試験の準備方法-完璧なIFCブロンズ教材試験-ユニークなIFCトレーニング
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理論の最新の発展に従って、IFC練習教材が多くの専門家によって改訂されることを保証し、学生向けにカスタマイズされた学習コンテンツを専門的にGoShiken編集します。つまり、IFC試験を簡単かつ効率的に見つけることができます集中し、良い学術的成果を得る。さらに、IFC試験ガイドは、お客様にサプリメントサービスモックテストを提供します。これにより、お客様はIFC試験問題を勉強することにより、一生懸命勉強し、欠陥をチェックできます。
CISI IFC 認定試験の出題範囲:
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IFCトレーニング、IFC合格率
IFCトレーニングクイズが役立つと自信を持って言えます。まず第一に、当社はユーザーのニーズに応じて常に製品を改善しています。学習製品が本当に役立つことを本当に望んでいるなら、私たちのIFC学習教材は間違いなくあなたの最良の選択です。あなたはそれより完璧な製品を見つけることはできません。第二に、IFCの学習に関する質問は多くの人々を本当に助けてくれました。これらの高齢者の経験を見ると、IFC試験に合格することを強く決意していると思います。
CISI Investment Funds in Canada (IFC) Exam 認定 IFC 試験問題 (Q386-Q391):
質問 # 386
What may be used to determine which of two bond portfolios is more sensitive to interest rate changes?
- A. Beta
- B. Time-weighted maturity
- C. Sharpe
- D. Variance
正解:B
解説:
The sensitivity of a bond or bond portfolio to interest rate changes is measured by duration, also called time- weighted maturity.
Duration represents the approximate % change in bond price for a 1% change in interest rates.
Higher duration = greater sensitivity to interest rate movements.
Therefore, the correct measure is Time-weighted maturity (Duration).
質問 # 387
Sonya, a mutual fund manager for Drake Financial, has had a stellar year in managing their Canadian equity portfolio and has outperformed the benchmark by over 200 basis points. She is now concerned that within the last couple of months of this calendar year, the Canadian equity market is due for a 10 to 15% pullback.
Which investment strategy would be most appropriate for her to implement for the last couple of months of the year to offset the market correction?
- A. Buy put options on the iShares S&P/TSX 60 Index Fund
- B. Increase her equity exposure to the consumer staples sector
- C. Buy call options on the iShares S&P/TSX 60 Index Fund
- D. Reduce her equity exposure to the energy sector
正解:A
解説:
To protect against a market decline, purchasing put options on an index fund like the iShares S&P/TSX 60 allows the portfolio to offset losses by gaining value if the market falls. The feedback from the document states:
"A fund manager may have experienced a rapid growth in the value of her portfolio, but is concerned that the market may fall. To protect herself against a fall in value, she purchases put options on the iShares S&P/TSX
60 Index Fund (i60s). If the market declines, the fall in value of the portfolio is offset by an increase in the value of the put options." Reference: Chapter 7 - Types of Investment Products and How They Are TradedLearning Domain:
Understanding Investment Products and Portfolios
質問 # 388
Throughout the year, the Redwood Global Equity Fund generated the following outcomes:
. $1.00 per unit of interest income from Canadian treasury bills
. $2.50 per unit of dividend income from foreign corporations
. $7.75 per unit of capital gains from the sale of Canadian corporations
. $6.50 per unit of capital gains from the sale of foreign corporations
. $2.00 per unit of capital losses from the sale of foreign corporations Given that the Redwood Global Equity Fund is structured as a mutual fund trust, which of the following statements is true?
- A. Since Redwood pays the tax on foreign income, it does not distribute dividend or capital gains income from foreign sources to unitholders.
- B. Unitholders will receive $12.25 per unit of net capital gains from Redwood, of which only 50% is subject to tax.
- C. Redwood can flow the foreign dividends to unitholders, who can then take advantage of the dividend gross-up and tax credit mechanism.
- D. Redwood can distribute the $2.00 per unit of capital losses to unitholders, who can then use them to offset their capital gains.
正解:B
解説:
This statement is true because a mutual fund trust can distribute its net income and net realized capital gains to its unitholders, and avoid paying tax at the fund level. The unitholders then report their share of the fund's income and capital gains on their tax returns, and pay tax according to their marginal tax rates. In this case, Redwood has generated $14.25 per unit of capital gains from the sale of Canadian and foreign corporations, and $2.00 per unit of capital losses from the sale of foreign corporations. Therefore, its net capital gains are
$12.25 per unit ($14.25 - $2.00), which it can distribute to its unitholders. The unitholders will only include
50% of the net capital gains in their taxable income, as per the inclusion rate for capital gains in Canada1. The other 50% is tax-free.
The other statements are false because:
* A. Redwood cannot flow the foreign dividends to unitholders, who can then take advantage of the dividend gross-up and tax credit mechanism. This mechanism only applies to dividends received from Canadian corporations that are eligible for the enhanced dividend tax credit or the ordinary dividend tax credit2. Foreign dividends are treated asforeign income, and are subject to withholding tax by the source country and income tax by Canada3.
* C. Redwood cannot distribute the $2.00 per unit of capital losses to unitholders, who can then use them to offset their capital gains. A mutual fund trust can only distribute its net income and net realized capital gains, not its capital losses4. However, a mutual fund trust can carry forward its capital losses indefinitely and use them to reduce its taxable capital gains in future years5.
* D. Redwood does not pay the tax on foreign income, and it does distribute dividend or capital gains income from foreign sources to unitholders. A mutual fund trust pays tax on its foreign income only if it does not distribute it to its unitholders in the same year it is earned. However, most mutual fund trusts distribute all or most of their foreign income to their unitholders, as they want to avoid paying tax at the fund level and maintain their status as a mutual fund trust.
:
Canadian Investment Funds Course (CIFC) Study Guide, Chapter 7: Taxation, Section 7.3: Taxation of Mutual Funds, page 7-10 Canadian Investment Funds Course (CIFC) Study Guide, Chapter 7: Taxation, Section 7.2: Taxation of Investment Income, page 7-4 Foreign Income - Canada.ca Mutual Fund Trusts - Canada.ca Capital Losses and Deductions - Canada.ca Taxation of Foreign Income - IFSE Institute Mutual Fund Trusts - IFSE Institute
質問 # 389
As it pertains to fixed-income securities, which yield metric factors in cash flows relative to ongoing bond prices rather than the initial amount invested?
- A. Dividend
- B. Current
- C. Earnings
- D. Effective
正解:B
解説:
質問 # 390
BUG Inc. has a beta of 1.65. If the market drops by 18.48% over the next 12 months, by approximately how much could BUG Inc. shares fall over that time period?
- A. 11.20%
- B. 20.13%
- C. 16.83%
- D. 30.49%
正解:D
解説:
質問 # 391
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持ってきた製品があなたにふさわしくないと感じることはよくありますか? IFC学習ガイドを使用することに決めた場合、問題に遭遇することは決してないことを伝えたいと思います。私たちのIFC学習教材は、あなたが期待できない高品質を持っています。 IFC学習教材のガイダンスで経験を積むと、以前よりも短時間で過ごすことができ、明らかに進歩を感じることができます。また、IFCのテストクイズは、進歩に役立つことがわかります。 。
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