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Licensing → 90 Day Advisor Training

90-Day CIRO Advisor Training (LCI0L003)


Description
Welcome to your first 90 days with your new CIRO Dealer firm. Get up to speed with industry rules, regulations and best practices while you satisfy your mandatory 90-day training requirement.

This course is designed to be completed over a full 90-day period, with a different topic every week, allowing you to balance the learning with the onboarding experience with your new firm.

Content
  • Introduction to the IIROC 90-Day Training Program
  • Identity crisis, honesty and permissible activities
  • Week 1: Canada's Financial Services Industry
  • What is Investment Capital?
  • Sources and Users of Capital
  • Financial Instruments
  • Debt Instruments
  • Equity Instruments
  • Investment Funds
  • Derivatives
  • Financial Intermediaries
  • Deposit Taking Institutions
  • Non-Deposit Taking Institutions
  • Financial Markets
  • Auction and Dealer Markets
  • Clearing Agencies
  • Financial Regulators
  • Self-Regulatory Organizations (SROs)
  • Provincial Securities Regulators
  • Federal Financial Agencies
  • Complaints and Industry Ombudsmen
  • Deposit Insurance and Investor Protection
  • National Registration Database (NRD)
  • Week 2: Client Communication
  • The Financial Planning Approach
  • 1. Establish the Client-Advisor Relationship
  • 2. Collecting Data and Information
  • Net Worth and Cash Flow Statements
  • 3. Analyze Data and Information
  • Investment Objectives
  • Suitability and Risk Tolerance
  • 4. Recommend Strategies to Meet Client Goals
  • 5. Implement Recommendations
  • 6. Monitoring and Adjusting the Plan
  • The Life-Cycle Hypothesis
  • Life-Cycle Stages
  • Life-Cycle Hypothesis Summary
  • Week 3: Fundamentals of Economics
  • Introduction
  • What is Economics?
  • Micro and Macro Economics
  • Economic Influencers and Marketplaces
  • Supply and Demand
  • Remembering the Supply Demand Curve
  • Gross Domestic Product (GDP)
  • Real and Nominal GDP
  • GDP Growth Drivers
  • Phases of the Business Cycle
  • Economic Indicators
  • Measuring a Recession
  • Key Labour Market Indicators
  • Types of Unemployment
  • The Role of Interest Rates
  • Nominal and Real Interest Rates
  • The Nature of Money and Inflation
  • Consumer Price Index (CPI)
  • Understanding Inflation
  • The Impact of Inflation
  • Understanding Output Gap
  • Demand-pull and Cost-push Inflation
  • Deflation and Disinflation
  • Monetary Policy
  • Fiscal Policy
  • Current and Capital Accounts
  • Week 4: Mutual Fund Fundamentals
  • What are Mutual Funds?
  • Components of a Mutual Fund
  • Mutual Fund Disclosure Documents
  • The Simplified Prospectus
  • Annual Information Form
  • The Fund Facts Document
  • Financial Statements and Management Reports
  • Mutual Fund Categories
  • Money Market Funds
  • Current and Effective Yield of a Money Market Fund
  • Mortgage Funds
  • Fixed Income Funds
  • Preferred Dividend Funds
  • Equity Funds
  • Balanced Funds
  • Target Date Funds
  • Index Funds
  • Mutual Fund Expenses
  • Management Expenses
  • Sales Charges
  • Calculating the Front-End Purchase Price
  • Other Mutual Fund Expenses
  • Mutual Fund Redemption Options
  • Mutual Funds and Taxes
  • Mutual Fund Distributions
  • Adjusted Cost Base (ACB)
  • Selecting a Mutual Fund
  • Comparison Universe and Benchmark Index
  • Performance and Volatility
  • Reward-to-Risk and Sharpe Ratio
  • Additional Considerations for Evaluating Mutual Funds
  • Mutual Fund Resources
  • Week 5: Equity Investments
  • Introduction
  • Understanding Common Shares
  • Common Share Features
  • Understanding Preferred Shares
  • Preferred Share Value Formula
  • Preferred Share Features
  • Underwriting
  • Disclosure Documents
  • Trading Equities
  • Cash and Margin Accounts
  • Long and Short Positions
  • Week 5: Fixed Income Investments
  • Course Introduction
  • Understanding Fixed Income
  • Components of Debt Securities
  • Government Debt
  • Treasury Bills (T-Bills)
  • Canada Savings and Premium Bonds
  • Corporate Bonds
  • Other Bond Features
  • Guaranteed Investment Certificates (GICs)
  • Banker's Acceptance (BA)
  • Commercial Paper
  • Bond Pricing
  • Bond Prices and Interest Rates
  • Bond volatility, Maturity and Coupon Rates
  • Bond Coupon Rate Vs. Bond Yield
