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Canadian Investment Funds Course

The CIFC is unlike any in the industry. The sequence of instruction mirrors the typical process used with clients in the real world. A challenging case study and practice exam enable students to put knowledge into practice. Successfully completing the CIFC Exam meets the proficiency requirement by the provincial securities commissions for mutual fund licensing.

Tools and Pricing


Course Price $385
* Optional Products:
Web Trainer for CIFCTM $40
Printed Textbook $70
SeeWhy Learning Review and Practice $109
Study Guide $70
* Optional products are non-refundable

Click here!
Free Study Guide when you purchase all the above items

IFIC Members

Course Price $285
* Optional Products:
Web Trainer for CIFCTM $40
Printed Textbook $70
SeeWhy Learning Review and Practice $109
Study Guide $70
* Optional products are non-refundable

Click here!Don’t know if your firm is a member of IFIC?

Questions? Contact .

Additional Tools

Participate in six 2-hour modules with a qualified IFSE instructor from the comfort of your own home or office – wherever there’s an internet connection. You will be able to interact with the instructor to get the answers you need to pass the CIFC exam. Make sure you review all the course material before the webinar starts and be prepared to participate!

Webinar session price
(for 6 x 2-hour modules)

Note: registration in the CIFC Course is required for participation.

Click here!Webinar dates and
registration form

Course Information

Delivery Online
Language English
Suggested study time 60 to 90 hours
Enrolment period 1 year
Practice exam Yes, 100 questions

Click here!Have questions?

  • Anyone wishing to become a mutual fund dealing representative, or learn about mutual funds
  • Compliance professionals
  • Branch managers and administrators
  • Partners, directors, and officers
  • Advisors and assistants
  • Operations and back office staff
  • Investment professionals looking to provide advice on mutual funds

Click here!Read case study

Paper-based proctored exam

PEARSON VUE Computer-based test centre proctored exam
PEARSON VUE Computer-based online proctored exam
Time permitted 180 minutes
Question format Multiple choice
Passing grade 60%
Attempts allowed 3

Note: Your first paper-based proctored exam attempt (exceptions may apply) is included in the price of the course enrolment. Additional fees apply for subsequent exam attempts and other exam delivery formats.

Click here! CE Credit Matrix

Unit Weighting
Regulatory environment 4%
Registrant Responsibilities 10%
Suitability 9%
Economic factors and financial markets 6%
Types of investments 11%
Types of mutual funds 11%
Portfolio management 7%
Mutual funds administration 11%
Retirement 9%
Taxation 9%
Making recommendations 13%

Honour Roll

Each year, IFSE recognizes the best performing candidates from the Canadian Investment Funds Course Exam on the IFSE Honour Roll. We credit the hard work and dedication of these high scorers for this remarkable accomplishment. In recognition of their achievement, they are awarded a special certificate and acknowledgement on IFSE’s website. In addition, the top students receives a congratulatory gift from IFSE.

Click here!View winners


How do I register for a paper-based exam?

Check the course webpage to verify whether your exam format is paper-based. For all paper-based exams, you must register at least 10 calendar days prior to (and not including) the available exam date. To register:

  • Login to IFSE.
  • Choose "Exams" from the submenu.
  • Choose "Register for Exam".
  • Choose a Location.
  • Choose an Exam Date.
  • Review the Exam Terms and Conditions completely. To accept the Exam Terms and Conditions, check the box and choose "Register" to proceed to Payment Screen. If you do not want to accept the Exam Terms and Conditions, choose "Back". Your exam registration will be cancelled.
  • Click "Process Payment" (even if the payment is $0) to ensure your exam is booked.
Can I take an IFSE course in a classroom setting?

Yes, many of our partner colleges or universities across Canada offer IFSE’s Canadian Investment Funds Course (CIFC) and the Life License Qualification Program (LLQP). Note that our partners deliver our courses independently of IFSE and administer the programs on their own timeline.

For a list of Academic Partners, click here.

What do I need to bring to the paper-based exam?

You must bring valid, non-expired government-issued photo identification, such as a passport, driver’s license or citizenship card. If you are unable to produce valid photo identification, you will not be allowed to sit your exam. Contact us prior to your exam date if you are unable to supply us with acceptable photo identification.

Bring at least one pencil, an eraser and a calculator to the exam. Supplies will not be provided at the exam centre. The calculator must not have printing capabilities. Cell phones and other electronic devices cannot be used as a calculator. Scrap paper for working out calculations will be provided. Note: Proctors cannot accept payment for outstanding course- or exam-related fees at the exam centre.

