2. Bart is a new dealing representative. You have been asked to train and orient him. During the course, Bart wants to better understand the requirements for KYP. Which of the following statements best explains KYP? a. You must know and understand the attributes and risks of the product. b. It is sufficient to know the representations about the product made by the issuer. You must know the product is on the approved list of mutual fund dealers. d. You must know that no product can be recommended unless it has been initially recommended by the securities commissions. C. . Steve, a dealing representative, recommends a deferred sales charge (DSC) fund with a seven- year fee schedule to Drew, his 75-year-old client. Edwin has a low risk tolerance, his investment objective is income, and he has a three-year time horizon. Which of the following statements is True? a. Steve's recommendation is suitable, since the DSC schedule reduces over time. b. Steve's recommendation is not suitable, since the DSC schedule is for a longer duration than Edwin's time horizon. C. As long as Steve has disclosed all product details to Edwin, he is covered. d. The disclosure must be in writing, in order for the recommendation to be suitable. Which of the following is an example of Monetary Policy? a. The federal government announces a new surtax for high income earners. b. The Bank of Canada raises interest rates to slow down the economy. The federal government reduces the GST from 5% to 3%. d. The federal government commits to transferring an additional $1 billion to provinces for health care. C. Which of the following is generally used as a measure of economic well-being? a. Gross domestic product b. Inflation rate Consumer price index d. Unemployment rate C. Which of the following is an example of an expansionary fiscal police? a. Increasing transfer payments b. Increasing income taxes C. Decreasing government expenditures d. Decreasing the Bank of Canada rate