90 day training IFSE EXAM QUESTIONS AND
CORRECT ANSWERS
answer - discount broker
answer - Robo-Advisor
answer - DJIA (Dow Jones Industrial Average)
1) New York
2)Toronto
3)San Fresco
4)Boston
5) Montreal answer - Top 5 Financial Centers in North America
Common shares, Preferred shares answer - examples of equities
Bonds, Debentures answer - examples of Fixed income
- option contract
- futures contract
- forward contract
- interest rate or foreign currency swap answer - examples of derivatives
Mutual funds, Exchange-traded funds answer - Examples of investment funds
,companies who wish to raise capital to fund projects, growth and expansion answer - Issuer
Participants who ear profits from management fees, portfolio management fees, and
performance fees answer - manufacturer
participants who supply capital through their purchase of investment products answer -
investor
companies who sell securities to investors answer - Distributor
These institutions are designated in the Bank Act and refer to Canadian-owned banks. They are
entitled to many operations including accepting deposits, creating branches, and loaning
money. Examples include the Big Five, President's Choice, Tangerine, and Laurentian. answer -
Schedule 1 Banks
These institutions are designated in the Bank Act and refer to foreign-owned banks. These
banks may also accept deposits, create branches, and loan money but their numbers are
regulated by the government. Examples include HSBC, Citibank, BNP Paribas, and Bank of China.
answer - Schedule 2 Banks
These institutions are foreign-owned banks that have been given permission to conduct
business in Canada. They are not incorporated with the bank act, and operate under
restrictions. Examples include UBS, Deutsche Bank, Barclays, and Capital One. answer -
Schedule 3 Banks
is the federal legislation which governs how banks are required to operate in Canada. The Act is
intended to ensure that banks:
- remains in strong financial condition
-maintain proper governance, risk management, and compliance
, -meet the established requirements designed to protect the rights and interests of the
consumers of banking services answer - . The Bank Act
-Access to Basic Banking Services
-Access to Funds
- Complaints answer - The Bank Act is legislation established by federal parliamentary statute. A
number of regulations related to consumer rights and protections have been made under the
Act including:
is the federal government ministry responsible for developing, maintaining, and overseeing
programs related to the financial affairs of Canada including those encompassing:
-economics
-fiscal budget
-federal tax
-federal borrowing
-trade and tariffs
-transfers to the provinces and territories
-financial sector policy and legislation answer - Department of Finance
The Minister of Finance is the head of the Department of Finance and is ultimately responsible
ensuring that the Canadian financial system remains strong and sound. In particular, the
Minister of Finance has direct responsibility for a number of agencies and crown corporations
including those listed in the table below.
The Minister of Finance also has direct statutory authority for a number of federal Acts
including the following:
• Bank Act • Bank of Canada Act • Financial Institutions and Deposit Insurance System
Amendment Act • Financial Institutions Depositors Compensation Act • Insurance Companies
CORRECT ANSWERS
answer - discount broker
answer - Robo-Advisor
answer - DJIA (Dow Jones Industrial Average)
1) New York
2)Toronto
3)San Fresco
4)Boston
5) Montreal answer - Top 5 Financial Centers in North America
Common shares, Preferred shares answer - examples of equities
Bonds, Debentures answer - examples of Fixed income
- option contract
- futures contract
- forward contract
- interest rate or foreign currency swap answer - examples of derivatives
Mutual funds, Exchange-traded funds answer - Examples of investment funds
,companies who wish to raise capital to fund projects, growth and expansion answer - Issuer
Participants who ear profits from management fees, portfolio management fees, and
performance fees answer - manufacturer
participants who supply capital through their purchase of investment products answer -
investor
companies who sell securities to investors answer - Distributor
These institutions are designated in the Bank Act and refer to Canadian-owned banks. They are
entitled to many operations including accepting deposits, creating branches, and loaning
money. Examples include the Big Five, President's Choice, Tangerine, and Laurentian. answer -
Schedule 1 Banks
These institutions are designated in the Bank Act and refer to foreign-owned banks. These
banks may also accept deposits, create branches, and loan money but their numbers are
regulated by the government. Examples include HSBC, Citibank, BNP Paribas, and Bank of China.
answer - Schedule 2 Banks
These institutions are foreign-owned banks that have been given permission to conduct
business in Canada. They are not incorporated with the bank act, and operate under
restrictions. Examples include UBS, Deutsche Bank, Barclays, and Capital One. answer -
Schedule 3 Banks
is the federal legislation which governs how banks are required to operate in Canada. The Act is
intended to ensure that banks:
- remains in strong financial condition
-maintain proper governance, risk management, and compliance
, -meet the established requirements designed to protect the rights and interests of the
consumers of banking services answer - . The Bank Act
-Access to Basic Banking Services
-Access to Funds
- Complaints answer - The Bank Act is legislation established by federal parliamentary statute. A
number of regulations related to consumer rights and protections have been made under the
Act including:
is the federal government ministry responsible for developing, maintaining, and overseeing
programs related to the financial affairs of Canada including those encompassing:
-economics
-fiscal budget
-federal tax
-federal borrowing
-trade and tariffs
-transfers to the provinces and territories
-financial sector policy and legislation answer - Department of Finance
The Minister of Finance is the head of the Department of Finance and is ultimately responsible
ensuring that the Canadian financial system remains strong and sound. In particular, the
Minister of Finance has direct responsibility for a number of agencies and crown corporations
including those listed in the table below.
The Minister of Finance also has direct statutory authority for a number of federal Acts
including the following:
• Bank Act • Bank of Canada Act • Financial Institutions and Deposit Insurance System
Amendment Act • Financial Institutions Depositors Compensation Act • Insurance Companies
