IFIC Mutual Funds Licensing Practice Exam · Question
When must a mutual fund dealer deliver the most recent Fund Facts document to an investor for a purchase of a mutual fund, according to NI 81-102?
National Instrument 81-102, Section 4.1(1), requires the Fund Facts document to be delivered to the purchaser no later than two business days after the dealer r
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Question: When must a mutual fund dealer deliver the most recent Fund Facts document to an investor for a purchase of a mutual fund, according to NI 81-102?
Answer options: ✅ No later than two business days after the dealer receives the investor's instruction to purchase.
- At least two business days before the dealer receives the investor's instruction to purchase.
- Immediately upon receiving the investor's instruction to purchase.
- Within 24 hours of the trade execution.
Correct answer: No later than two business days after the dealer receives the investor's instruction to purchase.
Explanation: National Instrument 81-102, Section 4.1(1), requires the Fund Facts document to be delivered to the purchaser no later than two business days after the dealer receives the purchaser's instruction to purchase.
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