1. Standard risk factors are not

2. The risk of a scheme’s NAV moving up or down on the basis of capital market movements is a standard risk factor

3. Past performance of a sponsor/AMC mutual fund is not indicative of the future performance of the scheme. This is

4. Risk arising from a scheme’s investment objective/strategy and proposed asset allocation is

5. In an assured returns scheme, it assurance is only for a limited period, it must be stated in the offer document that there is no guarantee for sustaining the assured return for the remaining duration of the scheme

6. If the AMC is managing a fund for the first time, this information can be found in

7. A compliance officer

8. The due diligence certificate that must be submitted to SEBI along with the draft offer document cannot be signed by

9. A due diligence certificate does not certify that

10. In developed countries, an important Mutual Fund marketing channel is through

11. Emerging or new channel for distributors/marketing or Mutual Fund in India is

12. Mutual Funds often use their own employees to mobilise funds from

13. Retail distribution channels are a critical element in the distribution of mutual funds in India

14. “Sales Practices” cover the following areas

15. The following are not termed as “sales practices”

16. Sales practices are never mandated by regulators, but arise from convention only

17. Agents are compensated by mutual funds

18. In India the minimum or maximum commissions payable to distributors are not prescribed by law, but are decided using the fund’s own discretion

19. Lowest commissions are paid on

20. Excess distribution expenses are to be borne by the

21. To cover fund distribution expenses, open ended funds

22. Trail commission means paying

23. Sub-brokers serve as agents of the principal broker and a mutual fund is not answerable for their activities

24. In India, Mutual fund agent’s rate and services are at present defined by

25. Along with the application, it is mandatory to distribute

26. To sell funds effectively, an agent need not

27. For investors to correctly compare performance of different funds SEBI’s advertising  codes include

28. SEBI’s advertising code mandate that all performance calculations in a fund’s advertisement should be based

29. An agent’s appointment by a fund

30. An investor does not have recourse to his agent in case of errors, problems or the quality of the investment

31. An agent can offer and sell a fund’s units at

32. All buy orders through an agent do not become valid till the fund accepts and confirms the orders

33. When an agent purchases, offers or sells units, ensuring compliance with applicable regulations is the responsibility of

34. The terms of appointment of a broker by a fund are

35. The code of ethics for mutual funds published by AMFI

36. The AMFI code of ethics does not cover the following prescriptions

37. Distribution and sales practices are only partly regulated by SEBI at present

38. Which of the following distribution channels is preferred by private mutual funds

39. Which of the following sales practices is prescribed by regulation

40. In a mutual fund investor’s subscriptions are accounted for as

41. Investments made by a mutual fund on behalf of investors are accounted as

42. Liabilities in the balance sheet of a mutual fund are

43. Net asset Value (NAV) of a mutual fund scheme is defined as the schemes

44. The day on which NAV is calculated by a fund is known as

45. Which of the following expenses cannot be charged to the scheme

46. The structure, which is required to be followed by mutual funds in India, is laid down by

47. The sponsor of a mutual fund may be compared to

48. The role of an AMC is to act as

49. When computing NAV of fund SEBI requires accrual of major expenses to be accounted

50. Issuing and redeeming units of a mutual fund is the role

51. A change in the following key people does not materially impact the performance of the fund

52. To transfer the management of a scheme from one AMC to another, the consent of the following is required

53. A Fund’s NAV is affected by

54. The Board of Trustees of a mutual fund:

55. For a close-ended fund, the repurchase price should not be lower than

56. Transfer Agents of a mutual fund are not responsible for

57. The fund sponsors should have a sound financial track record of

58. Which of the following are not true for Equity Linked Savings Schemes ?

59. The custodian of a mutual fund:

60. Distributors or agents

61. A transfer in the management of a close-ended scheme does not require the consent of

62. The fund sponsor has to contribute

63. The networth of an asset management company should be greater than

64. Which of the following is not true for Index Funds?

65. The custodian of a mutual fund :

66. As per SEBI’s principles, the AMC and the Board of Trustees of a fund should belong to the same sponsors

67. If a fund calculates NAV daily, it will include all the transaction concluded up to

68. The trust that manages a mutual fund is appointed by

69. The AMC of a mutual fund cannot

70. The AMC and directors are answerable to

71. After UTI, the first mutual funds were started by

72. For an open-ended fund, the repurchase price should not be lower than

73. Initial expenses of launching schemes should not exceed

74. The highest authority among the following is the

75. For a scheme that has a load, the AMC can charge an investment management fee not exceeding

76. The entity that SEBI does not regulate is

77. The accounts and all other records of an AMC are filed with

78. A close-ended scheme of a mutual fund is not governed by

79. The entry of mutual funds in India was initiated by mutual funds set up by

80. For a close-ended scheme to change its fundamental attributes, it must obtain the consent of

81. The largest corpus of investable funds in India is with

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

83. UTI cannot provide

84. The “Capital” of a scheme does not include

85. Which of the following are Self-Regulatory Organisations

86. A Self-Regulatory Organisation can regulate

87. The amount of authority enjoyed by a Self-regulatory organization is defined by

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

89. The rights of investors in a mutual fund scheme are laid down in

90. Unit holders of a mutual fund scheme do not have a right to

91. After dividend declaration, unit-holders are entitled to receive dividend within

92. Unit holder’s right to information does not include

93. Shortfalls in the case of assured returns schemes are met

94. Unit-holders aggrieved by a Fund or AMC can get redressed from

95. If the Directors of an AMC commit fraud, the Department of Company Affairs and the Company Law Board cannot protect Unit-holders investments

96. The responsibilities of a unit-holder do not include :

97. Unit scheme US-64 falls under the purview of SEBI

98. UTI was set up by

99. Bank owned Mutual Funds are supervised by

100. Investor does not have the right to receive any interest from an AMC if his redemption proceeds are not dispatched within 10 working days