Sarah, a mutual fund representative, is meeting with a new client, Mr. Chen, to open an investment account. Which of the following is the MOST crucial piece of information Sarah needs to gather from Mr. Chen to fulfill her Know Your Client (KYC) obligations?

Question: Sarah, a mutual fund representative, is meeting with a new client, Mr. Chen, to open an investment account. Which of the following is the MOST crucial piece of information Sarah needs to gather from Mr. Chen to fulfill her Know Your Client (KYC) obligations?

Answer options:

• His current employer and job title.
• His preferred investment style (e.g., aggressive, conservative). ✅ His Social Insurance Number (SIN) and date of birth.
• His favourite hobbies and vacation destinations.

Correct answer: His Social Insurance Number (SIN) and date of birth.

Explanation: To meet KYC obligations, representatives must gather personal information like SIN and date of birth for identification, tax reporting, and age verification purposes. While investment style is important, SIN and date of birth are fundamental for account opening and regulatory compliance.