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)?

AFriday, January 6

BMonday, January 9

CTuesday, January 10

DWednesday, January 11

Show Suggested Answer

Suggested Answer: B

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

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Mel

42 seconds 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 days 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

10 days 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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