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Exam CIFC Topic 4 Question 118 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 118
Topic #: 4
Derek submits an order to sell 300 units of the Evergreen Canadian Mortgage Fund at 8:00 p.m. EST on Friday, January 6. His proceeds will be based on the net asset value per unit (NAVPU) for which day (assume no holidays)?

Suggested Answer: B Vote an answer

Explanation
Mutual fund orders placed after the market closes are processed using the next business day's net asset value per unit (NAVPU). Since Derek submitted his sell order at 8:00 p.m. EST on Friday, January 6 (after the close of the markets), his proceeds will be based on the NAVPU for Monday, January 9, the next business day.
References: This information is consistent with the standard practice for mutual fund transactions as outlined in the Canadian Investment Funds Course (CIFC). The CIFC materials provided by IFSE Institute (https://www.ifse.ca/courselist/canadian-investment-funds-course-cifc/ and https://www.ifse.ca/resources/) cover the procedures and timings related to mutual fund transactions.

by Prof GK at Apr 21, 2024, 11:38 PM

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Prof GK
2024-04-21 23:38:53
The next business day is the january 10, not 9
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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.

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