Canadian Securities Course (CSC) Level 1 Practice Exam

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What is the MFDA?

It is a government agency regulating telecommunication
It is the SRO for regulating the distribution and sales of real estate in Canada
It is a regulatory body for mutual funds in Canada
It is a social services organization

The correct answer is: It is a regulatory body for mutual funds in Canada

The correct answer is C. The MFDA stands for the Mutual Fund Dealers Association. It is a regulatory body in Canada that oversees the distribution and sales practices of mutual funds. Option A is incorrect as the MFDA does not regulate telecommunication but rather focuses on the financial industry. Option B is also incorrect as the MFDA does not regulate real estate, and Option D is incorrect as it is not a social services organization but a regulatory body for mutual funds.