Feel Real Exam 3- NISM-Series-V-A: Mutual Fund Distributors Certification

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NISM-Series-V-A: Mutual Fund Distributors Certification

Feel Real Exam 3- NISM-Series-V-A: Mutual Fund Distributors Certification

The number of attempts remaining is 10

1 / 100

1. ______ is responsible for ensuring the valuation of the securities in a mutual fund scheme’s portfolio are true and fair.

2 / 100

2. An investor in a mutual fund scheme is the beneficial owner of the units one has bought.

3 / 100

3. The empanelment of a mutual fund distributor by an Asset Management Company can be terminated ______ .

4 / 100

4. Ms. Priya redeems 2000 units at an NAV of Rs 13. If the exit load is 1 percent, what is the redemption value of the investment?

5 / 100

5. In the case of Exchange Traded Funds (ETFs), the minimum investment in securities of a particular index (which is being replicated/tracked) shall be ___ percent of total assets.

6 / 100

6. Identify the INCORRECT statement/s with respect to investments in real estate.

7 / 100

7. Management of investments by mutual funds is governed by ______ .

8 / 100

8. How can an investor remit money in an Indian mutual fund from abroad?

9 / 100

9. Identify the TRUE statement

10 / 100

10. A trader believes that he can always outperform the market. This is an example of ____ bias.

11 / 100

11. Which of these is NOT a function of Registrars and Transfer Agents?

12 / 100

12. Which information has to be included in the mutual fund application form when a Non-Resident Indian (NRI) subscribes for the units?

13 / 100

13. The units of a Close-ended mutual fund are traded between the unit holders/investors and ______ on the stock exchange.

14 / 100

14. Who handles the appeals which are made against the rulings of SEBI?

15 / 100

15. Identify the false statement(s). A) The best strategy in selecting a mutual fund scheme is that based on its past performance B) When an investor wants to redeem from a scheme, the distributor must suggest redemption from the scheme with the maximum exit load

16 / 100

16. Who specifies the heads of expenses that can be charged to a mutual fund scheme by the Asset Management Company?

17 / 100

17. ______ is/are frequently used by media and research analysts to check the performance of various schemes of a mutual fund.

18 / 100

18. An investor chooses a mutual fund scheme based on whether his / her ________ matches with that of the scheme.

19 / 100

19. Who applies to SEBI for the registration of a Mutual Fund?

20 / 100

20. Identify the true statement with respect to ‘Unclaimed Dividend’ in mutual fund schemes.

21 / 100

21. Identify the category of mutual fund scheme in which the Net Asset Value (NAV) has to be declared for up to 4 decimal points?

22 / 100

22. Identify the TRUE statement with respect to Systematic Investment Plan (SIP)?

23 / 100

23. Performance of a portfolio is influenced by _______.

24 / 100

24. Identify the true statement(s) – A) Individuals can register up to five bank accounts with a mutual fund B) A Non-Individual can register up to ten bank accounts with a mutual fund

25 / 100

25. A minor has one more year to become a major. A 3-year SIP is started in the minor’s folio. Which of the following statements is true in this case?

26 / 100

26. If one wants to know the General Risk Factors, then which document should he read?

27 / 100

27. ______ is used to measure the fund’s risk relative to the market index.

28 / 100

28. Which of these statement(s) is / are TRUE? A) The Asset Management Company (AMC) is not accountable for the procedures for detecting incorrect valuation B) It is mandatory for the AMC to disclose the valuation policy

29 / 100

29. AMCs have to put in place a due diligence process to regulate distributors who ______ .

30 / 100

30. What will happen if one of the joint holders of a mutual fund folio dies?

31 / 100

31. In order to ensure fairness to investors, _____ has prescribed cut-off timing to determine the applicable NAV.

32 / 100

32. Identify the TRUE statement/s – A. Time stamping is relevant only for Financial transactions and not for Non-Financial transactions B. Time stamping is relevant for both Financial and Non-Financial transactions

33 / 100

33. Identify the TRUE statement

34 / 100

34. In case of any conflict between the Principles of Fair Valuation and AMC’s Valuation Guidelines, _________ .

35 / 100

35. Identify the true statement(s) – A) Beta is a measure of risk only for equity schemes B) Variance is a measure of risk for both debt and equity schemes C) A fall in prices of the debt securities due to default, etc., is known as a ‘credit event’

36 / 100

36. In the Mutual Fund industry, every AMC gives an ARN code number to the mutual fund distributor which is to be renewed every three years – True or False?

