Question 1

10 years ago, Felipe opened a registered retirement savings plan (RRSP) account and purchased a mutualfund. The mutual fund purchased included a 7-year deferred sales charge (DSC). At the time of making hisinvestment, him and his Dealing Representative agreed that he had a 25-year growth objective. Since Felipeknew that he was not planning to use his investment until he retired, he was notconcerned about the DSC. Although the rate of return did vary from year-to-year, he never noticed his mutualfund having a drop in value. This gave Felipe more confidence in the investment. As a result, he has nevermade any changes to his investment.What category of Know Your Client (KYC) information has been given?

Options :

A : Financial circumstances

B : Investment experience

C : Risk profile

D : Personal circumstances

Answer: B

Question 2

What term describes the range of possible future outcomes on the price of a security?

Options :

A : Beta

B : Risk

C : Fluctuation

D : Return

Answer: B

Question 3

As per CIRO policy, what is a required step after receiving an emailed client complaint regardingdissatisfaction with a product?

Options :

A : Acknowledge the complaint in writing

B : Make contact to collect additional information

C : Notify senior management

D : Send a copy of the complaint to CIRO

Answer: A

Question 4

Your employer has a contributory group RRSP under which he matches employee contributions, up to amaximum of 5% of salary.Which of the following statements about a group registered retirement savings plan (RRSP) is CORRECT?

Options :

A : It is more costly and time consuming to administer than traditional pension plans.

B : If you leave your employer, your group RRSP stays with the employer.

C : You need to wait until you file your taxes to receive your contribution tax deduction.

D : The employer chooses the plan provider.

Answer: D

Question 5

Why is it important to include ethical decision-making as a Standard of Conduct?

Options :

A : Ensures conformity with externally established standards.

B : Enables CIRO to regulate the actions and behaviours of registered individuals.

C : Provides flexibility so registrants can use their own judgement.

D : Allows the security industry to operate with the trust and confidence of the public.

Answer: D