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Test 4

1	The NAV of a scheme is Rs.11. What is the maximum sale price that the MF can announce?
	Rs.11 Rs.11.55 Rs.11.77 None of the above
2.	Which of the following is true?
	A load fund is better than a no load fund
	With load funds, the NAV increases faster than no load funds
	No load funds gurantee higher returns than load funds
	None of the above
3.	Non traded securities are to be excluded while calculating the NAV. True or False?
	True False
4.	While comparing Mutual funds with other options, which of the following should not be taken into considerations?
	Transaction costs Cumulative aggregate returns Compounded anual return Liquidity
5.	Contingent deffered sales charge is:
	A variable charge to cover the marketing and sales charges A variable charge to make up for the loss of unit value A fixed amount charged every time an investor exists A fixed or variable load depending upon how many years the investor has stayed with the fund
6.	Which of the following factors would prompt an investor to prefer a bank deposit over a debt mutual fund scheme?
	Bank deposits always offer higher yields They are guranteed by bankers for capital protection Credit rating is higher They are more liquid than mutual funds
7.	As per SEBI guidelines, which of the following activities is an AMC allowed to undertake?
	To be a trustee of some other mutual fund TO provide advisory functions to pension and provident funds To look after the schemes of other mutual funds
8.	Which of the following is untrue of systematic investment plan?
	It allows investor to invest a fixed amount on a monthly basis It allows investor to change the amount It inclucates a discipline of regular investment in the investor It faciliates rupee cost averaging
9.	Offer document as per trust deed is issued by :
	AMC Sponsors AMC in the name of the trustees k Trustees
10.	In case of assured schemes, which information is not required to be given in offer document
	Means of meeting the gurantee All past assured return schemes with details of the shortfalls Comparison with other funds/MF Disclosure about the investment objective
11.	Which of the following funds would not be very volatile?
	A fund with investments across only two sectors A fund with investments in high quality assets A fund with investments in a handful of stocks A small cap fund
12.	Bank sponsored MF are regulated by
	RBI SEBI RBI &SEBI None
13.	Which of the following was true about US 64?
	Sales and repurchase done at NAV based prices It's a closed end scheme-hence no redemption offered by UTI Units under US 64 are not tradable Sales and repurchase are done at rates decided by UTI from timr to time
14.	Which of the following is true about switching from a MMMF to an equity fund?
	It is not allowed It takes too long to execute One should remain invested in one fund always It is a means to deal with the stock market swings
15.	A debenture with a face value of Rs.1000 and a 2 year term to maturity has yields to maturity(YTM) of 10%. The coupon rate is 12% per annum, payable half-annualy. What is its price?
	Rs.1000.00 Rs.995.35 Rs.990.10 Rs.1049.84
16	The maximum limit of inter-scheme investments by a fund is
	5% of the NAV of the NAV of the transferring scheme 15% of the NAV of the receiving scheme 5%of the NAV of all schemes of the fund 15% of the NAV of all schemes of the fund
17	Which of the following is true about investments made under section 54 ea of the income tax act:
	The investment cannot be withdrawn for 5 years The investment cannot be withdrawn for 4 years The investment cannot be pledged The investment can be transferred
18.	Which of the following is an FII not all0owed?
	Investing directly in a mutual fund Opening a non-resident(external)account Open a non-resident(rupee)account Can invest through a broker
19.	The performance of which of the follwoing is not comparable?
	Two debt funds Two diversified equity funds A liquid fund and a MMMF An IT fund and a diversified equity fund
20.	A scheme has realised gains of Rs.5 crore, unrealised losses of RS.1 crore, unrealised gains of Rs.2 crore and excess of income over experience of Rs.3crore. Whatwould be the distributable surplus?
	Rs 5crore Rs 7crore Rs 9crore Rs 10crore
21.	A bridged offer document distributed with application is called
	Prospectus Key information memorandum Statement in lieu of prospectus Scheme features document
22.	The difference between repurchase and sale price of the unit should not exceed
	7% 5% 6% 2%
23.	Intial issue expenses in respect of any scheme shall not exceed
	5% 4% 6% 2%
24	For valuing equity holdings in a scheme, quotes from the following exchange should be taken:
	NSE BSE Regional stock exchange Principal Stock Exchange
25.	What is the rate of tax on large term capital gains in case of MF units?
	20% after indexation 10% without indexation Either a or b Higher of a or b
26	In the offer document of a scheme the name of which official in the AMC is mandatory required to be given
	Investor relations officer Operations head Name of the dealer Fund manager
27.	The following characteristics is not present in an open end fund
	Facility to buy or sell back units to the fund A fixed unit corpus for the life of the scheme Regular declarations of NAV Regular disclosure of portfolio
28.	The following is not a characteristics of a closed end fund
	It has fixed corpus It has a fixed duration It declares NAV & Portfolio regularly It units can be purchased or resold on any working day
29.	A fund charges 2 %entry load. An investor holds 1000 units. The investor wants to redeem today and the NAV is RS.20. What amount will he/she get?
