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Mock Tests for Mutual Fund Distributors
Certification Examination As on 28 - February - 2021
Companies with strong earnings but limited growth opportunities
A.  Do not pay any dividends
B.  Are called blue chip stocks
C.  Generally pay high dividend
D.  Are speculative stocks
Units from open ended mutual funds are bought / sold from
A.  Stock Exchange
B.  Distributors marketing Mutual Funds
C.  AMFI
D.  Fund house
Valuation norms for non traded securities should be disclosed
A.  At the end of every financial year
B.  Every quarter
C.  In SID / SAI at the time of launch of the scheme
D.  It is for internal mechanism and no need to disclose
The choice of an appropriate benchmark for evaluating fund performance depends on
A.  Investment objective of the fund
B.  Fund Manager as he ensures performance of the scheme
C.  Head of Sales & CIO as they are the creator of the scheme
D.  Trustees as they approve the scheme
AMC should confirm that due diligence certificate is signed by
A.   Chief executive officer
B.  Chief financial officer
C.  Compliance officer
D.  Any of the above
When comparing fund's performance with that of its peer group, following cannot be compared
A.  Two debt funds with 5 year maturities
B.  Broad based equity fund with an IT sector fund
C.  Bond fund with a bond
D.  Gilt fund with a Govt. Security
Which of the following is untrue with regards to Top down approach
A.  This strategy involves great deal of research to be successful
B.  Fund tends to invest in top companies of identified sector
C.  Helps you concentrate your investment in the best sector and best country for optimum gains
D.  Fund manager may not invest much if research tells that downturn is round the corner
Most investor service centre are offices of
A.   Trustees
B.  Registrars
C.  Custodian
D.  Fund Accountant
If an investor wishes to change the distributor
A.  Investor need to get NOC from previous distributor
B.  Investor need to give written request to the fund house
C.  Investor need to give written request to the fund house & NOC from previous distributor
D.  Trustees can allow
Which of the following measures are not taken by SEBI for protecting Mutual Fund investors
A.  Mandating minimum level of diversification
B.  Ensuring that funds are invested only in securities approved by SEBI
C.  Ensuring that funds are not used to favor some companies / groups
D.  Tracking securities of each schemes of Mutual Fund
Minimum net-worth requirement for AMC is
A.  Rs. 50 crs
B.  Rs. 5 crs
C.  Rs. 10 crs
D.  Rs. 20 crs
Portfolio turnover ratio is applicable in analyzing performance of which of the following funds
A.  Equity Funds
B.  Index Funds
C.  International Funds
D.  Debt Funds
Fund of Fund invests in
A.  Growth stocks
B.  Mutual funds other than same fund house
C.  Mutual funds of the same fund house
D.  Another Mutual funds
ARN refers to
A.  Agent Registration Number
B.  AMFI Registration Number
C.  Application Registration Number
D.  Account Registration Number
A close ended fund has fixed
A.  Net Asset Value
B.  Period
C.  Return
D.  Fund Manager
Arbitrage funds are classified as
A.  Debt Funds
B.  Equity Funds
C.  Hybrid Funds
D.  Thematic Funds
Which of the following is not an SRO
A.  AMFI
B.  Mumbai Stock Exchange
C.  FPSB India
D.  IRDA
Which of the following form part of fundamental attribute of the scheme
A.  Fund manager
B.  Investment objective
C.  Fund performance of last 3 years
D.  All of the alternatives
Which of the following are short term Govt. securities
A.  Commercial Papers
B.  Treasury Bills
C.  Certificate of Deposit
D.  Pass Through Certificates
A fund manager who believes in growth philosophy looks for companies with
A.  Above average earnings growth
B.  Large reputed companies
C.  Companies which are likely to declare bonus / stock split / Follow-on public issue
D.  All of the above
Real Estate Mutual Funds are
A.  Open ended funds
B.  Close ended funds
C.  Interval funds
D.  Exchange Traded Funds
Assuming everything is constant, if a corporate begins to suffer huge losses, then the default risk on its bond will ----- and the expected return on the bond will
A.  Increase, increase
B.  Increase, Decrease
C.  Decrease, Decrease
D.  Decrease, Increase
When comparing fund performance with peer group funds
A.  Age of the fund should be same
B.  AMC should have same net-worth
C.  Size and composition of the portfolio should be comparable
D.  All of the alternatives
Which of the following is a physical asset
A.  Securitized debt
B.  Real Estate
C.  RITES
D.  Gold futures
Which of the following is not a function of Registrar & Transfer agents
A.  Processing dividends & redemption requests
B.  Maintaining record of units holders
C.  Settling investors transaction of the fund
D.  Calculating Net Asset Value
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