IFSE Institute CIFC Exam - Topic 5 Question 15 Discussion

Actual exam question for IFSE Institute's CIFC exam

Question #: 15
Topic #: 5

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

Limited Time Offer

25%

Off

Get Premium CIFC Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Jonelle

1 month ago

No way, it's definitely B) Monday, January 9. Weekends don't count for NAV calculations.

upvoted 0 times

...

Jacob

1 month ago

I'm leaning towards A) Friday, January 6. It feels like it should count since he submitted before the weekend.

upvoted 0 times

...

Leanora

1 month ago

I agree, B) makes sense. NAVPU is calculated at the end of the trading day.

upvoted 0 times

...

Fabiola

2 months ago

I think it's B) Monday, January 9. Orders after hours usually get processed next business day.

upvoted 0 times

...

Quinn

2 months ago

I feel it's B) Monday too. NAVPU is calculated at the end of the trading day.

upvoted 0 times

...

Ty

2 months ago

No, it's A) Friday, January 6. He submitted before market close.

upvoted 0 times

...

Hailey

2 months ago

I agree with Dominga. The market is closed on weekends.

upvoted 0 times

...

Dominga

2 months ago

I think it's B) Monday, January 9. Orders after hours usually get processed next business day.

upvoted 0 times

...

Mitsue

2 months ago

I’m leaning towards Tuesday, January 10. It takes time to process.

upvoted 0 times

...

Salome

3 months ago

I agree with Audry. Orders after hours go to the next business day.

upvoted 0 times

...

Bok

3 months ago

No way, it's definitely Friday, January 6. He submitted it before the market closed!

upvoted 0 times

...

Audry

3 months ago

I think it's Monday, January 9. That's when the market opens.

upvoted 0 times

...

Iraida

3 months ago

Are you sure it's not Friday? I thought it could be processed then.

upvoted 0 times

...

Valentin

3 months ago

Definitely Monday, that's how it works!

upvoted 0 times

...

Tamar

5 months ago

Wait, so he won't get Friday's value? That seems odd.

upvoted 0 times

...

Gail

5 months ago

Totally agree, it goes to the next business day.

upvoted 0 times

...

Lura

5 months ago

It's based on Monday's NAVPU since the order was after hours.

upvoted 0 times

...

Amie

5 months ago

Are you sure it's not Friday? I thought it could be processed then.

upvoted 0 times

...

Regenia

6 months ago

Definitely Monday, that's how it works!

upvoted 0 times

...

Valene

6 months ago

Wait, so he won't get Friday's value? That seems odd.

upvoted 0 times

...

Rolf

6 months ago

Totally agree, it goes to the next business day.

upvoted 0 times

...

Ilda

6 months ago

It's based on Monday's NAVPU since the order was after hours.

upvoted 0 times

...

Elena

6 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!

upvoted 0 times

...

Mel

6 months ago

This seems similar to a practice question we did about mutual fund transactions. I think it’s definitely Monday, January 9.

upvoted 0 times

...

Shanda

7 months ago

I’m not entirely sure, but I remember something about orders submitted after hours being processed the next day.

upvoted 0 times

...

Dierdre

7 months ago

I think the NAVPU would be based on the next business day, so that would be Monday, January 9, right?

upvoted 0 times

...