Upload
tilakkumardhar
View
229
Download
1
Embed Size (px)
Citation preview
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 1/39
1.The NAV of a fund has increased from Rs.24 to 26 in 16 months. What is theannualized return
Marks : 1
10%
Insufficient information
8.33%
6.25%
2.
An investment has doubled in 6 years The annualized compounded return is Marks : 1
16.67%
12.25%
100%
Insufficient information
3.A moderate risk investor who has been advised 35% equity allocation would be bestadvised to invest in Marks : 1
Value fund
Diversified equity fund
Sector fund
Aggressive growth fund
4.
Rajesh is a 25 yr old person who is unmarried and working in a Software firm andwants to invest. What allocation would you recommend to him
Marks : 1
50% in equities and balance in debt/money market
80% in debt and 20% in money market
90% in money market and 10% in equity
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 2/39
100% in equities
5.A stock with a high PE is likely to be a part of Marks : 1
Growth stocks portfolio
Value portfolio
Sectoral fund portfolio
Small cap portfolio
6.
Which of these cannot be prevented by unitholders even if 75% of unitholders arebehind it
Marks : 1
Change the AMC
Prevent the takeover of the funds AMC by another sponsor
Prevent the merger of two schemes
Selling off a scheme of one fund to another fund
7.
Which of the following is correct about disclosure of illiquid securities Marks : 1
If the fund proposes to invest more than 25% of net assets in associate companies- itshould disclose in offer document
If the fund proposes to invest more than 10% of net assets in illiquid securities- itshould disclose the impact on redemption / liquidity in offer document
If the fund proposes to invest in illiquid securities it should disclose in the offer document
If the fund proposes to invest more than 20% of net assets in illiquid securities- itshould disclose the possible impact on NAV in offer document
8.
The duration of a bond is 4 years. If the annual yield changes from .4% to .8% withoutany change in the benchmark yield the impact on bond will be Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 3/39
-1.60%
1.60%
No impact
9.
The brokerage paid to investors is Marks : 1
Regulated by SEBI
Decided by AMFI
Decided by individual AMCs
10.
Which of the following is correct about appointing agents Marks : 1
They have to be graduates
They have to cleared by SEBI
They have to be AMFI certified
Their appointment is in line with individual AMCs policies [Caution: both c and d couldbe correct]
11.
A stock exchange is involved in the supervision of Marks : 1
All mutual fund schemes
Only open end schemes
Only closed end schemes
Only the closed end scheme which are listed in the particular stock exchange
12.Investors can demand a minimum assured returns Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 4/39
If other schemes of the same fund are doing very well
If other schemes of other funds are doing very well
If there was an assurance on the returns in the offer document
If the scheme has delivered very high returns in the past
13.
Which of the following is true as per SEBI rules? Marks : 1
One fund manager can manage only one fund
One fund manager cannot run both equity and debt fund
The name of the fund manager of each scheme has to be given in the offer documentof the scheme
Each fund has to be run by a team of fund managers
14.
An analysis of operations and financials of the company is called Marks : 1
Technical analysis
Fundamental analysis
Chartist approach
15. Which is the best among the following Marks : 1
Returns 10% Rating BB Load ..05%
Returns 9% Rating A Load .04%
Returns 8% Rating AA Load ..04%
Returns 10% Rating AAA Load ..05%
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 5/39
16.
Which of the following does not form part of a direct marketing strategy? Marks : 1
Newspaper advertisements
Distribution of pamphlets
Using distribution company of sponsors
17.
In the event that an assured return fund does not meet its obligation a unitholder cansue
Marks : 1
The AMC
The sponsors
The person named as guarantor in the offer document
The trustees
18.
Which of the following is not the object of AMFI? Marks : 1
To promote interest of mutual funds
To create ethical practices amongst mutual funds
To regulate norms governing mutual funds
To increase awareness of mutual fund
19.
Which of the following is not a criteria for a sponsor : Marks : 1
Networth to be more than capital investment
Sponsor should contribute 40% of net assets
Sponsor should ensure that 20% of funds assets to be invested in sponsors company
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 6/39
20.