How do I register for a course?

Follow these instructions.

  1. Choose the LOGIN/REGISTER box.
  2. For returning students, login using your username and password. Choose “Enrol in a Course” in the menu bar.
    For new students choose "Become a Student" and supply all mandatory information in the following screens.
  3. If you have a contract code and password, enter it where required and click "Yes". If you do not have a contract code, click "No".
  4. Choose the course you want to enrol in. Click “Next”.
  5. If optional products are available for purchase, they will appear for you to choose. Click “Next”.
  6. Complete your profile information as indicated on the screen. Take care in completing your mailing and shipping address to ensure that any materials that you have ordered will be delivered promptly and correctly. Click the "Save" button to proceed to the shopping cart.
  7. Verify your shopping cart information and click on "Process Payment".
  8. Review the Terms and Conditions completely. To accept the Terms and Conditions, check the box and click "Yes". If you do not want to accept the Terms and Conditions, click "No". Your course enrolment will be cancelled.
  9. Provide your credit card information and click on "Pay Now". Please do not touch the screen until your payment has been processed. A copy of the receipt will appear and can be printed for your records. The receipt will also be stored in your student record for future reference.
How do I get my exam results?

Exam results for Computer-based Test Centre Proctored and Computer-based Online Proctored exams are available online within 2 business days following the exam if you have no outstanding fees.

Exam results for Online Unproctored exams are available immediately upon submission.

Exam results for Paper-based Proctored exams are available online within 3 to 5 business days if you have no outstanding fees.

When your grade has been released, you can access your exam results by logging into your IFSE account. Once you have logged in:

  • Choose “My IFSE”
  • Choose “Courses”
  • Choose “Show me my Marks for this Course” (this link only appears when your results are available).
How do I know if my system can login to the live webinar?

IFSE uses Cisco WebEx for our Live Webinars. To test your system in advance, please visit the WebEx site and follow the instructions.

What are printed text materials or textbooks?

Printed text materials or textbooks are hardcopy versions of the online course material. They are optional to purchase and take between five to seven business days to be delivered. They do not include any interactive components (i.e., exercises, quizzes, case study and practice exam) from the online course. Instead, you are instructed to go online to complete those elements. This product is not refundable.

How do I become registered as an exempt market dealing representative?

You must first complete your proficiency requirement by passing the Exempt Market Proficiency Course (EMP) exam. The EMP is an online self-study course with a formal proctored exam. You have one-year from the date of enrolment to successfully pass the exam. When you are ready for your exam, you can register into an available exam session that is convenient for you.

After you successfully pass your exam, you must be sponsored by an exempt market dealer to complete the application process.

What is the Web Trainer for CIFC™?

The Web Trainer for CIFCTM is a series of pre-recorded, online tutorials. An instructor takes you through key concepts from the course to help you prepare for your exam. This is an optional product and is available on your desktop immediately after purchase. This product is not refundable.

What is the SeeWhy Learning Review and Practice?

There are 500+ online Key Concept Flash Cards and Exam Prep Questions with detailed answer keys in this optional product. Flash cards are in a simple question & answer format to help you cover a lot of ground quickly. You will be prepared for exam day with the detailed easy-to-understand explanations in the Exam Prep Questions. Some questions also have trainer audio tips to guide you through complex concepts. After purchase, click on the link to access the SeeWhy tools. This product is not refundable.

What is the study guide?

A study guide is a hardcopy book that complements the online course material. It includes summaries of course information and highlights key points and definitions to aid learning. It also includes exercises. Study guides are optional for purchase and you will receive them within seven business days. This product is not refundable.

What is the CIFC Exam Preparation Live Webinar?

A live webinar is real-time training with an IFSE instructor, delivered online. The CIFC Exam Preparation Live Webinar includes six two-hour modules. You will be able to interact with the instructor to get the answers you need to pass the CIFC exam. Sessions are recorded and archived on your student desktop, enabling you to playback the sessions. This product is not refundable.

Do I receive a transcript or diploma?

You will receive an official grade transcript and diploma upon successful completion of the course. Official grade transcripts may be printed online from your desktop after you login. Diplomas will be delivered by mail. For more information, read the FAQs under After your exam.

Other Relevant Courses

You may be interested in these other IFSE courses.

Life License Qualification Program (LLQP)90 Day Training CourseCanadian Investment Funds Operations Course (CIFOC)Exchange-Traded Funds CourseTax-Efficient InvestingExempt Market Proficiency Course (EMP)Officers’, Partners’, and Directors’ Course (OPD)

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