Canadian Securities Course (CSC) Practice Exam

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Study for the Canadian Securities Course Exam with our comprehensive practice test. Explore flashcards and multiple-choice questions, each with detailed hints and explanations. Prepare for your CSC exam with confidence!

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What is the main responsibility of the CDIC in Canada?

Regulate securities trading
Ensure the financial solvency of insurance firms
Provide deposit insurance coverage
Enforce investor protection laws

The correct answer is: Provide deposit insurance coverage

The CDIC, or Canada Deposit Insurance Corporation, is responsible for protecting the deposits of Canadian citizens. Specifically, they provide deposit insurance coverage, which means that if a bank or financial institution fails, they guarantee to cover eligible deposits up to a certain amount. This ensures that Canadians' savings are protected and gives them peace of mind. Option A, regulating securities trading, is the responsibility of the Canadian Securities Administrators. Option B, ensuring the financial solvency of insurance firms, falls under the jurisdiction of the Office of the Superintendent of Financial Institutions. Option D, enforcing investor protection laws, is the responsibility of the Investment Industry Regulatory Organization of Canada. These are important roles, but they are not the main responsibility of the CDIC.