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Umar Shaikh:

Chapter 1
1

------------------------- offer Tax benefits u/s 80c to investors.


a Equity Linked saving scheme.
b Thematic Funds.
c Sector Funds
d Arbitrage funds

PMS refers to -------------------------.


a Profit management scheme
b Public management scheme
c Portfolio Management Scheme
d Position Management

Types of Equity funds are ________________.


a Diversified Equity scheme
b Thematic Scheme
c Sector Funds
d All of the above

4) ____________________is like an index fund that invest in gold.


a
b
c
d

Gold funds
Gold exchange traded fund
Gold sector fund
Any of the above

5) High yield bonds schemes is another name of __________________.


a
b
c
d

Gilt funds
Diversified debt funds
Junk bonds schemes
Fixed maturity scheme

6) ________________ are close ended schemes


a
b
c
d

Monthly income plan


Capital protected schemes
Equity linked saving schemes
Balance fund

Chapter 2
7) Who generally focus on large investors.
a
b
c
d

Direct sales team


Channel manager
Adverting and sales promotion team
Compliance officer

8) ______________ has custody of assets of the fund.

a
b
c
d

Fund manager
Directors
Sponsors
Custodian

9) Day to day management of the Mutual fund scheme is handled by an


___________.
a
b
c
d

AMFI
SEBI
AMC
SPONSORS

10) Collection banker are appointed by____________.


a
b
c
d

Fund manager
Directors
AMC
None of the above

11) Sponsors are responsible of the audit of account


a
b

True
False

12) All custodian need to register with ______________.


a
b
c
d

AMFI
SEBI
RBI
None of the above

Chapter 3
13) A debt Scheme would need to invest at least ______________.
a
b
c
d

50%
55%
65%
60%

14) The investors can appoint a ____________ who will be entitled to the Units in
the Units in the event of the demise of the investor/s.
a
b
c
d

Agent
Nominee
Any of the above
None of the above

15) Investors shall follow uniform performance reporting on the basis of total
return.
a
b

True
False

Chapter 4
16) AGNI refers to _______________.
a
b
c

AMFI Guidelines & norms for investors


AMFI Guidelines & norms for Intermediaries
AMFI Guidelines & norms for investment

17) Within ____________ days of dividend declaration, warrants will have to be


sent to investors.
a
b
c
d

7 days
10 days
15 days
30 days

18) In case of NFO of allotment of units or refund of moneys should be done with
in _____________ business days of the closures of the scheme.
a
b
c
d

7 days
10 days
5 days
4 days

19) Regular update of scheme SAI is to be done by the end of ______________


months of every financial years.
a
b
c
d

2
6
5
3

20) Content of SAI are _____________.


a
b
c
d

Condensed financial information


Rights of units holders
Investment valuation norms
All of the above

Chapter 5

21) After passing the examination, to sell the mutual fund the next stage is to
register with AMFI.
a
b

True
False

22) In audio-visual media, the statement Mutual Fund investments are subject
to market risks, read thee offer document carefully before investing should
cover at least ____________ of the total screen.
a
b
c
d

5
6
4
7

sec
sec
sec
sec

23) Trail commission is normally paid by the AMC on a _____________ basis.


a
b
c
d

Monthly
Weekly
Quarterly
Daily

24) Distributors can claims commission on investment made through them by


their clients.
a
b

True
False

25) Mutual fund transaction engines are ____________


a
b
c
d

NSE
BSE
Both
Either (A) or (B)

Sandeep Kokase:
Chapter 1.
1.The Mutual fund is constituted as
a. A Trust
b. A Private limited company
c. An asset management company
d. A trustee company
2.Investing in Mutual funds offers liquidity to investors.

