1. When an investor subscribes to a mutual fund –

2. Which of the following statements is true?

3. In India, a mutual fund is constituted as a

4. The following are benefits of mutual funds

5. The following is not a benefit of mutual funds-

6. The following are disadvantages of investing in mutual funds

7. UTI was established –

8. UTI was established in –

9. Non-UTI public sector mutual funds came into existence in

10. The first non-UTI mutual fund was established by-

11. Permission was granted for private sector mutual funds in India in

12. The current mutual fund regulations of SEBI came into effect in

13. Open end funds are

14. Closed end funds are

15. According to the Mutual Fund Regulations, 1996, ‘No load funds’ can charge ongoing sale expenses to the fund

16. Which of the following statements is true?

17. Which of the following statements is true?

18. Which of the following funds are considered to be the lowest in risk level

19. Gilt funds –

20. Which of the following is true –

21. The onus of covering any shortfall in an ‘assured return scheme’ proposed to be floated under the Mutual Fund Regulations, 1996 is with

22. Fixed term plans

23. The following is a logical risk progression

24. Which of the following funds is the most risky?

25. Which of the following is the least risky?

26. Asset management company is generally appointed by –

27. The main role of asset management companies is to

28. What is the minimum stake that a sponser needs to hold in the Asset Management Company?

29. The minimum net worth that an AMC needs to have is –

30. The minimum number of trustees who need to be independent persons is –

31. The Indian Trust Act provides for the following structure/s –

32. Custodian is appointed by –

33. The minimum and maximum stake that a single sponsor can have in an asset management company are respectively

34. The minimum investment that a single sponsor needs to make in an asset management company is

35. The trust deed is executed between

36. Which of the following are responsibilities of Trustees

37. Who has the responsibility to float schemes

38. Apart from its role as investment manager, an asset management can

39. The cut off time for AMCs to update their NAVs on the AMFI website is

40. The position on appointment of transfer agents is

41. Approval process for merger of two asset management companies includes –

42. Money Market Mutual Funds are regulated by

43. Changes in fundamental attributes of scheme require permission of unit holders as follows –

44. Appointment of an asset management company can be terminated by –

45. The requirement of independent directors in an asset management company is –

46. SEBI’s current regulations for mutual funds came into force in

47. Which of the following is a Self Regulatory Organisation

48. In case of Misrepresentation in offer document a proposed investor has legal recourse to

49. Under the Indian Trust Act, 1882, the Board of Trustees is accountable to

50. The apex regulatory authority under the Companies Act is

51. If the investor delays his application for redemption in a closed end scheme, he will be paid at

52. Unit holders are entitled to receive dividend warrants within

53. Interest is payable to investors if redemption proceeds are not dispatched

54. Which of the following qualifies as a Self Regulatory Organisation

55. SEBI requires the offer document of open end funds to be revised every YEAR

56. Offer document of close end funds is issued normally

57. The position of non-banks lending in the inter-bank call money market is

58. The following is the most appropriate position under the SEBI Mutual Fund Regulations, 1996

59. SEBI requires offer documents of funds to include the following information

60. The following are examples of ‘major changes’ for the purposes of offer document

61. What best describes the investor’s rights with respect to offer document

62. The front page of the Offer Document contains

63. The following is not a standard risk factor

64. The following are scheme specific risk factors

65. Due diligence certificate is signed by –

66. Due diligence certificate confirms that –

67. Key information Memorandum –

68. Minimum education requirement for UTI agents is-

69. The following is not a AMFI recommendation regarding practices for effective selling of mutual funds by

70. As per SEBI Regulations it is mandatory for –

71. Your cousin has migrated to Canada on receiving Canadian citizenship. You will advise him to –

72. Which class of Investors is not allowed to invest in Indian Mutual Fund?

73. A Prescribe a minimum commission rate for agents

74. The following statements with regard to performance advertisements are correct

75. In the US

76. NAV of a close end scheme needs to be calculated and published

77. Which of the following combinations of sale and repurchase prices is admissible for an open-end scheme as per SEBI guidelines?

78. Mutual Funds shall ensure that sale price for new units issued by the fund is –

79. Re-purchase price specified by SEBI is –

80. Maximum permissible spread between sale and repurchase price is

81. Cap on initial expenses in floating a scheme is –

82. No mutual fund shall make an investment in listed securities of group companies of the sponser, that is in excess of –

83. Management fees are not payable on

84. For a security to be treated as non-traded for valuation purposes, it should not have been traded

85. A load-scheme had average weekly net assets of Rs.200 crore throughout the year. Maximum management fee that could be charged for the year is –

86. NAV of an open end scheme needs to be calculated and published

87. A scheme with 1000 unit holders has the following items in its balance sheet – Unit Capital Rs.10,000; investments at market value Rs.25,000; other assets Rs.3,500; Other liabilities Rs.2,000; issue expenses not written off Rs.500; reserves Rs.17,000. What is the scheme’s NAV per unit?

88. The position on tax benefit under section 88 for investment in units of pension scheme floated by a mutual fund is –

89. The unit capital of a mutual fund scheme is Rs.20 million. The market value of investments is Rs.55 million. If the number of units outstanding is 1 million, what is the NAV per unit?

90. Expenses need not be accrued for purposes of NAV calculations, if such non-accrual does not affect the NAV by more than

91. Under the MF Regulations, the following cannot be charged to the schemes –

92. Which of the following statements is true

93. Dividend on a share should be recognized by the scheme on

94. Purchase / sale of investments should be recognized in the accounts of a scheme –

95. A scheme purchased 1000 TISCO shares at Rs.120 per share, followed by a further purchase of 500 shares of TISCO at Rs.90 per share. It later sold 500 shares at Rs. 120. What is the scheme’s net gain on the sale?

96. An asset shall be classified as non-performing, if the interest and / or principal amount have not been received –

97. The provisions related to non-performing assets apply to

98. What is the period over which NPAs need to be fully provided

99. Deep discount bonds would be classified as NPA if

100. An equity / equity related security is considered as a thinly traded security if