CIFC practice question 21 of 30
10 years ago, Felipe opened a registered retirement savings plan (RRSP) account and purchased a mutual fund. The mutual fund purchased included a…
Choose your answer, then check it against the explanation.
10 years ago, Felipe opened a registered retirement savings plan (RRSP) account and purchased a
mutual fund. The mutual fund purchased included a 7-year deferred sales charge (DSC). At the time
of making his investment, him and his Dealing Representative agreed that he had a 25-year growth
objective. Since Felipe knew that he was not planning to use his investment until he retired, he was
not
concerned about the DSC. Although the rate of return did vary from year-to-year, he never noticed
his mutual fund having a drop in value. This gave Felipe more confidence in the investment. As a
result, he has never made any changes to his investment.
What category of Know Your Client (KYC) information has been given?
Question 21 of 30
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