In case of corporate deposits the most important thing an investor must look for is : Marks : 1
Yield
Rate of return
Credit rating of the company and deposit
Profitability of the company
21. Which of the following can an existing mf investor sue? Marks : 1
The AMC
Directors of the AMC
The mutual fund/ trust
The trustees
22.
Which of the following is not a specialty fund? Marks : 1
Test fund
Balanced fund
Pharma fund
23.
In India a mutual fund is constituted as Marks : 1
Trust
Investment company
Company
None of the above
24.
An investment shall be regarded as non-performing if it has provided no returnsthrough dividend/interest for more than
Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 7/39
3 months
6 months
12 months
36 months
25.
If a security is thinly traded it implies that the security has not traded on any stockexchange for the last __ days
Marks : 1
40
15
30
60
26.
Diversified debt funds are most affected by Marks : 1
Reinvestment risk
Liquidity risk
Interest rate risk
Default risk
27.
For a merger of two AMCs to go through which of the following is not required? Marks : 1
Approval by SEBI
Approval by trustees
Approval by company law board
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 8/39
28.
What is the maximum initial issue expenses that can be charged by the AMC? Marks : 1
7%
6%
5%
8%
29.
Safekeeping of physical securities is the role of Marks : 1
The custodian
The transfer agent
Trustee
Sponsor
30.
Which of the following is untrue of the automatic reinvestment plan? Marks : 1
The plan allows for automatic reinvestment of all income and capital gains
Automatic reinvestment allows for the accumulation of additional units of the fund
The benefit of automatic reinvestment is often lost- if reinvestment is subject to heavyload
The major benefit of automatic reinvestment is the compounding of returns
31.
SEBI regulations for mutual funds came into force in Marks : 1
1993
1987
1996
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 9/39
1998
32.Which class of investors is not allowed to invest in Indian mutual funds? Marks : 1
FII
NRI
Indian resident
Foreign national
33.
Value of stocks refers to Marks : 1
Shares of companies whose earnings are correlated with the state of the economy
Shares of companies whose earnings are expected to increase at normal levels
Shares of companies trading in precious commodities
Shares of companies in nature industries expected to yield low growth earnings
34.
Investors can address their complaint to the following except to Marks : 1
Consumer court
SEBI
AMFI
Sponsor
35.
Commissions payable by a fund to its agents depends Marks : 1
Regulated by SEBI
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 10/39
Regulated by AMFI
Regulated by AMC
upon the funds discretion
36.
Which of the following statements is false: Marks : 1
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 risk of default unless the government defaults on itspayments
Gilt funds are ideal for investors who look for highest safety of principal amount
37.
Value investment means Marks : 1
Investing based on attractiveness of sector
Investing based on p/e of company as compared to an industry
Investing with the intention of unlocking an intrinsic value
Investing in companies that have good dividend yield
38.
An investor purchased an open-end fund when its NAV was Rs.20. 16 months later
its NAV stood at Rs.22. What was the annualized returns?{Formula for percentageNAV change: [{{absolute change in NAV/NAV at the beginning}/monthscovered}*12}]*100
Marks : 1
8%
7%
7.50%
8.50%
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 11/39
39.
A unit of an open-end fund was purchased when its NAV was Rs.25. At year-end itsNAV was Rs.27. In the interim period the fund made a distribution of Rs.5 per unitwhen its NAV was 26. What was the simple total return of the fund?
Marks : 1
27%
28%
27.50%
28.50%
40.
Mutual fund can borrow Marks : 1
In order to meet redemption units/dividends or interest payouts
For a maximum duration of 6 months
Upto a maximum of 20% of the net assets
All of the above
41. A security is considered to be untraded if Marks : 1
It is not traded for 30 days
It is not traded for 60 days
It is not traded for 90 days
It is not traded for 180 days
42.A prospective investor to seek legal recourse can sue Marks : 1
AMC
Sponsors
Trustees
None of the above
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 12/39
43.
An investment of Rs.100 000 on January 1 2006 is redeemed to August 1 or any other tax benefit?
Marks : 1
10000
0
Marginal rate
15000
44.
