Ific

[3GFX]

Has anyone around here taken or completed the IFIC?

I'm looking to enrol immediately and I'm looking for any tips or advice about it.

Thanks!

https://www.csi.ca/student/en_ca/courses/csi/ifc.xhtml#tabview=tab4

[Donutz]

What do you want to know? I have to ask, what is it the you intend to do with the qualification?

I used to manage a mutual fund processing team for a large organisation. For my team, I set training objectives, and at that time I mandated all of my staff take the CSC.

That said, if your goal is to work in fund administration or mid-office, IFIC is pretty good. It can help you in the front office as well if you're a wholesaler / helpdesk agent.

The IFIC course is finite in focus, so pair it up with the CSC. If you want to go into sales as an IA or RR you need the CPH as well; the prereq is for the CPH is the CSC (something to keep in mind if you don't work in the industry bc the cost is pretty high foe CSI courses).

Shoot me a PM if you need some info.

[deebro]

I'd recommend going straight for the CSC over the IFIC. It's a more intensive and quite challenging course but it gives you much more options in the future.

[Hives]

Are you also working towards your CFA? If yes, its best to concentrate towards your CFA then. Also, you can enroll in CFA/MBA programs as well.

[iconicrocket]

IFIC is mainly for mutual funds, are u trying to be a mutual funds salesman? You can get the IFIC and LLQP and start being a financial planner.

I got my CSC last December, the test is are just 100 multiple choice questions, but they're really challenging. It's nothing like the practice questions they have online.

[3GFX]

Well I'm currently applying to an open job position with TD Canada Trust. I'm currently a teller but I've had experience in opening accounts as well as providing many other services. The said position is an FSR (Financial Sales Representitive). Although I've just completed my BBA, a certification such as the IFIC is a requirement. Those looking to hire at least expect you to be enrolled.

So although I'd like to do the CSC at one point I'm thinking the IFIC is the first place to start.

I don't know very much about the programs though, and where to take them. I'm currently browsing the CSI (www.csi.ca) site which I believe is where you enrol for the course. Can I (or should I) take here? To enrol do I just buy the book and away I go until I'm comfortable enough to take an exam?

[Donutz]

You can take the courses at a college (I believe they are also included in some university ptograms), but this is quite expensive. If you have decent study habbits you can do correspondance. Make sure you get your manager to endorse your application so you can get the industry discount.

IFIC will give you some decent knowledge if you want to be an FSR. For example KYC is very important in that type of role.

If you want to move into other area's of wealth management, I would suggest the CSC. There is (used to be) one course which is a level down from the CSC called C.Op. Its like remedial CSC. :chuckle

If you aspire to financial planning / investment advice / register rep, etc. Then skip ific and go for those qual's. You should gain some understanding of KYC (and other area's of knowledge) before applying for FSR, but honestly, if you get the job you should be provided some training.

Maybe Fobio will weigh in on this thread and provide you his insight as well.

Shoot me a pm if you need any help.

[deebro]

IFIC is mainly for mutual funds, are u trying to be a mutual funds salesman? You can get the IFIC and LLQP and start being a financial planner.

I got my CSC last December, the test is are just 100 multiple choice questions, but they're really challenging. It's nothing like the practice questions they have online.

I'm currently studying for my CSC and figured the online practice wouldn't be nearly as challenging as the actual exam and you just confirmed that.

Quick question though, do they have questions that branch to others and if you get one wrong you'll likely get all the subsequent ones wrong too? [Ex. calculate the YTM for this bond, then calculate this, then this, etc..] or is it each question individual?

Any insight of helpful tips you could recommend in regards to the exam itself would be greatly appreciated.

[3GFX]

Jason do you work for TD? or another institution?

I took some time with my manager and enrolled in the IFIC today @ work. Although I'm interested in a CSC I'm more interested in the commercial side of TD. I'm exploring opportunities and the FSR is a sales role start to the rest of the company.

[iconicrocket]

I'm currently studying for my CSC and figured the online practice wouldn't be nearly as challenging as the actual exam and you just confirmed that.

Quick question though, do they have questions that branch to others and if you get one wrong you'll likely get all the subsequent ones wrong too? [Ex. calculate the YTM for this bond, then calculate this, then this, etc..] or is it each question individual?

Any insight of helpful tips you could recommend in regards to the exam itself would be greatly appreciated.

Nope, no branching. Just straight forward multiple choice. Lots of scenario questions, very little calculations, approximately 6 bond questions. You do need a financial calculator for that, don't bother doing it by hand or using a scientific calculator.

The CSC check was useful, it had lots of challenging questions but it's nothing like the exam. The sample end of chapter questions are too simple, you need the larger pool from the CSC Check to properly prepare, unless you're a genius. I swear the exam is worded entirely different from the CSC Check, just so they know you've studied the materials and not just the multiple choice answers.

A lot of my classmate either failed or barely passed (only need 60%). Don't bother writing the exam unless you get an +70% on the CSC Check for each of the chapters. I used the CSC Check a lot and since it randomly generates the questions it was good for reviewing the materials.

When you're in the examination, use the entire time allotted to go over your answers. Don't just assume they're right and leave, even though you only need 60%. BTW, when u use the computerize test your result is instant whether you've passed or failed.

I found the exam didn't test too much on the ratios, which was lucky for me since I barely studied or skipped most of that chapter. Same goes with the margin calculations. lol.

Don't forget to have valid government issue photo ID, my license had a different name and had expired. Lucky, I had my student photo ID, holy F@&K almost got kicked out of there. LMAO.

It's $100 each time you write it and the earliest you can book it is 2 weeks in advance. So book your date in advance, they get taken up fast!!! I had to do an 8AM appointment before the new year was over.

Lastly, PRAY. lol. There's lots of false answers in the exam, so read carefully all the choices. The person(s) who made up the exam put lots of effort in trying to trip you up.

Hope that helps.