IFIC Mutual Funds Licensing Practice Exam · Question
What is the primary role of the Mutual Fund Dealers Association of Canada (MFDA)?
The MFDA is the self-regulatory organization (SRO) for mutual fund dealers in Canada. Its mandate is to regulate the operations, standards of practice, and busi
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Question: What is the primary role of the Mutual Fund Dealers Association of Canada (MFDA)?
Answer options:
- To regulate Canadian banks.
- To set interest rates for the economy. ✅ To regulate the operations and practices of mutual fund dealers and their representatives in Canada.
- To manage and invest the assets of mutual funds.
Correct answer: To regulate the operations and practices of mutual fund dealers and their representatives in Canada.
Explanation: The MFDA is the self-regulatory organization (SRO) for mutual fund dealers in Canada. Its mandate is to regulate the operations, standards of practice, and business conduct of its members and their representatives to protect public interest.
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