Use this syllabus as your checklist for IFC. Topics and weightings are aligned to CSI’s official IFC blueprint, and sections map 1:1 to CSI curriculum chapters (Chapters 1–18).
Official sources (CSI):
Official topic weightings (IFC)
| Topic (CSI) | Weight | Target questions (of 100) |
|---|
| Introduction to the Mutual Funds Marketplace | 13% | 13 |
| The Know Your Client Communication Process | 19% | 19 |
| Understanding Investment Products and Portfolios | 18% | 18 |
| The Modern Mutual Fund | 5% | 5 |
| Analysis of Mutual Funds | 10% | 10 |
| Understanding Alternative Managed Products | 3% | 3 |
| Evaluating and Selecting Mutual Funds | 16% | 16 |
| Ethics, Compliance, and Mutual Fund Regulation | 16% | 16 |
What’s covered
Introduction to the Mutual Funds Marketplace (13%)
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Chapter 1 - The Role of the Mutual Fund Sales Representative
- Describe how the Mutual Fund Industry has evolved (concept).
- Given a scenario, apply your understanding of how the Mutual Fund Industry has evolved to interpret information and support an investment decision (concept).
- Explain the value of licensing and proficiency requirements (concept).
- Given a scenario, apply your understanding of the value of licensing and proficiency requirements to interpret information and support an investment decision (concept).
- Explain why providing excellent Client Service matters (concept).
- Given a scenario, apply your understanding of why providing excellent Client Service matters to interpret information and support an investment decision (concept).
- Explain why understanding your Clients and Products is important (concept).
- Given a scenario, apply your understanding of why understanding your Clients and Products is important to interpret information and support an investment decision (concept).
- Explain why the Know Your Client Rule and Suitability are important (concept).
- Given a scenario, apply your understanding of why the Know Your Client Rule and Suitability are important to interpret information and support an investment decision (concept).
- Describe the role of a Mutual Fund Sales Representative (concept).
- Given a scenario, apply your understanding of the role of a Mutual Fund Sales Representative to interpret information and support an investment decision (concept).
- Describe mutual fund sales in practice (concept).
- Given a scenario, apply your understanding of mutual fund sales in practice to interpret information and support an investment decision (concept).
- Given a mutual fund sales scenario, identify the representative’s role, responsibilities, and client-service priorities (concept).
Chapter 2 - Overview of the Canadian Financial Marketplace
- Define investment capital.
- Given a scenario, apply your understanding of investment capital to interpret information and support an investment decision (concept).
- Describe the Financial Instruments.
- Given a scenario, apply your understanding of the Financial Instruments to interpret information and support an investment decision (concept).
- Describe the Financial Markets.
- Given a scenario, apply your understanding of the Financial Markets to interpret information and support an investment decision (concept).
- Identify the Different Financial Intermediaries (concept).
- Given a scenario, apply your understanding of the Different Financial Intermediaries to interpret information and support an investment decision (concept).
- Define the Canadian Securities Regulatory Framework.
- Given a scenario, apply your understanding of the Canadian Securities Regulatory Framework to interpret information and support an investment decision (concept).
- Given a market scenario, identify market participants, instruments, and the Canadian regulatory framework at a high level (concept).
Chapter 3 - Overview of Economics
- Define economics.
- Given a scenario, apply your understanding of economics to interpret information and support an investment decision (concept).
- Explain how economic Growth Measured (concept).
- Given a scenario, apply your understanding of how economic Growth Measured to interpret information and support an investment decision (concept).
- Describe the Phases of the Business Cycle.
- Given a scenario, apply your understanding of the Phases of the Business Cycle to interpret information and support an investment decision (concept).
- Describe the Key Labour Market Indicators.
- Given a scenario, apply your understanding of the Key Labour Market Indicators to interpret information and support an investment decision (concept).
- Explain what Role do Interest Rates Play (concept).
- Given a scenario, apply your understanding of what Role do Interest Rates Play to interpret information and support an investment decision (concept).
- Define the Nature of Money and Inflation.
- Given a scenario, apply your understanding of the Nature of Money and Inflation to interpret information and support an investment decision (concept).
- Explain how fiscal and Monetary Policies and International Economics Impact the Economy (concept).