	1000 980.3 980 1020.40
30.	A fund charges 1.5% exit load. An investor holds 1000 units. The investor wants to redeem today and the NAV is RS.20
	20000 20300 17000 19700
31.	Money market funds would not invest in
	Treasury bills Cert. of deposit Commercial papers Long term corporate debt
32.	Which of the following statement is false
	Gilt funds have the least credit risk among various types of funds Gilt funds NAv will not fluctuate irrespective of interest rate movements Gilt funds would not face the rsk of default unless the government defaults on its payments Gilt funds are ideal for investors who look for highest safety of principal amount
33.	Arrange the fund types starting from lowest risk to highest risk: Sector funds, Balanced funds, Diversity equity funds, Money market funds
	MBDS MDBS DBSM DMBS
34.	Index funds aim to
	Beat all market indices Track specified index subject to a small tracking error Beat a specific market index Invest in researched stock to beat popular indices
35.	The following is not of the board of trustees of a mutual fund
	Ensure that investors interests are safeguarded The management of the fund is in accordance with SEBI regulations Ensure the AMC has proper systems, procedures and key personnel in place Raise the maximum possible amount of assets in each scheme floated by the fund
36.	The following is not a duty of the board of trustees of a mutualfund
	Enter into IMA with AMC in accordance with SEBI regulations Guarantee returns on the investors money Furnish a report to SEBI on the funds activities on half yearly basis Ensure due diligence on part of the AMC for empanelment f brkers
37.	What percentage of unit holders f the scheme present at a meeting called for the purpose can terminate the appoinment of an AMC
	51% 100% 75% None of the above
38.	Which organisation should an investor approach in case of grievance against a mutual fund
	Consumer protection court Company law board AMFI SEBI
39.	The first time investor would be advised to refer to
	Detailed offer do-cument The key information memorandum SEBI regulations None of these
40.	Which of the following is not true of the offer document
	Investor does not get information for evaluating the proposed schemes performances Investor gets useful information for evaluating the performance of the AMC's past schemes Investor does not get any information on service he can except from the fund Investor will be able to assess the risks of the scheme based on the offer dcument
41.	Which of the folowing statement is not true
	As per SEBI regulations, all intial issue expense incl.Brokerage are limited to 6% of resources raised Open-end funds are authorised to charge the investors entry & exit loads to cover fund distribution expenses There is a cap on the total expenses chargable to a scheme each year Excess expenses over prescribed cap and can be carried forward and charged next year
42.	The following is not desirable from an agent selling mutual funds
	He should be fully aware of the important characterstics of the scheme he sells He should know the clients need and hep choose the right investment He should pass the highest possible incentive to the client He must encourage regular investment & gve personalised after sales service
43.	An open-end fund with 10,000 units outstanding has the following items on its balance sheet. Investments at market value Rs. 100,000, other assets Rs. 20,000, current liabilites Rs.25,000. Calculate the funds NAV per unit
	Rs. 9.5 Rs.12 Rs.10 Rs.14.5
44.	The expenses charged to a fund on recuring basis are calculated on
	Ave. Weeklly net assets Ave. Quarterly net assets Ave. Monthly net assets Year end net assets
45	Dividend received by the fund on a share is to be recognised on
	Dividend declaration date Dividend receipt rate Last date of the quarter end after dividend declaration Date on which the share is quoted ex-dividend
46.	A fund acquires 100 shares in a company for Rs.5000, it buys another 150 shares in the same company for Rs.7000. Later it sells 50 shares for Rs.3500. What is the gain/loss on the sale?
	Rs.1100 RS.1000 Rs.1167 RS.1500
47.	An investment shall be regarded as non-performing, if it has provided no returns through dividend/interest for more than
	6 months 12 months 24 months 3 months
48.	At what rate does a mutual fund have to pay tax
	38.5% 22% 22%on Debt funds, nil on Equity Funds A mutual fund does not have to pay tax
49.	The following funds are exempt from dividend distribution tax
	All-open end funds Open-end debt schemes All open and close-ended equity schemes Open-end funds with over 51% investment in equities*now 65%
50.	Mutual fund units become long term capital assets it held for
	12 months over 12 months 36 months over 36 months

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