One of your high net worth clients, Timothy, is a frequent business traveler. He finds the procedure of signing forms for each trade extremely cumbersome and irritating. He asks you to give him 10 forms which he wants to sign and deliver to you. He would like you to undertake to complete transactions in his portfolio when he is away, and inform him later when he is back in Canada. Since Timothy is a high revenue client, you do not want to upset him. How should you deal with Timothy's request? a. Accept the pre-signed forms as it is allowed if done at the request of the client. b. Accept the pre-signed forms, as it contributes to more efficient customer service and increased trade volume. C. Accept the pre-signed forms, as it is allowed provided that a suitability assessment of the client is performed at some time. d. Decline the request since it could be interpreted as discretionary trading. One of your clients has several tax-related questions about estate planning and trusts. You suggest to him that he should consult a tax specialist. He does not know anyone and asks you to recommend someone whom you consider to be competent. What must you do, when enlisting a specialist to provide services to your client? You must get the client's verbal consent. b. You must get the client's written consent. You must prepare a referral agreement with the dealing representative and the client as parties. d. You must inform the client in writing after the service is performed. a. C. a. You have recently passed the Canadian Investment Funds Course (CIFC) exam and have been hired by ABC Mutual Funds Inc. As a dealing representative, you are extremely keen to start calling clients and selling mutual funds. Which of the following statements about your registration as a dealing representative is TRUE? You are permitted to sell mutual funds once you pass the CIFC exam. b. You are required to diarize and remember to renew your mutual fund registration annually. You are required to be sponsored by a dealer to become registered to sell mutual funds. d. The advantage of the National Registration Database (NRD) is that an applicant does not have to make paper application but can file individual online application for registration in each province. C. What step in the Strategic Investment Planning process involves changing and evolving the strategic or tactical investment plan over time? a. Clarify Client Status, Problems and Opportunities b. Identify Strategies and Present the Plan c. Implement the Plan d. Monitor Performance and Update - Roberto is a 38 year old dentist. He is single, and earns approximately $90,000 annually. He has a net worth of $250,000. Roberto is working toward saving $500,000 within 5 years to buy a house. He is not a knowledgeable investor and relies on you to achieve results. Do you have all the required client information to make a suitable recommendation? a. Yes, you have the required KYC information. b. Yes, you have the required information to recommend a managed portfolio that has been found suitable for everyone so far. No, you do not know Roberto's risk tolerance. d. No, you do not know Roberto's investment objectives. C. You have been referred to a prospective client, Justin, a math teaching earning $75,000 annually, with a net worth of $300,000. You learn that Justin is 42 years old, divorced with two Children aged six and eight, who live with their mother. Justin would like to retire at age 60, however he is prepared to continue working until age 65 if necessary. What do you need to know about Justin to complete the KYC requirement? His educational qualifications b. His risk tolerance tails of his recent teaching of the month" award d. His registration status with the teacher's college. a. C