Which of these securities will you not find in a Liquid Fund Marks : 2
Call money
Certificated of deposits
3 year government securities
Commercial paper
45.
Mutual funds in India started with the launch of schemes by Marks : 3
SBI
UTI
RBI
Canbank
46.
Closed end funds sell at discount to their NAV because Marks : 3
Repurchase price fixed by the fund is lower than the NAV
Investors expect that current NAV cannot be sustained by future potential
Closed end funds have a higher expense ratio
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 13/39
Interest risks of closed end funds
47.Which of the following services is not permitted by mutual funds Marks : 3
Cheque writing
Nomination
Loan against units
Transfer of units
48.
Which of the following is not false of a fund sponsor Marks : 3
He cannot invest in the scheme
He can invest in the scheme
The scheme should invest in the sponsors companies
Custodial and registrar agreement
49.
Which of the following cannot market mutual fund schemes Marks : 2
NBFC
Banks
Distribution companies
Agents
None of the above
50.
Which is not true about an SRO Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 14/39
Works as a decentralizing organization
Reports to an apex regulatory body
Passes its own laws
51.
An investor invests Rs 300 today. After 7 yrs the value becomes Rs. 600. What is hisannualized compounded rate of return
Marks : 1
9
11
10.41
52.
A mutual fund has an NAV of Rs. 12. What is the maximum price of repurchase. Marks : 1
12
11.5
12.84
53.
AMC should have a net worth of not less than Marks : 2
10 crores
10 crores at all times
5 crores at all times
54.
Sale and repurchase of units is the job of the Marks : 2
custodian
registrar and transfer agents
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 15/39
agents
brokers
55.
Which of the following would be termed as direct marketing measures? Marks : 2
selling units through well established distribution channels
selling through agents
sending staff to corporate houses for marketing
none of the above
56.
If an NRI investor wanted the facility of investment with repatriation benefits whatkind of an account would you advise him to open:
Marks : 2
NRO
NRNR
NRE
None of the above
57.
An investor approaches you to build his portfolio. What is the sequence of the stepsthat you'll take?
Marks : 2
selection of sector- selection of fund manager and schemes- classification of assets
selection of fund manager and schemes- selection of sector- classification of assets
classification of assets- selection of sector- selection of fund manager and schemes
selection of sector- classification of assets- selection of fund manager and schemes
58.
Non traded securities are to be excluded while calculating the NAV. True or false? Marks : 3
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 16/39
True
False
59.
Which of the following is untrue of systematic investment plan? Marks : 2
It allows investor to invest a fixed amount on a monthly basis
It allows investor to change the amount
It inculcates a discipline of regular investment in the investor
It facilitates rupee cost averaging
60.
Offer document as per trust deed is issued by: Marks : 2
AMC
Sponsors
AMC in the name of the trustees
Trustees
61. Which of the following funds would not be very volatile? Marks : 1
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
62.
The maximum limit of inter-scheme investments by a fund is: Marks : 1
5% of the NAV of the transferring scheme
15% of the NAV of the receiving scheme
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 17/39
5% of the NAV of all schemes of the fund
15% of the NAV of all schemes of the fund
63.
The performance of which of the following is not comparable? Marks : 1
Two debt funds
Two diversified equity funds
A liquid fund and a MMMF
An it fund and a diversified equity fund
64.
A scheme has realised gains of Rs 5 crore unrealised losses of Rs 1 crore unrealisedgains of Rs 2 crore and excess of income over expenses of Rs 3 crore. What wouldbe the distributable surplus?
Marks : 1
Rs 5 crore
Rs 7 crore
Rs 9 crore
Rs 10 crore
65.
Abridged offer document distributed with application is called Marks : 1
prospectus
statement in lieu of prospectus
key information memorandum
scheme features document
66.
The difference between repurchase and sale price of the unit should not exceed Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 18/39
7%
5%
6%
2%
67.
What is the rate of tax on long term capital gains in case of mf units? Marks : 1
20% after indexation
10% without indexation
either of a or b
higher of a or b
68.
