IFIC Mutual Funds Licensing Practice Exam · Question
Ms. Harper, a 30-year-old professional, tells her advisor that she plans to buy a home within the next 3-5 years and hopes to retire by age 60. When completing her Know Your Client (KYC) documentation, under which category would the advisor primarily record her intention to purchase a home?
Buying a home is a specific financial goal Ms. Harper wishes to achieve, making it an investment objective. Her retirement plans are also objectives, but the ho
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Question: Ms. Harper, a 30-year-old professional, tells her advisor that she plans to buy a home within the next 3-5 years and hopes to retire by age 60. When completing her Know Your Client (KYC) documentation, under which category would the advisor primarily record her intention to purchase a home?
Answer options:
- Risk Tolerance
- Time Horizon
- Income Needs ✅ Investment Objectives
Correct answer: Investment Objectives
Explanation: Buying a home is a specific financial goal Ms. Harper wishes to achieve, making it an investment objective. Her retirement plans are also objectives, but the home purchase is a more immediate one.
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