  • Yield Curve
  • Current Yield of a Bond
  • Semi-Annual Coupons
  • Yield to Maturity
  • Week 6: Investment Portfolios
  • Investment Portfolios Introduction
  • Understanding Risk
  • Taxes on Returns
  • Inflation and Purchasing Power
  • Approximate Real Rate of Return
  • Rate of Return of a Single Security
  • Annualized and Holding Period Return
  • Arithmetic and Geometric Mean Return
  • Portfolio Rate of Return
  • Variance
  • Standard Deviation
  • Beta
  • Duration
  • Diversifying Risk
  • Correlation
  • Passive and Active Portfolio Management
  • Asset Allocation
  • Fundamental and Technical Analysis
  • Week 7: Financial Statements
  • Financial Statements Introduction
  • Statement of Financial Position
  • Assets
  • Inventory
  • Amortization, Depletion and Depreciation
  • Liabilities
  • Equity
  • Statement of Comprehensive Income
  • Statement of Changes in Equity
  • Statement of Cash Flows
  • The Auditor's Report
  • Cannabis Country Financial Statements
  • Week 8: Financial Ratios
  • Financial Ratios Introduction
  • Accessing Financial Information
  • A First Look at Financial Statements
  • Working Capital (Current Ratio)
  • Quick Ratio
  • Asset Coverage
  • Debt to Equity Ratio
  • Cash Flow to Total Debt
  • Interest Coverage
  • Gross Profit Margin
  • Net Profit Margin
  • Return on Equity (ROE)
  • Inventory Turnover
  • Earnings Per Share (EPS)
  • Price to Earnings (PE)
  • Book Value Per Share
  • Dividend Payout Ratio
  • Dividend Yield
  • Week 9: Financial Planning
  • Financial Planning Introduction
  • Financial Planning
  • Industry Trends
  • Compensation Methods
  • Ethics and Duty of Care
  • The PFP Code of Ethics
  • The CFP Code of Ethics
  • Determining Client Goals
  • Six Considerations for Goal Planning
  • Determining a Client's Risk Profile
  • The Life Cycle Approach
  • Six Stages of Financial Planning
  • Step 1: Establish the Client - Advisor Relationship
  • Step 2: Gather Client Information
  • Step 3: Analyze the Client's Information
  • Step 4: Develop and Present the Plan
  • Step 5: Implement the Plan
  • Step 6: Review and Monitor the Plan
  • Week 10: Anti-Money Laundering
  • AML Introduction
  • What is Money Laundering?
  • Money Laundering Strategies
  • The Impact of Money Laundering
  • Canada's AML Regime
  • Week 11: Privacy Legislation
  • Privacy Legislation Introduction
  • Understanding Personal Information and Privacy Legislation
  • Understanding PIPEDA
  • PIPEDA's 10 Fair Information Principles
  • Express and Implied Consent
  • Exceptions to the Consent Principle
  • Complaints to the OPC
  • Week 11: Sales and Marketing
  • An Introduction to Sales Enablement
  • Building Relationships in Sales
  • Closing the Deal: Negotiation Strategies to Increase Sales
  • Marketing Fundamentals: Your Getting Started Guide
  • Customer and Market Research
  • Week 12: Ethics and Standards of Conduct
  • Ethics and Standards of Conduct Introduction
  • Understanding Ethics
  • Standards of Conduct: Overview
  • Standards of Conduct
  • Standard A
  • Standard B
  • Standard C
  • Standard D
  • Standard E
  • Best Practices
  • Week 13: Client Focused Reforms-Related IIROC Rules
  • Standard of Conduct
  • Know Your Client (KYC)
  • Product due diligence
  • Product due diligence process
  • Know your product (KYP)
  • Relationship Disclosure Information
  • Conflicts of Interest
  • Addressing material conflicts in the best interest of the client
  • Conflict of interest controls
  • Conflicts arising from proprietary products
  • Conflicts arising from third-party compensation
  • Internal compensation and incentive practices
  • Conflicts of interest at the supervisory level
  • Conflicts in fee-based accounts
  • Addressing conflicts between clients
  • Conflicts related to referral arrangements
  • Full control or authority over the financial affairs of a client
  • Individuals who serve on a board of directors
  • Individuals who have outside business activities
  • Registered individual's responsibility to report and address material conflicts
  • Disclosing conflicts of interest
  • Examples of conflicts of interest disclosure
  • Program Addendum
  • Understanding Take-Over and Issuer Bids in Canada
  • Week 14: Congratulations!
  • Day 90!
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: Forever
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