Canadian Securities Course (CSC) Practice Exam

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What is the characteristic of Instalment GICs?

  1. An initial lump sum contribution is made

  2. Interest rates linked to other rates

  3. Guaranteed return of initial investment at expiry

  4. Offer exposure to equity markets

The correct answer is: An initial lump sum contribution is made

The characteristic of Instalment GICs is that an initial lump sum contribution is made, which sets it apart from other options. Option B relates to market-linked GICs, C is true for Term Deposits and D is a feature of Index-linked GICs. Instalment GICs are designed for investors who want to gradually save money while receiving a guaranteed rate of return. They allow for convenient contributions at regular intervals and also provide the security of a guaranteed return of the initial investment at maturity. So, while the other options may also have attractive features, only option A accurately describes the distinguishing characteristic of Instalment GICs.

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