Abu Sells Mutual Funds for CIBC

question 134

Multiple Choice

Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross commission rate of 5%. Abu is paid on a graduated commission structure. He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month, 40% commission for the next $50 000 worth of mutual funds, and 75% commission on all additional sales in the same month. What is Abu's commission for a month in which he sells $150 000 worth of mutual funds?

• A) $3625
• B) $2250
• C) $2700
• D) $4500
• E) $5625

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Definitions:

Osteosarcoma

A type of cancer that originates in the cells that form bones, most commonly occurring in children and young adults.

Fibrosarcoma

A malignant tumor derived from fibrous connective tissue, often affecting the legs, arms, or jaw.

Trismus

A medical condition characterized by a reduced opening of the jaws caused by spasm of the muscles of mastication, often associated with infection or trauma.

Stomatitis

Inflammation of the mouth and lips, which can cause soreness and may include conditions like cold sores.