- Given a scenario, apply your understanding of how fiscal and Monetary Policies and International Economics Impact the Economy to interpret information and support an investment decision (concept).
- Given an economic scenario, interpret how rates, inflation, and the business cycle can affect client portfolios (concept).
The Know Your Client Communication Process (19%)
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Chapter 4 - Getting to Know the Client
- Explain why client Communication and Planning are important (concept).
- Given a scenario, apply your understanding of why client Communication and Planning are important to choose an appropriate communication, suitability, or compliance action (concept).
- Define the Financial Planning Approach.
- Given a scenario, apply your understanding of the Financial Planning Approach to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Steps in the Financial Planning Process.
- Given a scenario, apply your understanding of the Steps in the Financial Planning Process to choose an appropriate communication, suitability, or compliance action (concept).
- Define the Life-Cycle Hypothesis.
- Given a scenario, apply your understanding of the Life-Cycle Hypothesis to choose an appropriate communication, suitability, or compliance action (concept).
- Given a new-client interview, gather KYC facts and summarize objectives, constraints, and suitability considerations (concept).
Chapter 5 - Behavioural Finance
- Describe investor Behaviour (concept).
- Given a scenario, apply your understanding of investor Behaviour to choose an appropriate communication, suitability, or compliance action (concept).
- Explain how representatives Apply Bias Diagnoses when Structuring Asset Allocations (concept).
- Given a scenario, apply your understanding of how representatives Apply Bias Diagnoses when Structuring Asset Allocations to choose an appropriate communication, suitability, or compliance action (concept).
- Given a behaviour-driven scenario, recognize common behavioural biases and adapt communication accordingly (concept).
Chapter 6 - Tax and Retirement Planning
- Explain how the Canadian Taxation System Work (concept).
- Given a scenario, apply your understanding of how the Canadian Taxation System Work to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Main Pension Plans in Canada.
- Given a scenario, apply your understanding of the Main Pension Plans in Canada to choose an appropriate communication, suitability, or compliance action (concept).
- Describe tax Deferral Plans.
- Given a scenario, apply your understanding of tax Deferral Plans to choose an appropriate communication, suitability, or compliance action (concept).
- Given a planning scenario, identify core tax and retirement considerations that influence product and account choices (concept).
Understanding Investment Products and Portfolios (18%)
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Chapter 7 - Types of Investment Products and How They Are Traded
- Describe fixed-Income Securities.
- Given a scenario, apply your understanding of fixed-Income Securities to select or evaluate an appropriate product or portfolio action (concept).
- Describe the Fundamentals of Bond Pricing and Properties.
- Given a scenario, apply your understanding of the Fundamentals of Bond Pricing and Properties to select or evaluate an appropriate product or portfolio action (concept).
- Describe equity Securities.
- Given a scenario, apply your understanding of equity Securities to select or evaluate an appropriate product or portfolio action (concept).
- Explain how are New Securities Brought to Market (concept).
- Given a scenario, apply your understanding of how are New Securities Brought to Market to select or evaluate an appropriate product or portfolio action (concept).
- Describe derivative Securities.
- Given a scenario, apply your understanding of derivative Securities to select or evaluate an appropriate product or portfolio action (concept).
- Given an investment product scenario, classify the product and describe how it is traded at a high level (concept).
Chapter 8 - Constructing Investment Portfolios
- Define risk and Return.
- Given a scenario, apply your understanding of risk and Return to select or evaluate an appropriate product or portfolio action (concept).
- Describe the Impacts of Economic Conditions in Comparing Returns.
- Given a scenario, apply your understanding of the Impacts of Economic Conditions in Comparing Returns to select or evaluate an appropriate product or portfolio action (concept).
- Describe how to Calculate a Return (concept).
- Given a scenario, apply your understanding of how to Calculate a Return to select or evaluate an appropriate product or portfolio action (concept).
- Describe how to Measure Risk (concept).
- Given a scenario, apply your understanding of how to Measure Risk to select or evaluate an appropriate product or portfolio action (concept).
- Define portfolio Analysis.
- Given a scenario, apply your understanding of portfolio Analysis to select or evaluate an appropriate product or portfolio action (concept).