a.True
b.False
3.Interval funds combine features of both open-ended and close ended schemes.
(a) TRUE
(b) FALSE
4. Investor wants to invest in only treasury bills and government securities. He
will invest in
(a) Actively Managed Funds
(b) Diversified Funds
(c) Sector Funds
(d) Gilt Funds
5.A mutual fund is not
a. A portfolio of stocks, bonds and other securities
b. A company that manages investment portfolios
c. A pool of funds used to purchase securities on behalf of investors
d. A collective investment vehicle
6._____________ linked to a host fund
(a)Foreign Investment Fund
(b) International funds
(c)Feeder Funds
(d) Normal Funds
7. An open-ended fund has to be listed on an exchange.
a.True
b. false
8.Sensex stands for
(a) Securities Index
(b) Sensitive Index
(c) SEBI Securities
(d) Sector Index

9.ETFs are
(a) Exchange Tradable Funds
(b) Exchange & Traded Funds
(c) Exchange Traded Funds
(d) Exchange Trading Funds

Chapter 2
1.___________ are the main people behind the mutual fund operation
(a) RTA
(b) AUM
(c) Custodian
(d) Sponsors
2._________have a key role in selling suitable types of units to their clients i.e. the
investors in the schemes
(a) Sponsors
(b) RTA
(c) Distributors
(d) Collecting Bankers
3.Sponsor must hold at least _________% of the AMCs capital
a.20%
b.30%
c.40%
d.50%
4. AMCs net worth has to be at least _________.
a.10crore
b.20crore
c.50crore
5.At least ____ of the trustees / directors on the Board of the trustee company,
would need to be independent trustees [

1 Marks ]
(a) 1/3
(b) 2/3
(c) 4
(d) 1
6.The appointment of an AMC can be terminated by a _______ of the trustees, or
by ____ of the Unit-holders.

(a) 75%,Majority
(b) Majority, Majority
(c) 75%,75%
(d) Majority,75%
7. _______ arranges for the requisite offices and infrastructure, engages
employees, provides for the requisite software, handles advertising and sales
promotion, and interacts with regulators and various service providers.

(a) RTAs
(b) Sponsors
(c) Custodian
(d) AMC
Chapter 3
1. Market Capitalization of a company can be calculated by multiplying the
market price of the company's share by the total number of its outstanding
shares in the market.
(a) TRUE
(b) FALSE
2. for call the money market the regulator is & money market mutual
funds are regulated by ________.
a.RBI, SEBI
b.SEBI, RBI
c.AMFI , RBI

3. SEBI regulates __________.


a. Mutual Funds
b. Depositories
c. Registrar & Transfer Agents
d. All of the above
4.The names and background of key personnel of the AMC
a. Need not be disclosed to investors
b. Are of no relevance as they may change
c. Are disclosed in the offer document
d. Are declared in newspaper advertisements
Chapter 4
1. The functions and responsibilities of the sponsor, AMC, trustees and custodian
of the
mutual fund are listed in
a. Offer document only
b. Key information memorandum
c. Both offer document and key information memorandum
d. None of the above
2.The offer document and key information memorandum contain financial
information for
a. All schemes of all mutual funds in the capital market
b. All schemes launched by the particular fund during the last 3 fiscal years
c. None of the schemes
d. Companies in which investment is proposed
3. An offer document contains an AMCs investor grievances history for the past
a. 1 fiscal year
b. 2 fiscal year
c. 3 fiscal year
d. Six months

4.The KIM has to be appended to every application form.


A.True
b.False
5. Once an investor signs on an application form it is assumed that he /she must
have read the offer document.
a.True
b.False

Chapter 5.
1. A passive fund invests in the same securities, in the same proportion as in an
_______.
a.index
b.gold
c.commodities
d.none of above
2. If the interest rate goes up, yield of bonds will go_____.
a.down
b.up
c.no change
3. AMCs pay a trail commission for the period the investment is held in the

scheme.
a.True
b.False
4. Sectoral funds can invest more than 10% of its NAV in a single
company.
a.True
b.False
5. If rating of bond is change from AA- to AAA the price of bond
will_________&

the yield _______.


a.Rise, Decrease
b.decrease,rise
c.rise,rise
Yogesh Kangale
Chapter 1

1. Providing funds for a daughters marriage is an example of_________.


a. Goal oriented financial plan
b. Comprehensive financial plan
c. Financial goal
d. none of the above.

