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IFSE Institute CIFC Exam - Topic 5 Question 15 Discussion

Derek submits an order to sell 300 units of the Evergreen Canadian Mortgage Fund at 8:00 p.m. EST on Friday, January 6. His proceeds will be based on the net asset value per unit (NAVPU) for which day (assume no holidays)?
B) Monday, January 9
A) Friday, January 6
C) Tuesday, January 10
D) Wednesday, January 11

IFSE Institute CIFC Exam - Topic 5 Question 15 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 15
Topic #: 5
[All CIFC Questions]

Derek submits an order to sell 300 units of the Evergreen Canadian Mortgage Fund at 8:00 p.m. EST on Friday, January 6. His proceeds will be based on the net asset value per unit (NAVPU) for which day (assume no holidays)?

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Suggested Answer: B

by Denny at Mar 03, 2026, 11:33 AM

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Fabiola
2 days ago
I think it's B) Monday, January 9. Orders after hours usually get processed next business day.
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Quinn
8 days ago
I feel it's B) Monday too. NAVPU is calculated at the end of the trading day.
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Ty
13 days ago
No, it's A) Friday, January 6. He submitted before market close.
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Hailey
18 days ago
I agree with Dominga. The market is closed on weekends.
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Dominga
23 days ago
I think it's B) Monday, January 9. Orders after hours usually get processed next business day.
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Mitsue
28 days ago
I’m leaning towards Tuesday, January 10. It takes time to process.
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Salome
1 month ago
I agree with Audry. Orders after hours go to the next business day.
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Bok
1 month ago
No way, it's definitely Friday, January 6. He submitted it before the market closed!
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Audry
1 month ago
I think it's Monday, January 9. That's when the market opens.
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Iraida
2 months ago
Are you sure it's not Friday? I thought it could be processed then.
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Valentin
2 months ago
Definitely Monday, that's how it works!
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Tamar
3 months ago
Wait, so he won't get Friday's value? That seems odd.
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Gail
3 months ago
Totally agree, it goes to the next business day.
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Lura
4 months ago
It's based on Monday's NAVPU since the order was after hours.
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Amie
4 months ago
Are you sure it's not Friday? I thought it could be processed then.
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Regenia
4 months ago
Definitely Monday, that's how it works!
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Valene
4 months ago
Wait, so he won't get Friday's value? That seems odd.
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Rolf
4 months ago
Totally agree, it goes to the next business day.
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Ilda
5 months ago
It's based on Monday's NAVPU since the order was after hours.
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Elena
5 months ago
I’m confused because I thought weekends didn’t count, but does that mean it’s Tuesday instead? I need to double-check that!
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Mel
5 months ago
This seems similar to a practice question we did about mutual fund transactions. I think it’s definitely Monday, January 9.
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Shanda
5 months ago
I’m not entirely sure, but I remember something about orders submitted after hours being processed the next day.
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Dierdre
5 months ago
I think the NAVPU would be based on the next business day, so that would be Monday, January 9, right?
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