Canadian Securities Course (CSC) Practice Exam · Question
What is the primary role of an 'investment counsellor' (IC)?
Investment Counsellors (ICs) typically manage discretionary portfolios for clients, meaning they have the authority to make investment decisions on behalf of cl
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Question: What is the primary role of an 'investment counsellor' (IC)?
Answer options: ✅ They manage discretionary portfolios for a fee, primarily for high-net-worth individuals and institutions.
- They execute trades for retail clients based on client instructions.
- They provide general financial planning advice, but do not manage investments.
- They underwrite new issues of securities for public companies.
Correct answer: They manage discretionary portfolios for a fee, primarily for high-net-worth individuals and institutions.
Explanation: Investment Counsellors (ICs) typically manage discretionary portfolios for clients, meaning they have the authority to make investment decisions on behalf of clients without requiring prior approval for each trade. Their clients are often high-net-worth individuals, pension funds, or endowments.
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