2. Money raised from investors ultimately benefits ___________.


a. Government
b. Companies
C. Both of the Above
d. none of the above.

3. Under the law, every unit has a face value of ___________.


a. 100
b. 1000
C. 0
d.10

4. Which schemes may have different face value than Rs 10 in the market?
a. older schemes
b. NFO

c. both of them
d. none of them

6. Capital of the Scheme is ?


a. The number of units multiplied by its face value
b. The number of units divided by its face value
c. Summation of number of units and its face value
d. Subtraction of number of units and its face value.

7. The true worth of a unit of the scheme is called


a. Net Asset Value (NAV)
b. Capital of Scheme
c. Asset under management (AUM)
d. None of the above.

8. The relative size of mutual fund companies is assessed by their


a. Net Asset Value (NAV)
b. Capital of Scheme
c. Asset under management (AUM)
d. None of the above.

9. Who is the regulator of mutual funds


a. Securities & Exchange Board of India (SEBI)
b. RBI
c. Insurance regulatory development authority (IRDA)
d. None of the above.

10. Diversification enables reduction of risk

a. True
b. False

11. Investors can buy units of a close-ended scheme, from the fund, only during
its NFO.
a. True
b. False

Chapter 2
1. Mutual fund is managed by
a. AMC
b. Sponsor
c. Custodian
d. SEBI

2. Day to day management of the schemes is handled by


a. AMC
b. Sponsor
c. Custodian
d. SEBI

3. The unit holders are ___________owners and the trust is the __________owner of
the mutual fund's assets.
a. beneficial, registered
b. indirect, direct
c. registered, beneficial
d. direct, indirect.

4. Distributors need to pass the prescribed certification test, and register with
AMFI.
a. True
b False

5. Collection bankers are appointed by


a. AMC
b. Sponsor
c. Custodian
d. SEBI.

Chapter 3

1. SEBI regulates mutual funds, depositories, custodians and registrars & transfer
agents in the country.
a. true
b. false

2. KIM means ____________.


a. Key Information management
b. Key Information Money
c. Key information memorandum
d. Key Information Market

3. In the event of delays in dispatching dividend warrants or


redemption/repurchase cheques, the AMC has to pay the unit-holder, interest at
the rate of ___________.

a. 20% p. a.
b. 15% p.a.
c. 10% p.a.
d. 25% p.a.

4. PAN No. and KYC documentation are compulsory for mutual fund investments
in micro-SIP's
a. True
b. False

5. Statement of account (NFO) is to be sent to investors within _____ days of the


allotment of units
a. 3
b. 5
c. 7
d. 15

Chapter 4
1. Application form is attached to _________.
a. SID
b. SAI
c.KIM
d. None of the above.

2. Under the SEBI guidelines, NFOs other than ELSS and RGESS can remain open
for a maximum of _________ days.
a. 10
b. 15
c. 20

d. 30

3. Legally SAI is a part of SID


a. True
b. False

4. Special products available in the NFO are


a. Systematic investment plan
b. Systematic Transfer plan
c. Systematic withdrawal plan
d. All of the above.

5. Investment in the overseas securities shall be made in accordance with the


requirements stipulated by _____________ and _______________ from time to time.
a. SEBI, RBI.
b. AMFI, RBI
c. AMC, SEBI
d. Custodian and SEBI.

Chapter 5
1) FULL FORM OF UTI?
A) UNITED TRUST OF INDIA
B) UNIT TRUST OF INDIA
C) UNION TRUST OF INDIA

2) The internet gave an opportunity to mutual funds to establish direct contact


with investors. Direct transactions afforded scope to optimize on the commission
costs involved in distribution
TRUE OR FALSE

3) FOR WHOSE BENEFIT DOES THE MUTUAL FUND INDUSRTY EXITS?


A) FOR CORPORATES
B)FOR INSTITUTIONAL INVESTORS
C)FOR FII
D) FOR RETAIL INDIVIDUALS

4) SEBI has facilitated buying and selling of mutual fund units through the stock
exchanges?
TRUE OR FALSE?