- Describe how are Portfolios Managed (concept).
- Given a scenario, apply your understanding of how are Portfolios Managed to select or evaluate an appropriate product or portfolio action (concept).
- Describe the Methods of Analysis.
- Given a scenario, apply your understanding of the Methods of Analysis to select or evaluate an appropriate product or portfolio action (concept).
- Given client constraints, propose a basic portfolio approach and explain diversification and allocation choices (concept).
Chapter 9 - Understanding Financial Statements
- Describe the Financial Statements.
- Given a scenario, apply your understanding of the Financial Statements to interpret information and support an investment decision (concept).
- Define the Statement of Financial Position.
- Given a scenario, apply your understanding of the Statement of Financial Position to interpret information and support an investment decision (concept).
- Define the Statement of Comprehensive Income.
- Given a scenario, apply your understanding of the Statement of Comprehensive Income to interpret information and support an investment decision (concept).
- Define the Statement of Changes in Equity.
- Given a scenario, apply your understanding of the Statement of Changes in Equity to interpret information and support an investment decision (concept).
- Define financial Statement Analysis.
- Given a scenario, apply your understanding of financial Statement Analysis to interpret information and support an investment decision (concept).
- Given simplified financial statements, interpret key items and explain implications for risk and performance (concept).
The Modern Mutual Fund (5%)
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Chapter 10 - The Modern Mutual Fund
- Define a Mutual Fund.
- Given a scenario, apply your understanding of a Mutual Fund to select or evaluate an appropriate product or portfolio action (concept).
- Describe how are Mutual Funds Organized (concept).
- Given a scenario, apply your understanding of how are Mutual Funds Organized to select or evaluate an appropriate product or portfolio action (concept).
- Describe how are Mutual Funds Regulated (concept).
- Given a scenario, apply your understanding of how are Mutual Funds Regulated to select or evaluate an appropriate product or portfolio action (concept).
- Given a mutual fund description, explain structure, pricing (NAV), and how investors buy/sell units (concept).
Analysis of Mutual Funds (10%)
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Chapter 11 - Conservative Mutual Fund Products
- Describe money Market Mutual Funds.
- Given a scenario, apply your understanding of money Market Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe mortgage Mutual Funds.
- Given a scenario, apply your understanding of mortgage Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe bond and Other Fixed-Income Funds.
- Given a scenario, apply your understanding of bond and Other Fixed-Income Funds to select or evaluate an appropriate product or portfolio action (concept).
- Given a conservative investor profile, match suitable conservative mutual fund types and explain key risks (concept).
Chapter 12 - Riskier Mutual Fund Products
- Describe equity Mutual Funds.
- Given a scenario, apply your understanding of equity Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe balanced Mutual Funds.
- Given a scenario, apply your understanding of balanced Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe global Mutual Funds.
- Given a scenario, apply your understanding of global Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe specialty Mutual Funds.
- Given a scenario, apply your understanding of specialty Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Given a higher-risk profile, match suitable equity/balanced/global/specialty mutual fund types and explain key risks (concept).
- Explain how portfolio Performance Evaluated (concept).
- Given a scenario, apply your understanding of how portfolio Performance Evaluated to interpret information and support an investment decision (concept).
- Explain how performance Assessment Conducted (concept).
- Given a scenario, apply your understanding of how performance Assessment Conducted to interpret information and support an investment decision (concept).
- Explain how a Comparison Universe Used (concept).
- Given a scenario, apply your understanding of how a Comparison Universe Used to interpret information and support an investment decision (concept).
- Explain how quartile Ranking Used (concept).
- Given a scenario, apply your understanding of how quartile Ranking Used to interpret information and support an investment decision (concept).
- Given a performance report, interpret performance measures and compare results to an appropriate benchmark/peer universe (concept).
Understanding Alternative Managed Products (3%)
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Chapter 13 - Alternative Managed Products
- Describe principal-Protected Notes.
- Given a scenario, apply your understanding of principal-Protected Notes to select or evaluate an appropriate product or portfolio action (concept).
- Describe hedge Funds.
- Given a scenario, apply your understanding of hedge Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe closed-End Funds.
- Given a scenario, apply your understanding of closed-End Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe exchange-Traded Funds.
