Exam CIFC Topic 1 Question 27 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 27
Topic #: 1

Sheldon is a 25 year old graphic designer. He has just started working and saves regularly. Apart from his regular salary he also earns extra money from freelancing after office hours and during weekends. His earnings from his freelance work are sufficient for meeting his living expenses. He saves the entire amount of his salary. He has heard about lifecycle funds but has come to you for additional information.
Which of the following statement about lifecycle funds is TRUE?

A. As Sheldon gets older, the life cycle asset allocation changes from more risky to less risky. B. The asset allocation of a lifecycle fund is set based on the age demographic of its unitholders and remains the same for the time frame of the lifecycle fund. C. All lifecycle funds start with equal allocations to cash, fixed income and equities before being re-balanced. D. Investor income is the only basis for changing the asset allocation of a lifecycle mutual fund.

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