Free Access IFSEInstitute.CIFC.v2024-05-13.q115 Practice Test (Page 17)

Question 76

Dakota is a Dealing Representative with Harvest Wealth Inc., a mutual fund dealer. Dakota starts a marketing campaign to contact prospective new clients and increase sales with existing clients. Which of the following CORRECTLY describes activities that Dakota can engage in under her marketing campaign?

A.Dakota can make telemarketing calls to clients who have opted in to receive commercial electronic messages (CEMs).

B.Dakota can make telemarketing calls to clients who are listed on the National Do Not Call List

C.Dakota can send promotional emails to clients who have opted in to receive commercial electronic messages (CEMs).

D.Dakota can send promotional emails to clients who have opted into Harvest Wealth's Do Not Call List

Question 77

Which of the following statements regarding mutual fund fees is correct?

A.Trailer fees are only paid to mutual fund dealers when a purchase is made.

B.Redemptions are made from units held by investors to pay trailer fees.

C.Trading commissions are paid from the management fee.

D.The mutual fund dealer receives trailer fees based on the value of assets under management.

Question 78

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?

A.net worth

B.marginal tax rate

C.income and cash-flow

D.tax consequences

Question 79

Which person would be categorized as a vulnerable client?

A.Nafissa, who has no savings to address an immediate financial emergency.

B.Ginger, who has reached retirement age and is easily confused.

C.Aldous, who has become recently unemployed but still has a mortgage to pay.

D.Peter, who is 65 years old but cannot afford to retire.

Question 80

Which of the following statements best describes dollar-cost averaging?

A.It is the strategy of purchasing a set number of units of a mutual fund on a regular basis.

B.It is a type of systematic withdrawal program.

C.It is making lump-sum purchases when the market price for a mutual fund is low.

D.It is buying a set dollar amount of a mutual fund on a regular basis

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Question 76

Question 77

Question 78

Question 79

Question 80

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