In this chapter, we describe the interrelationships between the various participants in the Canadian securities industry. In particular, we discuss the important role that investment dealers and other financial intermediaries play in channelling funds between lenders and borrowers.
This chapter provides an introduction to economics, wherein you will learn about the effect of microeconomic and macroeconomic environments on the financial markets. You will learn how economic growth is measured, and how certain factors determine the health of the economy and help predict the direction the markets might take. You will also learn to understand the indicators that influence investment decision-making, including the phases of the business cycle, the condition of the labour market, and the current state of interest rates. Finally, you will learn to analyze the effect of international economics on the domestic investing environment.
In this chapter, you will learn about economic policy, both fiscal and monetary, and the impact of government policy decisions on the investment landscape. In this context, you will learn about the roles and functions of the Bank of Canada and the challenges that governments face in setting their economic policies.
In this chapter, you will learn about the fixed-income marketplace and the rationale for using fixed-income securities. You will become familiar with the terminology used to discuss bonds, debentures, and other types of fixed-income securities, and you will learn to distinguish among the different types used by governments and corporations. Finally, you will learn how to read bond quotes and ratings.
In this chapter, you will learn how to calculate the price and yield of fixed-income securities. You will also learn about interest rates on bonds, including the difference between the nominal and the real rate of return, how interest rates are depicted on a yield curve, and how they are determined according to three theoretical principles. You will then learn how and why bond prices go up or down according to certain fixed-income pricing properties. Next, you will learn about bond trading and the rules and regulations around the delivery of bonds and the settlement of transactions. Finally, you will learn how bond indexes are used by portfolio managers as performance measurement tools and to construct bond index funds.
In this chapter, you will learn the basic features of equity securities, a category that includes common and preferred shares. We explain the investment considerations of the two broad categories, and we compare the advantages and disadvantages of investing in either type. Finally, we describe the important role played by Canadian, U.S., and global stock market indexes.
In this chapter, we provide a brief introduction to managed products. We then focus specifically on one of the most widely recognized managed products-mutual funds. We discuss various mutual fund structures and explain the rules and regulations of the industry. We then discuss the importance of Know Your Client and suitability requirements in the context of mutual funds. Finally, you will learn about the requirements around documentation and disclosure.
In this chapter, you will learn about the regulation, structure, and taxation of exchange-traded funds. We will also discuss features, risks, and various types of exchanged-traded funds, as well as common strategies.
In this chapter, you will learn about alternative investments, including hedge funds and alternative mutual funds. You will learn about the benefits and risks of investing in these types of products, and you will learn the structure of alternative investments and how they differ from conventional mutual funds.
In this chapter, you will learn about additional types of managed products, including their structure and characteristics, their regulatory issues and tax considerations.
In this chapter, you will learn about the features of structured products in general, including their benefits and risks. You will also learn how different products are structured, and what risks and tax implications are associated with the different types.
In this chapter, you will learn the basics of taxation, including the tax features of pension income, tax deferral plans, and tax free savings plans in Canada. We explain how the different types of income are taxed and identify the expenses related to investment income that might be tax-deductible. We also explain the two main types of pension plans and the different types of tax deferral and Tax-Free registered plans. Finally, you will learn some basic tax planning strategies.
In this chapter, you will learn about the various types of fee-based accounts, both managed and unmanaged.
CSI’s online learning system helps you meet your study goals. You’ll benefit from:
Upon successfully completing this course, you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.
You can also accept a digital badge through your student profile after successful course completion. Digital badges are portable image files that allow you to share your credentials across the web. You can post them to your email signature, personal website, social media channels—even to electronic copies of your resume.
CSI will mail you a wall certificate within 4 – 6 weeks of course completion. Frames to display your certificate are available. Please ensure that your First and Last Name on your profile matches your First and Last Name on your Government Issued Photo identification – this will ensure you receive an accurate certificate.
CSI will be pleased to issue an Honours Certificate to all students who obtain a final course mark of 85% or higher.