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Practice Test (Mutual Fund)

Description: AMFI MOCK TEST PAPER TEST PREPARATION AND PRACTICE MATERIAL
Number of Questions: 25
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Tags: AMFI MOCK TEST PAPER Test AMFI MOCK TEST PAPER AMFI MOCK TEST AMFI MOCK PAPER MOCK TEST AMFI EXAM AMFI TEST Equity Market
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AMC has to me its annual statements with

  1. Association of Mutual Funds in India (AMFI)

  2. Registrar of Companies (RoC)

  3. Agents' association

  4. UTI


Correct Option: B

The entity that SEBI does not regulate is

  1. share registrars

  2. mutual funds

  3. stock exchanges

  4. non-banking finance companies


Correct Option: D

The largest corpus of invisible funds in India is with

  1. bank-owned mutual funds

  2. private sector mutual funds

  3. UTI

  4. insurance companies


Correct Option: C

A closed-end scheme is not governed by

  1. exchange rules of the stock exchange where it is listed

  2. listing agreement between the fund and the stock exchange

  3. guidelines issued by the Ministry of Commerce

  4. provisions of the Companies Act, 1956 relating to transactions in securities


Correct Option: C

The Board of Trustees of the UTI does not have nominees from

  1. RBI

  2. LIC

  3. IDBI

  4. Bombay Stock Exchange (BSE)


Correct Option: D

UTI cannot

  1. provide corporate finance

  2. engage in real estate and property development business

  3. provide merchant banking services

  4. invest in securities


Correct Option: B

The role of AMFI in the mutual funds industry is not to

  1. promote the interests of the unit holders

  2. set a code of ethics

  3. regulate mutual funds

  4. increase public awareness of mutual funds in the country


Correct Option: C

Rights of investors in a mutual fund scheme are laid down in

  1. the offer document of that scheme

  2. quarterly reports

  3. annual reports

  4. marketing brochures


Correct Option: A

Unit holders' right to information does not include

  1. obtaining from the trustees any information having an adverse effect on their investments

  2. inspecting major documents of a fund

  3. receiving of a copy of the annual financial statements of that fund

  4. approving investment decisions of the fund


Correct Option: D

Investors have the right to receive interest from the AMC, if redemption proceeds are not dispatched within a period of

  1. one month

  2. 14 days

  3. 14 working days

  4. 10 working days


Correct Option: D

Unit-holders aggrieved by a mutual fund or an AMC can get redressed from

  1. Consumer Courts

  2. SEBI

  3. AMFI

  4. RBI


Correct Option: B

UTI was set up by

  1. SEBI

  2. AMFI

  3. a special Act

  4. RBI


Correct Option: C

After dividend declaration, unit-holders are entitled to receive dividend within a period of

  1. one week

  2. 3D-days

  3. 42-days

  4. six weeks


Correct Option: B

After closure of the initial offer of an open ended scheme, on-going sales and repurchases must start within

  1. one week

  2. 30 days

  3. 45 days

  4. 180 days


Correct Option: B

The Capital of a scheme does not include

  1. unit capital

  2. reserves

  3. borrowing

  4. net worth of the AMC


Correct Option: D

The prospectus or offer document containing the details of a new scheme is first registered with the

  1. AMFI

  2. SEBI

  3. Bombay Stock Exchange

  4. Ministry of Finance


Correct Option: B

The offer document of a closed-end fund is issued

  1. every year

  2. only once at the time of issue

  3. every quarter

  4. every six months


Correct Option: B

The offer document issued by mutual funds does not serve the purpose of

  1. announcing the launch of the scheme

  2. giving detailed information about the scheme

  3. explaining the risk factors of the scheme

  4. giving the fund manager's investment outlook for the next quarter


Correct Option: D

SEBI does not require the following to be included in the offer document issued by a mutual fund

  1. details of the sponsor and the AMC

  2. description of the scheme and investment objective/strategy

  3. investors' rights and services

  4. performance of other mutual funds


Correct Option: D

Which of the following is true about the 'fundamental attributes of a scheme'?

  1. Investment objectives of a scheme is not a fundamental attribute

  2. They can be changed after informing investors and taking approval from SEBI and trustees

  3. Offer document need not be updated after change in fundamental attributes of the scheme

  4. All are false


Correct Option: B

Which of the following is an SRO (Self Regulatory Organization)?

  1. NSE

  2. SEBI

  3. AMFI

  4. RBI


Correct Option: A

A Self Regulatory Organization can

  1. regulate all entities in the market

  2. regulate only its own members in a limited way

  3. regulate its own members with total jurisdiction

  4. regulate no one


Correct Option: B

Unit holders of a scheme do not have the right to

  1. proportionate ownership of scheme's assets

  2. dividend declared for that scheme

  3. dividend declared for other schemes of the mutual fund

  4. all of the above


Correct Option: C

The amount of authority enjoyed by a self regulatory organization is defined by

  1. The apex regulatory authority

  2. Company law board

  3. Its own members

  4. RBI


Correct Option: A

The responsibilities of a unit-holder do not include:

  1. monitoring his investments carefully

  2. being aware of information that affects his investment in a major way

  3. carefully studying the offer document

  4. taking decisions about where the fund managers should invest


Correct Option: D
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