Free CSI IFC Practice Exam Questions and Answers 2026

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Total 490 Questions | Updated On: Apr 02, 2026

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Question 1

Ken is a member of his employer’s Defined Benefit Pension Plan (DBPP). Which of the following statementsabout Ken’s plan is CORRECT?

A : Contributions to the plan do not result in a Pension Adjustment (PA) for Ken.

B : The amount Ken receives in retirement depends on the performance of the investments he has selectedwithin the plan.

C : The amount that Ken will receive at retirement is not guaranteed.

D : Income received from the plan is eligible for pension income splitting even if Ken retires before 65.

Answer: D

Question 2

Why is it important to include ethical decision-making as a Standard of Conduct?

A : Ensures conformity with externally established standards.

B : Enables CIRO to regulate the actions and behaviours of registered individuals.

C : Provides flexibility so registrants can use their own judgement.

D : Allows the security industry to operate with the trust and confidence of the public.

Answer: D

Question 3

Manuel is a Dealing Representative for Commonwealth Financial Inc., a mutual fund dealer. His dealerrepresents many different mutual fund families available, including their own: CF Group of Funds. He isconsidering recommending a CF equity fund to one of his clients, Stefania. While describing details about thefund, he informs her that accounts are set-up in nominee name, and that their mutual funds are nottransferable. In addition, the fund does pay trailer fees.What type of information has Manuel described about his potential investment recommendation?

A : The material conflict of interest

B : Features of a locked-in plan

C : Excessive trading

D : A Letter of Engagement

Answer: A

Question 4

Sagira is a Compliance Officer with WealthPath Investments Inc., a registered mutual fund dealer. Sagiraroutinely answers inquiries from the firm's Dealing Representatives and offers guidance.Which of the following statements would Sagira likely agree is a permitted activity for DealingRepresentatives to have with clients?

A : Positions of influence are permitted if the terms and conditions of the regulator are met and the activityis approved by the dealer.

B : Borrowing from clients is prohibited, but personal loans to clients may be offered.

C : Purchasing real property from clients is permitted if there is a written agreement in place and the firm isparty to the agreement.

D : Authority granted to a Dealing Representative over a client's account or finances must be documentedunder a Power of Attorney.

Answer: A

Question 5

As per CIRO policy, what is a required step after receiving an emailed client complaint regardingdissatisfaction with a product?

A : Acknowledge the complaint in writing

B : Make contact to collect additional information

C : Notify senior management

D : Send a copy of the complaint to CIRO

Answer: A

Page: 1 / 98

Total 490 Questions | Updated On: Apr 02, 2026

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