Exam CIFC Topic 1 Question 41 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 41
Topic #: 1

Daisy is a Dealing Representative registered in the province of Saskatchewan only. Daisy's client, Orville, a resident of Lloydminster, Saskatchewan is a retiree who presently has a $1,000,000 with her dealer, Easy Ride Financial. Orville is now planning to move to Vegreville, Alberta next month. Easy Ride Financial is registered in Alberta and Saskatchewan. Neither Easy Ride Financial nor Daisy have any clients who are resident in Alberta.
Which of the following should Daisy do if she wants to continue to service Orville's account?

A. Request approval from the Mutual Fund Dealers Association of Canada to be eligible to be a registered Dealing Representative in Alberta B. Daisy could seek permission from her dealer to request a client mobility exemption with the Alberta Securities Commission. C. Daisy will need to forfeit her registration in Saskatchewan if she wants to be registered in Alberta to keep Orville as a client. D. Register with a different mutual fund dealer that is registered in Alberta so she can keep Orville as a client.

Suggested Answer: B Vote an answer

Explanation
Daisy could seek permission from her dealer to request a client mobility exemption with the Alberta Securities Commission. This exemption allows a registered individual in one jurisdiction to service a client who moves to another jurisdiction, without having to register in the new jurisdiction, subject to certain conditions. Some of these conditions are that the individual must be registered with a dealer that is registered in both jurisdictions, the individual must not have more than five clients in the new jurisdiction, and the individual must notify the regulator in the new jurisdiction of the exemption. References: Client Mobility Exemption

by Phil at Jan 10, 2024, 11:54 PM

Limited Time Offer

15%

Off

Get Premium CIFC Questions as Interactive Self Test Engine or PDF

Comments

Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

RECENT DISCUSSIONS

Useful Links

Contact Us

Our Working Time: ( GMT 0:00-15:00 )
From Monday to Saturday

Support: Contact now

If you have any question please leave me your email address, we will reply and send email to you in 12 hours.

Disclaimer:
Actual4test doesn't offer Real SANS and GIAC Exam Questions.
Oracle and Java are registered trademarks of Oracle and/or its affiliates
Actual4test material do not contain actual actual Oracle Exam Questions or material.
Actual4test doesn't offer Real Microsoft Exam Questions.
Microsoft®, Azure®, Windows®, Windows Vista®, and the Windows logo are registered trademarks of Microsoft Corporation
Actual4test Materials do not contain actual questions and answers from Cisco's Certification Exams. The brand Cisco is a registered trademark of CISCO, Inc
CFA Institute does not endorse, promote or warrant the accuracy or quality of these questions. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Actual4test does not offer exam dumps or questions from actual exams. We offer learning material and practice tests created by subject matter experts to assist and help learners prepare for those exams. All certification brands used on the website are owned by the respective brand owners. Actual4test does not own or claim any ownership on any of the brands.