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Posted Date: 17 Jan 2009 Posted By: Nilesh Panchal Member Level: Platinum
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2008 Association of Mutual Funds in India (AMFI) AMFI Advisor Module AMFI AMFI Model Mock Sample Test T University Question paper
1. Abridged offer document distributed with application is called
a prospectus
b. statement in lieu of prospectus
c. key information memorandum
d. scheme features document
2. The duration of a bond is 4 years. If the annual yield changes from .4% to .8% without any change in the benchmark yield the impact on bond will be
a. -1.60%
b. 1.60%
c. No impact
3. A person who is 55 years and about to retire in 3 years is in
a. Growth phase
b. Income phase
c. Accumulation phase
d. Distribution phase
4. The following characteristic is not present in an open end fund
a. facility to buy or sell back units to the fund
b. a fixed unit corpus for the life of the scheme
c. regular declaration of NAV
d. regular disclosure of portfolio
5. A unitholder
a. assigns the management of funds to the fund manager
b. manages the fund by himself
c. can insist for a tailor made portfolio
6. Which of the following can an existing mf investor sue?
a. The AMC
b. Directors of the AMC
c. The mutual fund/ trust
d. The trustees
7. Arrange the fund types starting from lowest risk to highest risk sector funds balanced fund diversified equity fund
a. M B D S
b. M D B S
c. D B S M
d. D M B S
8. The following is not a duty of the board of trustees of a mutual fund
a. enter into IMA with AMC in accordance with SEBI regulations.
b. guarantee returns on the investors money
c. furnish a report to SEBI on the funds activities on half yearly basis
d. ensure due diligence on part of the AMC for empanelment of brokers
9. In case of corporate deposits the most important thing an investor must look for is :
a. Yield
b. Rate of return
c. Credit rating of the company and deposit
d. Profitability of the company
10. Which of the following is true?
a. A load fund is better than a no load fund
b. With load funds- the NAV increases faster than no load funds
c. No load funds guarantee higher return than load funds
d. None of the above
11. An analysis of operations and financials of the company is called
a. Technical analysis
b. Fundamental analysis
c. Chartist approach
12. SIP is not
a. Rupee cost averaging
b. Systematic investment at regular intervals
c. Transfer of units
13. Value of stocks refers to
a. Shares of companies whose earnings are correlated with the state of the economy
b. Shares of companies whose earnings are expected to increase at normal levels
c. Shares of companies trading in precious commodities
d. Shares of companies in nature industries expected to yield low growth earnings
14. A mutual fund is not
a. A portfolio of stocks- bonds- and securities
b. A pool of funds used to purchase securities on behalf of investors
c. A collective investment vehicle
d. A company that manages an investment portfolio
15. A prospective investor to seek legal recourse can sue
a. AMC
b. Sponsors
c. Trustees
d. None of the above
16. The maximum limit of inter-scheme investments by a fund is:
a. 5% of the NAV of the transferring scheme
b. 15% of the NAV of the receiving scheme
c. 5% of the NAV of all schemes of the fund
d. 15% of the NAV of all schemes of the fund
17. The following is not a duty of the board of trustees of a mutual fund
a. raise the maximum possible amount of assets in each scheme floated by the fund
b. ensure that investors interests are safeguarded
c. the management of the fund is in accordance with SEBI regulations
d. ensure the AMC has proper systems- procedures and key personnel in place
18. For a merger of two AMCs to go through which of the following is not required?
a. Approval by SEBI
b. Approval by trustees
c. Approval by company law board
19. Mutual Funds in India started with the launch of schemes by
a. RBI
b. UTI
c. CANBANK
d. SBI
20. A bond having coupon rate 9 % , when current coupons for bonds of similar maturities are 11% will sell
a. At a price which is not related to interest rates for similar maturities
b. Above face value
c. At face value
d. Below face value
21. Private sector funds were granted permission to enter the mutual fund industry
a. 1992
b. 1993
c. 1988
d. 1995
22. An investor invests Rs 300 today. After 7 yrs the value becomes Rs. 600. What is his annualized compounded rate of return
a. 9
b. 11
c. 10.41
23. Which of the following is not a criteria for a sponsor :
a. Networth to be more than capital investment
b. Sponsor should contribute 40% of net assets
c. Sponsor should ensure that 20% of funds assets to be invested in sponsors company
24. The dividend yield of a company growing faster than the market usually will be:
a. Higher than the market average
b. Lower than the market average
c. Same as the market average
25. While comparing mutual funds with other options which of the following should not be taken into consideration?
a. Compounded annual return
b. Transaction costs
c. Cumulative aggregate returns
d. Liquidity
26. Which of the following funds would not be very volatile?
a. A fund with investments across only two sectors
b. A fund with investments in high quality assets
c. A fund with investments in a handful of stocks
d. A small cap fund
27. Which of the following statements is not true
a. excess expenses over prescribed cap can be carried forward and charged next year
b. there is a cap on the total expenses chargeable to a scheme each year
c. as per SEBI regulations- all initial issue expenses incl. Brokerage are limited to 6% of resources raised
d. open-end funds are authorised to charge the investors entry and exit loads to cover fund distribution expenses
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