[Q219-Q236] Get up-to-date Real Exam Questions for IFC UPDATED [2026]

QUESTION 219
What is a requirement when holding an RRIF?

QUESTION 220
Salvatore and Harriet recently got married. They are presently renting but are looking forward to buying a new home within 5 years. They both have separate savings established in their respective registered retirement savings plans (RRSPs) of $100,000 each. They have come to Dustin, a Dealing Representative, to open an additional joint investment account to increase their savings to assist with their future plans of buying a new home.
What does Dustin need to ensure about his recommendation?

QUESTION 221
The following data is available for an investment:
Purchase value
$125
End of the year value
$133
Quarterly dividend amount
$1
What is the annual return for this investment if held for one year?

QUESTION 222
Dave purchases 10,000 units of a no-load US-dollar denominated mutual fund for US$15 per unit for a total cost of $165,400 Canadian. He later sells the units for US$16 per unit, with a loss of $11,400 Canadian. To what type of risk has Dave been exposed?

QUESTION 223
Sharon short-sold 7,500 shares of LMP at $85. She later buys back the short position at $95. Sharon was charged a 1% commission on the proceeds for both the short sale and buyback transactions. What is Sharon’s profit or loss?

QUESTION 224
Which of the following statements about capital gains distributions from mutual fund trusts is correct?

QUESTION 225
What information does Fund Facts provide to potential investors?

QUESTION 226
Lucas wants to participate in the Lifelong Learning Program (LLP). He currently has $10,000 in his registered retirement savings plan (RRSP) for this purpose. He plans to make his maximum permitted withdrawal of $10,000 under the LLP in two months. Based on this information, what would be his investment objective for the $10,000 currently sitting in his RRSP?

QUESTION 227
What is the current yield on a $5,000 Government of Canada bond paying a 6% coupon and trading at a price of $102 (rounding to the nearest hundredth)?

QUESTION 228
Your client, James, would like to work beyond the normal retirement age. He comes to you for advice on his registered retirement savings plan (RRSP).What are the rules regarding terminating an RRSP?

QUESTION 229
You ask a new client, Brad, “what are your financial obligations and what are your assets?” What information are you trying to gather in order to comply with the know your client (KYC) rule?

QUESTION 230
Which of the following CORRECTLY describes a material conflict of interest that has been properly addressed by the Dealing Representative?

QUESTION 231
An employer wants to offer his employees a pension plan. The goal is to provide a simple-to-understand plan that will reward all participants equally, regardless of their income level, and provide a retirement income based on a participant’s years of service with the company. What plan will best meet his requirements?

QUESTION 232
What type of mutual fund seeks to provide a positive real rate of return, through both income and capital appreciation, by investing in a diversified portfolio of fixed income securities, as well as Canadian and foreign equity securities?

QUESTION 233
Julia is looking for a mutual fund that will give her growth with moderate volatility. Her dealing representative has suggested the Laurentian Fund. The mutual fund’s mandate limits the amount of equity exposure in the portfolio to 60%. Also, the portfolio must hold between 40 – 60% in fixed income at all times.
The mutual fund distributes interest, dividends, and capital gains to its unitholders. What type of mutual fund is the Laurentian Fund?

QUESTION 234
Fred’s client, Matteo, holds a technology-themed mutual fund. The fund’s investment objective recently changed, allowing it to hold various cryptocurrencies, resulting in a high-risk rating and making it unsuitable for Matteo. Fred discussed the change with his client, but Matteo insisted on continuing to hold the fund.
What action must Fred take?

QUESTION 235
Which statement about market risk is true?

QUESTION 236
Sylvia decided to use the savings from her bank account to purchase a 5-year bond. The face value of the bond is $10,000, the market price is $9,230 and the coupon rate is 7%.
What is the current yield on the bond?Round to 2 decimal places.