Free IFSE Institute CIFC Exam Actual Questions

The questions for CIFC were last updated On Jun 10, 2025

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Question No. 1

Douglas, aged 73, won a lottery prize of $100,000 last week. Today he contacted Vincent, his Dealing Representative, with instructions to contribute the winnings to his registered retirement income fund (RRIF) account.

Which of the following statement about RRIF is CORRECT?

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Correct Answer: B

Question No. 2

Which among the following BEST describes a company's income statement?

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Correct Answer: C

Question No. 3

Evan owns retractable preferred shares of Ingram Corp. Which statement CORRECTLY describes a key feature of Evan's shares?

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Correct Answer: D

Question No. 4

Danny is a Dealing Representative for Everbright Investments. He met with his client Adele, who has $1,000,000 to invest. During their meeting Danny determines that Adele has a high-risk profile. In addition, he learns that she has an excellent understanding of equities and how volatile they can be. Danny is considering recommending growth funds specifically, and making a recommendation from the following investment options:

Based on the information provided, which mutual fund should Danny recommend?

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Correct Answer: D

Question No. 5

On which of the following does the Personal Information Protection and Electronic Documents Act (PIPEDA) impose requirements?

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Correct Answer: C