Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She is wondering if it is too late to change her mind and cancel her purchase order.
Which statement regarding the right of withdrawal is CORRECT?

• A.The Canadian Securities Administrators (CSA) created legislation that addresses the right of withdrawal for investors.
• B.Mariana has to wait two business after her purchase order has been settled to exercise the right of withdrawal.
• C.The Mutual Fund Dealers Association of Canada (MFDA) have written conduct rules regarding the right of withdrawal.
• D.The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within.

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Sonya meets with her client Elijah to review different investment approaches that could be offered to help him reach his financial goals. Part of that discussion included Sonya mentioning factors such as inflation, interest rates, and rates of return. Which stage of the Strategic Investment Planning (SIP) process does this describe?

• A.Clarify Client Status, Problems and Opportunities
• B.Identify Strategies and Present the Plan
• C.Implement the Plan
• D.Monitor and Update

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Which example demonstrates direct use of capital savings?

• A.Depositing funds in a Canadian bank account
• B.Building a new factory
• C.Purchasing a company's stocks
• D.Purchasing an investment fund

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In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance?

• A.the chief executive officer
• B.the ultimate designated person
• C.the trustee
• D.the chief compliance officer

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Why is it important that an investor receive a copy of the Fund Facts document when buying a mutual fund?

• A.The investor can verify that his statutory rights have been respected
• B.The investor can verify that the fund has not misstated any material facts
• C.The investor can verify that the fund's stated investment objectives and risk profile match his own
• D.The investor can verify that the fund manager is adhering to the fund's stated investment objectives

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