An Investor is making annual withdrawals from their mutual fund as follows:
Based on the withdrawal schedule, what type of withdrawal plan are they using?

• A.Constant
• B.Variable
• C.Lifetime.
• D.Ratio.

Comment: *

Name: *

Email: *

Verification: *

Justin and Yvonne both open a Registered Education Savings Plan (RESP) for their daughter Grace. They plan to regularly contribute $1,000 per year until Grace reaches the age of 17.
Which of the following statements relating to RESP is CORRECT?

• A.Justin and Yvonne may contribute a combined lifetime maximum of $50,000 for Grace.
• B.RESPs are attractive to Justin and Yvonne because they are tax-free investment plans.
• C.There is an annual contribution limit of $2,500 that Justin and Yvonne can contribute to an RESP.
• D.Contributions made by Justin and Yvonne are eligible for a tax deduction in the year they are contributed.

Comment: *

Name: *

Email: *

Verification: *

An established securities house in Quebec offers several investment products, including mutual funds and various securities (e.g., bonds and stocks). An administrative employee has brought forward a potential fund trading violation by a registered employee. Immediately following the employee's report what action is most likely to occur?

• A.AMF will investigate as a SRO.
• B.CIRO will investigate as a SRO.
• C.CIRO will investigate as a CSA.
• D.AMF will investigate as a CSA.

Comment: *

Name: *

Email: *

Verification: *

Which conduct standard addresses personal financial dealings with clients?

• A.Integrity
• B.Compliance
• C.Professionalism
• D.Confidentiality

Comment: *

Name: *

Email: *

Verification: *

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?

• A.After the distribution. Sean will have J&625 in cash and JB8.350 worth of the Penn Canadian Equity Fund.
• B.The total value of Sean's mutual fund holdings after the distribution and reinvestment is §9,875.
• C.The NAVPU of the mutual fund does not change after the distribution since Sean reinvests his distribution and purchases additional units.
• D.Sean's distribution is reinvested at a NAVPU of $19.75 and he receives approximately 31.65 additional units.

Comment: *

Name: *

Email: *

Verification: *