Exam CIFC Topic 1 Question 214 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 214
Topic #: 1
Sean purchases 500 units of Penn Canadian Equity Fund when the net asset value per unit (NAVPU) is
$16.70. On December 15, the mutual fund's NAVPU is $21. On December 16, the mutual fund declares a distribution of $1.25 per unit. Sean's distribution is immediately reinvested and he purchases additional units of the mutual fund.
Which of the following statements about the effect of the distribution is correct?

Suggested Answer: A Vote an answer

by Prudence at Oct 23, 2024, 11:10 AM

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