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Mock Tests for Mutual Fund Distributors
Certification Examination As on 29 - January - 2022
Which of the following with regard to Fixed Maturity Plan is true
A.  It is an Open Ended Fund
B.  It is an Interval Fund
C.  It is a Close Ended Fund
D.  It is a fixed maturity deposit of a Commercial Bank
NAV of a Mutual Fund
A.  Is always constant
B.  Keeps going up at a steady rate
C.  Fluctuates with market movement
D.  Debt fund's NAV cannot go down at all
An open ended fund can change its fundamental attributes by
A.  Allowing unit holders to exit after 6 months
B.  Allowing unit holders to exit without load
C.  With the consent of 75% of the unit holders
D.  Allowing unit holders to exit with applicable load
SID compulsorily lists investment policy keeping in mind investment objectives of the fund
A.  True
B.  False
C.  
D.  
The tax on the amount received on monthly income plan of a debt Mutual Fund is
A.  Zero
B.  10% plus applicable education cess
C.  20% plus applicable education cess
D.  30% plus surcharge plus education cess
Financial Planner & their clients should focus on
A.  Allocating funds to various asset classes based on their objectives
B.  Allocating funds to individual securities
C.  Tracking shares that have upside potential
D.  Minimize losses
Arbitrage funds are classified as
A.  Debt Funds
B.  Equity Funds
C.  Hybrid Funds
D.  Thematic Funds
Security Dealer of a Mutual Fund
A.  Ensures that proper processes are followed by the fund managers
B.  Executes buy / sell orders for the fund
C.  Decides buying / selling of securities based on technical analysis
D.  Does a fundamental analysis of the company that is to be bought / sold
What is untrue of new scheme launched by Mutual Fund
A.  New scheme launched is often accompanied by aggressive marketing campaigns
B.  Investors have a change to invest at unit price of Rs. 10/-
C.  New fund offer could be open ended fund / close ended fund / interval fund
D.  Expenses incurred for launching the scheme are recovered from the investor through CDSC
Senior citizens savings scheme is governed by which act?
A.  Banking Regulation Act 1949
B.  Govt. Savings Bank Act 1873
C.  Small Savings & Misc. Savings Act 1902
D.  Companies Act 1956
If an NAV of a scheme grows from Rs. 10/- to Rs. 40/- in 3 years, what could be the CAGR
A.  10%
B.  100%
C.  58.74%
D.  48.74%
An open ended mutual fund is one
A.  That invest in Stock Exchanges
B.  That invest in Financial Assets
C.  Where investor can purchase / sell at all times
D.  Units can be purchased only through brokers of Stock Exchanges
An investor in the close ended fund cannot do the following
A.  For emergency requirement, sell through the Fund House
B.  Sell the fund any time through the stock exchange
C.  Buy the fund during the Initial Period of offer
D.  Monitor the performance of the scheme
Standard risk factors are the one
A.  That are uniformly applicable for any Mutual Fund scheme
B.  Different for different schemes
C.  Which are made by standard committee
D.  Which are standard set by SEBI for all Mutual Funds
In a Mutual Fund, over all decision of allocating money to a particular industry / sector is taken by
A.  Equity Analyst
B.  Fund Manager
C.  Security Dealer
D.  Research Dept
If gold price appreciates, investor would benefit from investing in
A.  Gold sector fund
B.  Gold ETF
C.  Index Funds
D.  Gilt Edge security
What is the most reliable source of information for an investor in Mutual Fund scheme
A.  Advice from Distributor
B.  AMFI website
C.  Financial newspaper
D.  Offer Document
STT charges are applicable to
A.  Equity funds
B.  Equity derivatives
C.  Arbitrage funds
D.  All of the alternatives
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
Investing in Gold ETF helps
A.  Guarantee high return
B.  Not permitted in India
C.  Reduce storage cost & impurity
D.  Provide risk cover from burglary, fire, theft etc.
Which of the following is considered as growth asset
A.  Savings account
B.  Current account
C.  Real Estate
D.  Gilt security
Which of the following is untrue of Financial goals
A.  Buying a home
B.  Winning a lottery
C.  Planning for early retirement
D.  Planning for child education
NAV of income fund is to be calculated up to ---- decimals
A.  True
B.  False
C.  
D.  
KIM is to be updated
A.  Once in a quarter
B.  Once in a month
C.  Once in a year
D.  Once in 6 months
Code of ethics for employees of AMC is prescribed by
A.  SEBI
B.  AMFI
C.  Internal Audit team
D.  Trustees
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