- Given a scenario, apply your understanding of exchange-Traded Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe segregated Funds.
- Given a scenario, apply your understanding of segregated Funds to select or evaluate an appropriate product or portfolio action (concept).
- Given a client need, compare alternative managed products and identify unique risks such as liquidity, guarantees, and complexity (concept).
Evaluating and Selecting Mutual Funds (16%)
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Chapter 15 - Selecting a Mutual Fund
- Explain how volatility impact Mutual Fund Returns (concept).
- Given a scenario, apply your understanding of how volatility impact Mutual Fund Returns to select or evaluate an appropriate product or portfolio action (concept).
- Describe the Steps in Selecting a Mutual Fund.
- Given a scenario, apply your understanding of the Steps in Selecting a Mutual Fund to select or evaluate an appropriate product or portfolio action (concept).
- Explain what Other Elements should be Considered when Analyzing and Selecting Mutual Funds (concept).
- Given a scenario, apply your understanding of what Other Elements should be Considered when Analyzing and Selecting Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Given client objectives and constraints, apply a structured process to evaluate and select mutual funds (concept).
Chapter 16 - Mutual Fund Fees and Services
- Describe the Fees and Charges of Mutual Funds.
- Given a scenario, apply your understanding of the Fees and Charges of Mutual Funds to select or evaluate an appropriate product or portfolio action (concept).
- Describe accumulation Plans.
- Given a scenario, apply your understanding of accumulation Plans to select or evaluate an appropriate product or portfolio action (concept).
- Describe systematic Withdrawal Plans.
- Given a scenario, apply your understanding of systematic Withdrawal Plans to select or evaluate an appropriate product or portfolio action (concept).
- Describe how are Mutual Funds Taxed (concept).
- Given a scenario, apply your understanding of how are Mutual Funds Taxed to select or evaluate an appropriate product or portfolio action (concept).
- Given fee structures, compare costs and explain how fees and services affect client outcomes (concept).
Ethics, Compliance, and Mutual Fund Regulation (16%)
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Chapter 17 - Mutual Fund Dealer Regulation
- Describe the Mandate and Scope of Securities Administrators.
- Given a scenario, apply your understanding of the Mandate and Scope of Securities Administrators to choose an appropriate communication, suitability, or compliance action (concept).
- Describe self-Regulatory Organizations.
- Given a scenario, apply your understanding of self-Regulatory Organizations to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Registration Requirements.
- Given a scenario, apply your understanding of the Registration Requirements to choose an appropriate communication, suitability, or compliance action (concept).
- Explain how representatives and Dealers meet the Know Your Client Rules (concept).
- Given a scenario, apply your understanding of how representatives and Dealers meet the Know Your Client Rules to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Steps in Opening a Mutual Fund Account.
- Given a scenario, apply your understanding of the Steps in Opening a Mutual Fund Account to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Prohibited Selling Practices.
- Given a scenario, apply your understanding of the Prohibited Selling Practices to choose an appropriate communication, suitability, or compliance action (concept).
- Describe the Rules for Communications with Clients.
- Given a scenario, apply your understanding of the Rules for Communications with Clients to choose an appropriate communication, suitability, or compliance action (concept).
- Describe your Other Legal Responsibilities.
- Given a scenario, apply your understanding of your Other Legal Responsibilities to choose an appropriate communication, suitability, or compliance action (concept).
- Given a dealer scenario, identify regulatory requirements and appropriate supervision/recordkeeping actions (concept).
Chapter 18 - Applying Ethical Standards to What You Have Learned
- Describe ethics and the Standard of Conduct.
- Given a scenario, apply your understanding of ethics and the Standard of Conduct to choose an appropriate communication, suitability, or compliance action (concept).
- Explain how to Apply What You’ve Learned to Case Studies (concept).
- Given a scenario, apply your understanding of how to Apply What You’ve Learned to Case Studies to choose an appropriate communication, suitability, or compliance action (concept).
- Given an ethical dilemma, choose the most appropriate action and justify it using ethical standards (concept).
Tip: Treat every learning objective as a “can I answer a question about this in 60 seconds?” test. If not, add it to your miss log and drill it again in 48–72 hours.