The following characteristic is not present in an open end fund Marks : 1
facility to buy or sell back units to the fund
a fixed unit corpus for the life of the scheme
regular declaration of NAV
regular disclosure of portfolio
69.
The following is not a characteristic of a closed end fund. Marks : 1
it has fixed corpus
it has a fixed duration
it declares NAV and portfolio regularly
its units can be purchased or resold on any working day
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 19/39
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 20/39
payments
gilt funds are ideal for investors who look for highest safety of principal amount
74.
Index Funds aim to Marks : 1
beat all market indices
beat a specific market index
track a specified index subject to a small tracking error
invest in well researched stock to beat popular indices
75.
The following is not a duty of the board of trustees of a mutual fund Marks : 1
raise the maximum possible amount of assets in each scheme floated by the 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
76.
The following is not a duty of the board of trustees of a mutual fund Marks : 1
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 of brokers
77.
What percentage of unit-holders of the scheme present at a meeting called for thepurpose can terminate the appointment of an AMC
Marks : 1
51%
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 21/39
100%
75%
none of the above
78.
Which organisation should an investor approach in case of grievance against amutual fund
Marks : 1
consumer protection court
company law board
AMFI
SEBI
79.
The first time investor would be advised to refer to Marks : 1
detailed offer document
the key information memorandum
SEBI regulations
none of these
80.
An open-end fund with 10000 units outstanding had the following items on itsbalance sheet investments at market value Rs 10000 current liabilities Rs.25000.
Calculate the funds NAV per unit
Marks : 2
Rs. 9.5
Rs. 12
Rs 10
Rs 14.5
1. The following investments are not adversely affected by rising interest rates. Marks : 3
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 22/39
company debentures
institutional bonds
mutual funds
floating rate bonds
2.
Which of the following is not a type of load? Marks : 3
a charge at the time of investors entry into the fund- by deducting a specific amount
from his initial contributions
a charge at the time of investor exit from the scheme by deducting a specified amountfrom redemption proceeds
a charge of investment management fees to the fund every year
a charge of fixed amount if the investor exits before completing a predetermined periodof holding his investment
3.
The board of trustees is expected to protect the interest of Marks : 3
the sponsors
the asset management company
SEBI
the unit holders
4.
In index funds the expenses are low because Marks : 3
the fund manager does not want a large tracking error
the equity research expenses are not incurred
SEBI regulations stipulate lower expenses for index funds
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 23/39
to compete against the actively managed fund
5.An investment has doubled in 6 years The annualized compounded return is Marks : 1
16.67%
12.25%
100%
Insufficient information
6.
A moderate risk investor who has been advised 35% equity allocation would be bestadvised to invest in
Marks : 1
Value fund
Diversified equity fund
Sector fund
Aggressive growth fund
7.
Rajesh is a 25 yr old person who is unmarried and working in a Software firm andwants to invest. What allocation would you recommend to him
Marks : 1
50% in equities and balance in debt/money market
80% in debt and 20% in money market
90% in money market and 10% in equity
100% in equities
8.
Which of these cannot be prevented by unitholders even if 75% of unitholders arebehind it
Marks : 1
Change the AMC
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 24/39
Prevent the takeover of the funds AMC by another sponsor
Prevent the merger of two schemes
Selling off a scheme of one fund to another fund
9.
Which of the following is correct about disclosure of illiquid securities Marks : 1
If the fund proposes to invest more than 25% of net assets in associate companies- itshould disclose in offer document
If the fund proposes to invest more than 10% of net assets in illiquid securities- itshould disclose the impact on redemption / liquidity in offer document
If the fund proposes to invest in illiquid securities it should disclose in the offer document
If the fund proposes to invest more than 20% of net assets in illiquid securities- itshould disclose the possible impact on NAV in offer document
10.
An equity fund has an average weekly net assets of Rs.250 crores throughout theyear; The maximum investment management and advisory fee it can charge is
Marks : 1
Rs.2.50 crores
Rs.5 crores
Rs.2.75 crores
Rs.6.25 crores
11.
The duration of a bond is 4 years. If the annual yield changes from .4% to .8% withoutany change in the benchmark yield the impact on bond will be
Marks : 1
-1.60%
1.60%
No impact
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 25/39
12.
