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You meet with a prospective client, Joaquin, for an investment planning discussion. Joaquin has been investing for about 10 years, primarily in mutual funds and

You meet with a prospective client, Joaquin, for an investment planning discussion. Joaquin has been investing for about 10 years, primarily in mutual funds and exchange traded funds. However, Joaquin wants to learn more about segregated funds. When Joaquin asks you to explain about segregated funds, which of the following statements about segregated funds is CORRECT?

a) Investors of segregated funds are protected by the Canadian Investor Protection Fund (CIPF).

b) Segregated funds typically have lower management expense ratios than mutual funds.

c) Both segregated funds and mutual funds offer potential maturity guarantees.

d) Unlike mutual funds, segregated funds offer the opportunity to bypass probate.

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