37 / 100

37. As per the Advertisement Guidelines for Mutual Funds, Point-to-point returns on a standard investment of Rs. 10,000 shall also be shown in addition to CAGR for a scheme which has been in existence _______.

38 / 100

38. The investors of a mutual fund can terminate the AMC or wind up a scheme if _____ % or more of the unit holders agree to it.

39 / 100

39. A person who wants to retain liquidity in his investments will invest in _____ .

40 / 100

40. Who handles the appeals which are made against the rulings of SEBI?

41 / 100

41. Which of these are considered as Institutional group of investors?

42 / 100

42. The equity share prices of gold mining companies can depend on : 1. The gold reserves of the company 2. The operational efficiency and management of the company 3. International prices of gold

43 / 100

43. Which expenses can be charged by the AMC to a mutual fund scheme?

44 / 100

44. In the usual course of events, a fund manager will have to provide the maximum liquid assets for _______ .

45 / 100

45. An investor in a mutual fund scheme is the beneficial owner of the units one has bought.

46 / 100

46. When there is a need to withdraw money from a scheme (i.e. repurchase / redemption), the distributor must assess the implications of ______ and ______ on the investor’s portfolio.

47 / 100

47. _______ can be used in lieu of Income distribution cum capital withdrawal pay-outs.

48 / 100

48. Unitholders have the right to inspect key document/s like ________ with respect to their mutual fund investments.

49 / 100

49. Which of these is an important factor while estimating the correct future value of a financial goal?

50 / 100

50. Mr. Suresh invests Rs 2,00,000 in a mutual fund with a face value of Rs 10 and NAV of Rs. 50. How many units will be allotted to him?

51 / 100

51. Identify the true statement(s) – A) The nominee is the beneficial owner of the mutual fund units B) Nomination does not create any title or beneficial interest in the units in favor of the nominee after the death of the unit-holder

52 / 100

52. Which one of these is an advantage of investing in Mutual Funds?

53 / 100

53. Identify the document which authorizes a company to invest in a specific mutual fund?

54 / 100

54. When there is a need to withdraw money from a scheme (i.e. repurchase / redemption), the distributor must assess the implications of ______ and ______ on the investor’s portfolio.

55 / 100

55. Which of the following is true for unclaimed dividend in mutual fund schemes?

56 / 100

56. Identify the TRUE statement with respect to Total Expense Ratio (TER).

57 / 100

57. In which of these options will the unit balance increase in the mutual fund investor’s folio without any transaction being done by the investor?

58 / 100

58. A trader believes that he can always outperform the market. This is an example of ____ bias.

59 / 100

59. Which of these investors is allowed to do a nomination?

60 / 100

60. Mr. Sonu reads about the risk factors given in the offer document and invests in an equity mutual fund scheme. After a few days, the stock market crashes, and NAV of the equity fund goes down. What can Mr. Sonu do in such a situation?

61 / 100

61. _______ will help the investors understand the suitability of a mutual fund scheme to them.

62 / 100

62. Identify the false statement(s) – A) Share certificate is a physical asset B) Debenture is a physical asset as the paper on which it is printed has value

63 / 100

63. Identify the TRUE statement/s with respect to Statement of Additional Information (SAI). A. Regular update has to be done by the end of 3 months of every financial year B. Material changes have to be updated on an ongoing basis and uploaded on the websites of the mutual fund and AMFI.

