IFIC Mutual Funds Licensing Practice Exam · Question
According to NI 81-102, when must a Fund Facts document be delivered to a client who is purchasing a mutual fund?
NI 81-102 mandates that an investor must be delivered the most recent Fund Facts document no later than two business days after the investment was made. This al
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Question: According to NI 81-102, when must a Fund Facts document be delivered to a client who is purchasing a mutual fund?
Answer options: ✅ No later than two business days after the investment was made.
- At the time the account is opened.
- Within one business day after the order is processed.
- Prior to the sale of the mutual fund.
Correct answer: No later than two business days after the investment was made.
Explanation: NI 81-102 mandates that an investor must be delivered the most recent Fund Facts document no later than two business days after the investment was made. This allows investors time to review key information shortly after their transaction.
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