CISI Investment Funds in Canada (IFC)Exam IFC Question # 12 Topic 2 Discussion

CISI Investment Funds in Canada (IFC)Exam IFC Question # 12 Topic 2 Discussion

IFC Exam Topic 2 Question 12 Discussion:
Question #: 12
Topic #: 2

Jehona is a Dealing Representative with Vista Wealth Investments Inc., a mutual fund dealer in Ontario and Nova Scotia. Jehona has reviewed her client Sokol’s account and wants to adjust the holdings and re-balance the portfolio. Which of the following statements about Jehona’s permitted activities is CORRECT?


A.

If Sokol has signed a Limited Authorization Form, Jehona can process the trades in the account without Sokol's pre-approval.


B.

If Jehona wants to execute trades for Sokol's account, Sokol must provide his specific authorization before the trades are entered.


C.

If Sokol has given Jehona discretionary trading authority, Jehona can process trades in the account without Sokol's pre-approval.


D.

If Jehona wants to execute the trades without Sokol's pre-approval, Sokol must first appoint Jehona as his Power of Attorney.


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