Which of the following are important in fund comparison Marks : 1
Investment objective of the schemes
Size of the scheme
Both of the above
None of the above
13.
Which of the following is correct about appointing agents Marks : 1
They have to be graduates
They have to cleared by SEBI
They have to be AMFI certified
Their appointment is in line with individual AMCs policies [Caution: both c and d couldbe correct]
14.
A stock exchange is involved in the supervision of Marks : 1
All mutual fund schemes
Only open end schemes
Only closed end schemes
Only the closed end scheme which are listed in the particular stock exchange
15.
Investors can demand a minimum assured returns Marks : 1
If other schemes of the same fund are doing very well
If other schemes of other funds are doing very well
If there was an assurance on the returns in the offer document
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 26/39
If the scheme has delivered very high returns in the past
16.Which of the following is not true about trustees? Marks : 1
They can ask for investment portfolio at any time
They have to approve the appointment of brokers/distributors
They have to exercise due diligence in ensuring that the AMC has the proper systemsin place
17.
A person who is 55 years and about to retire in 3 years is in Marks : 1
Growth phase
Income phase
Accumulation phase
Distribution phase
18.
Which is the best among the following Marks : 1
Returns 10% Rating BB Load ..05%
Returns 9% Rating A Load .04%
Returns 8% Rating AA Load ..04%
Returns 10% Rating AAA Load ..05%
19.
Which of the following does not form part of a direct marketing strategy? Marks : 1
Newspaper advertisements
Distribution of pamphlets
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 27/39
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 28/39
Sponsor should ensure that 20% of funds assets to be invested in sponsors company
24.In case of corporate deposits the most important thing an investor must look for is : Marks : 1
Yield
Rate of return
Credit rating of the company and deposit
Profitability of the company
25.
Which of the following can an existing mf investor sue? Marks : 1
The AMC
Directors of the AMC
The mutual fund/ trust
The trustees
26.
The health of a fund can be known from Marks : 1
Offer document
Annual / half-yearly report
NAV
Newspapers
27.
Which of the following is not a specialty fund? Marks : 1
Test fund
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 29/39
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 30/39
Reinvestment risk
Liquidity risk
Interest rate risk
Default risk
32.
What is the maximum initial issue expenses that can be charged by the AMC? Marks : 1
7%
6%
5%
8%
33.
Safekeeping of physical securities is the role of Marks : 1
The custodian
The transfer agent
Trustee
Sponsor
34.
SEBI regulations for mutual funds came into force in Marks : 1
1993
1987
1996
1998
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 31/39
35.
Which class of investors is not allowed to invest in Indian mutual funds? Marks : 1
FII
NRI
Indian resident
Foreign national
36.
Value of stocks refers to Marks : 1
Shares of companies whose earnings are correlated with the state of the economy
Shares of companies whose earnings are expected to increase at normal levels
Shares of companies trading in precious commodities
Shares of companies in nature industries expected to yield low growth earnings
37.
Investors can address their complaint to the following except to Marks : 1
Consumer court
SEBI
AMFI
Sponsor
38.
Commissions payable by a fund to its agents depends Marks : 1
Regulated by SEBI
Regulated by AMFI
Regulated by AMC
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 32/39
upon the funds discretion
39.The dividend yield of a company growing faster than the market usually will be: Marks : 1
Higher than the market average
Lower than the market average
Same as the market average
40.
Value investment means Marks : 1
Investing based on attractiveness of sector
Investing based on p/e of company as compared to an industry
Investing with the intention of unlocking an intrinsic value
Investing in companies that have good dividend yield
41.
An investor purchased an open-end fund when its NAV was Rs.20. 16 months later its NAV stood at Rs.22. What was the annualized returns?{Formula for percentageNAV change: [{{absolute change in NAV/NAV at the beginning}/monthscovered}*12}]*100
Marks : 1
8%
7%
7.50%
8.50%
42.
A unit of an open-end fund was purchased when its NAV was Rs.25. At year-end itsNAV was Rs.27. In the interim period the fund made a distribution of Rs.5 per unitwhen its NAV was 26. What was the simple total return of the fund?