64 / 100

64. How often should the Key Information Memorandum (KIM) be updated?

65 / 100

65. When an investor wants to redeem from a scheme, the distributor must suggest redemption from the scheme with the minimum exit load.

66 / 100

66. Key Information Memorandum (KIM) is a summary of ______ .

67 / 100

67. Mr. Suresh invests Rs 2,00,000 in a mutual fund with a face value of Rs 10 and NAV of Rs. 50. How many units will be allotted to him?

68 / 100

68. As the complete exposure is to a single sector, Sector Funds are high on _____ .

69 / 100

69. Identify the TRUE statement with respect to mutual fund trading on Stock Exchanges –

70 / 100

70. Sale of units of equity-oriented mutual fund (delivery based) will attract Securities Transaction Tax at ______ %.

71 / 100

71. Who applies to SEBI for the registration of a Mutual Fund?

72 / 100

72. The sponsor of a mutual fund can be compared to the Chief Executive of a company – State True or False?

73 / 100

73. _____ investment styles mean buying stocks which are priced lower in the markets than the assessment based on fundamental analysis.

74 / 100

74. Identify the false statement with respect to mutual fund scheme related documents.

75 / 100

75. Commodities as an asset class does not include ________.

76 / 100

76. Which of these is NOT a function of Registrars and Transfer Agents?

77 / 100

77. Mr. Suresh invests Rs 30000 in an equity fund. The face value of this scheme is Rs 10 and the NAV is Rs 12. The exit load is 2%. How many units will be allotted to Mr. Suresh?

78 / 100

78. Which intermediary is responsible for the implementation of uniform KYC?

79 / 100

79. Commodities as an asset class does not include ________.

80 / 100

80. The actual performance of an index fund can be better or worse than its benchmark due to _________ .

81 / 100

81. With respect to a model portfolio for Senior Citizens, it will not have any exposure to equity.

82 / 100

82. Mr. Amit wants to invest in a mutual fund scheme. He has to give the request for purchase specifying the ______ .

83 / 100

83. A ________ investor will prefer lower risk and will settle for a lower return.

84 / 100

84. Identify the false statement/s:

1. While evaluating the mutual fund schemes, the expense ratio matters more in debt funds than equity funds
2. An Ultra-short term debt fund has to mandatorily invest in high credit quality debt securities

85 / 100

85. Mutual funds must publish their unaudited accounts once every six months ______ .

86 / 100

86. Which of these is a Passive Fund? A) Gold Sector Fund B) Gold Mining Companies Fund C) Gold Exchange Traded Fund D) Gilt Funds

87 / 100

87. The minimum investment in G-Secs (as a percentage of total assets) in case of a Gilt Fund is ______ .

88 / 100

88. Which of the following statements is true with respect to ‘Mark to Market’?

89 / 100

89. The investment range in debt instruments is between ___ of total assets in a Conservative Hybrid Fund.

90 / 100

90. In case the units are pledged, the unit holder ______ .

91 / 100

91. Mutual funds must publish their unaudited accounts once every six months

92 / 100

92. Recency bias applies to ______ events.

93 / 100

93. Identify the TRUE statement(s)

1. In an Assured Return scheme, if the scheme is not able to pay the assured return amount, then the guarantor has to pay the same
2. Investor returns might vary from the scheme returns on account of choices regarding the investment schedule
3. The returns published in a mutual fund advertisement factor the entry or exit load, as may be applicable.

94 / 100

94. _______ is considered as an Institutional Investor.

95 / 100

95. Identify the true statement with respect to Total Expense Ratio?

96 / 100

96. In which of the following options does an investor receive the distribution in hand?

97 / 100

97. Among equity funds, Focused funds carry _______ risks as compared to diversified funds due to ______ .

98 / 100

98. Identify which statement is true?

99 / 100

99. Identify the false statement with respect to mutual fund scheme related documents.

100 / 100

100. Identify the true statement(s) – A) The nominee is the beneficial owner of the mutual fund units B) Nomination does not create any title or beneficial interest in the units in favor of the nominee after the death of the unit-holder

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