Canadian Securities Course (CSC) Practice Exam

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Practice for the Canadian Securities Course (CSC) exam with our quiz. Test your knowledge with multiple-choice questions. Be prepared for the real exam!

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Which organization is responsible for protecting eligible customers in the event of IIROC dealer member insolvency?

MFDA
OSFI
CDIC
CIPF

The correct answer is: CIPF

CIPF, or the Canadian Investor Protection Fund, is an organization set up to protect eligible customers of IIROC dealer members in the event of insolvency. The other options, MFDA, OSFI, and CDIC, are not responsible for protecting eligible customers in this situation. MFDA, the Mutual Fund Dealers Association, is responsible for regulating the Canadian mutual fund industry. OSFI, the Office of the Superintendent of Financial Institutions, is responsible for supervising and regulating banks and insurance companies in Canada. CDIC, the Canada Deposit Insurance Corporation, provides deposit insurance for eligible deposits held at member financial institutions in the event of their insolvency. Therefore, CIPF is the correct answer as it is the only organization designed specifically to protect eligible customers in the given situation.