Marks : 1
27%
28%
27.50%
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 33/39
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 34/39
Balanced fund
Sector fund
Small cap fund
47.
When is the offer document of an open-end scheme updated Marks : 3
Once a year
Once in 6 months
Once every 3 months
When a material change occurs
48.
Which of the following statements are correct: Marks : 1
MFs are allowed to borrow as per SEBI regulations
MFs are allowed to borrow to meet temporary liquidity requirements
In case of borrowing by mf- the duration should be more than six months
In case of borrowing by mf- the mf shall not borrow more than 20% of the net assetvalue of the scheme
All of the above
Only 1-2 and 4 are correct
49.
A mutual fund is not Marks : 1
A portfolio of stocks- bonds- and securities
A pool of funds used to purchase securities on behalf of investors
A collective investment vehicle
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 35/39
A company that manages an investment portfolio
50.
An investor invests Rs 300 today. After 7 yrs the value becomes Rs. 600. What is hisannualized compounded rate of return Marks : 1
9
11
10.41
51.
Money market funds invest in Marks : 1
Company fixed deposits
Government securities with less than 1 yr maturity
52.
A NRI holds units in mutual fund. What should he do with his holding if he takes upforeign citizenship
Marks : 1
He redeems
He continues
He transfers the units to his mother- who resides in India
None of the above
53.
The strategy advisable for an investor to maximize investment return in the long run Marks : 2
Buy and hold on to investment for a long time
Liquidate poorly performing investment from time to time
Liquidate good performing investments
Switch from poor performers to good performers
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 36/39
54.
Sale and repurchase of units is the job of the Marks : 2
custodian
registrar and transfer agents
agents
brokers
55.
What is the maximum limit for investing in unlisted securities for an open endscheme (as % of net assets)
Marks : 2
10%
5%
15%
none of the above
56.
The 1999 union budget helped the mutual fund industry by Marks : 2
57.
A load means Marks : 2
58. Which was the first diversified equity fund in India? Marks : 2
59.
The first non-UTI mutual fund was Marks : 2
60.
In case of assured schemes which information is not required to be given in offer document
Marks : 2
61. Which of the following funds would not be very volatile? Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 37/39
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
62.
Which of the following is true about switching from a MMMF to an equity fund? Marks : 1
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
63.
The maximum limit of inter-scheme investments by a fund is: Marks : 1
5% 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
64.
The performance of which of the following is not comparable? Marks : 1
Two debt funds
Two diversified equity funds
A liquid fund and a MMMF
An it fund and a diversified equity fund
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 38/39
65.
Abridged offer document distributed with application is called Marks : 1
66.
Initial issue expenses in respect of any scheme shall not exceed Marks : 1
67.
What is the rate of tax on long term capital gains in case of mf units? Marks : 1
68.
The following is not a characteristic of a closed end fund. Marks : 1
69.
A fund charges 2% entry load its NAV is Rs.15. An investor invests Rs.15 Marks : 1
70.
A fund charges 1.5% exit load. An investor holds 1000 units. The investor wants toredeem today and the NAV is Rs.20. What amount will he/she get ?. How many unitswill he/she get ?
Marks : 1
71.
Money market funds would not invest in Marks : 1
72.
Which of the following statements is false Marks : 1
73.
Arrange the fund types starting from lowest risk to highest risk sector fundsbalanced fund diversified equity fund
Marks : 1
74.
Index Funds aim to Marks : 1
75.
The following is not a duty of the board of trustees of a mutual fund Marks : 1
76.
The following is not a duty of the board of trustees of a mutual fund Marks : 1
8/7/2019 AMFI Test Kotak
http://slidepdf.com/reader/full/amfi-test-kotak 39/39
77.
What percentage of unit-holders of the scheme present at a meeting called for thepurpose can terminate the appointment of an AMC
Marks : 1
78.
Which organisation should an investor approach in case of grievance against amutual fund
Marks : 1
79.
The first time investor would be advised to refer to Marks : 1
80. The expenses charged to a fund are calculated on Marks : 2