5) Close-ended schemes are required to be listed in a stock exchange?


TRUE OR FALSE?

Rahul:
CHAPTER 1
1.Sensex stands for [ 1 Marks ]
(a) Securities Index
(b) Sensitive Index
(c) SEBI Securities
(d) Sector Index
2.A mutual fund is not (1 mark)
a. A portfolio of stocks, bonds and other securities
b. A company that manages investment portfolios
c. A pool of funds used to purchase securities on behalf of investors
d. A collective investment vehicle

3.Interval funds combine features of both open-ended and close ended schemes.
[ 1 Marks ]
(a) TRUE
(b) FALSE

4._____________ linked to a host fund [ 1 Marks ]


(a)Foreign Investment Fund
(b) International funds
(c)Feeder Funds
(d) Normal Funds

5. Various categories of schemes are called _____________?


a) funds
b) units
c) lots
all of the above

CHAPTER 2
1.Sponsor must hold at least _________% of the AMCs capital
a.20%
b.30%
c.40%
d.50%
2. AMCs net worth has to be at least _________.
a.10crore
b.20crore
c.50crore
3. Who starts the mutual fund?
a) AMC

B) TRUSTEE
C) SEBI
D) SPONSORS

4. AMC HOLDS THE ASSETS OF MUTUAL FUND?


TRUE OR FALSE

5.AMC APPOINTS THE TRUSTEE?


TRUE OR FALSE

Chapter 3
1. Dividend warrants have to be dispatched to investors within 30 days of
declaration of
the dividend
a.True
b.False
2. NAV has to be published
a.daily
b.weekly
c.monthly.
3. AMFI is an industry body, but not a self-regulatory organization
a.True
b.False
4. Unit holders can hold their units in demat form.
a. True
b. False
5.SRO STANDS OF ?

A)SELF REGULATORY ORGANIZATION


B) STATUTORY REGULATORY ORGANIZATION
C) STATUAROY RULES ORGANIZATION
CHAPTER 4

1)AMC prepares the Offer Document for the NFO. This needs to be approved by
the Trustees and the Board of Directors of the AMC which are also approved by
SEBI?
TRUE OR FALSE

2) NFO CAN REMAIN OPEN FOR MAXIMUM?


A) 5 DAYS
B)10 DAYS
C) 15 DAYS
D) 30 DAYS

3) INVERTOR CAN SUE THE TRUST


TRUE OR FALSE

4) WHETHER THE SCHEME IS A OPEN ENDED OR CLOSE ENDED SCHEME IS A


FUNDAMENTAL ATTRIBUTE OF THE SCHEME?
TRUE OR FALSE

5) KIM IS ESSENTIALLY A SUMMARY OF SID & SAI?


TRUE OR FALSE

6 ) KIM HAS TO BE UPDATED EVERY


A
B
C
D

EVERY MONTHS
EVERY 3 MONTHS
EVERY MONTHS
YEARLY

Chapter 5
7) KYD STANDS FOR?
A)KNOW YOUR DOCUMENT
B) KNOW YOUR DEPOSITOR
C) KNOW YOUR DEPOSITORY
D) KNOW YOUR DISTRIBUTOR

8) Empanelment with the AMC, or enrolment as an agent of an empanelled


distributor is compulsory to be able to sell mutual fund schemes and earn the
commissions?
TRUE OR FALSE

9) After passing the examination and completing KYD requirements, the next
stage is to register with AMFI , AMFI alots us ARN ..
ARN STANDS FOR?
A AGENT REGISTRATOIN NO
B ACCOUNT REGISTRATION NO
C AMFI REGISTRATION NO

10) There are SEBI regulations regarding the minimum or maximum commission
that distributors can earn
TRUE OR FALSE?
(However, SEBI has laid down limits on what the total expense (including
commission) in a scheme can be.)

11) INITIAL COMISSION IS PAID BY?


A) paid by the investor directly to the distributor
B) AMC TO THE DISTRIBUTORS

12) A mutual fund distributor is paid UPFRONT commission for as long as the
investors money is held in the fund
TRUE OR FALSE?