3

    B.

    1 and 2

    C.

    1 and 4

    D.

    3 and 4

    Question # 2

    Your client Gerard is 30 years old and plans to retire at age 65. He has a mutual fund portfolio of $40,000 in which he invests $1,500 monthly. Gerard's objective is to use these funds to meet the 20% down payment requirement to buy a house for $650,000.

    What is Gerard's investment time horizon not considering market fluctuations?

    A.

    5 years

    B.

    15 years

    C.

    25 years

    D.

    35 years

    Question # 3

    As per CIRO policy, what is a required step after receiving an emailed client complaint regarding dissatisfaction with a product?

    A.

    Acknowledge the complaint in writing

    B.

    Make contact to collect additional information

    C.

    Notify senior management

    D.

    Send a copy of the complaint to CIRO

    Question # 4

    Sandra presently participates in her employer-sponsored defined contribution pension plan (DCPP). As contributions continue to be made into her plan, what can she expect?

    A.

    Retirement benefits will be based on a prescribed formula that can be referenced from the plan's terms and conditions.

    B.

    The employer will solely make contributions to her DCPP based on a prescribed formula noted within her plan.

    C.

    Her available registered retirement savings plan (RRSP) contribution room will be reduced by what is being contributed to her plan.

    D.

    To ensure she has savings at retirement, the employer will choose stable investments to grow her retirement savings.

    Question # 5

    Zara buys a future contract with an underlying value of $100,000 worth of stocks. She is required to deposit $1,750 of margin. Two weeks later, the underlying value of the stocks is $101,900. What is Zara's total return?

    A.

    $3,650 gain

    B.

    $1,900 gain

    C.

    $150 gain

    D.

    $950 gain

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