Download Amfi Mock Test Paper PDF

TitleAmfi Mock Test Paper
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Total Pages48
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Page 2

10. Private sector was permitted to enter the
mutual fund industry in India in the year
a) 1993
b) 1963
c) 1987
d) 1996

11. In India the first mutual fund was established.
a) Before SEBI regulation 1996
b) Before UTI was established in1963
c) After SEBIregulation 1996
d) When public sector mutual funds were established in 1987
Ans: a

12. The Assets under management in the Indian mutua l fund industry as at end of financial year 2004-20 05 was close to
a) Rs 153 cr
b) Rs.1530cr
c) Rs.15300cr
d) Rs 153/000cr
Ans: d

13. Identify the Correct statements.
a) Investing in a mutual fund is likely to be less risky compared to directly investing in the market.
b) A mutual fund enables a small investor build a diversified portfolio
c) Investment in a mutual fund offers more liquidity.
d) All are correct.

14. When you invest in an open-ended mutual fund sc heme, which of the following decisions is fare not taken by you?
a) Which share to buy and which share to sell?
b) What prospective changes would be made to the load structure?
c) At what NA V you should exit
d) The first two decisions.

15. The correct description of a mutual fund is
a) It is a company
b) It is a development financial institution
c) It is a financial intermediary
d) It is non-banking finance company

16. The birth place of Mutual Funds is
a) UK
b) Japan
c) Canada
d) USA

17. Important development (s) that took place in th e Indian mutual fund industry February 2003 was/wer e
a) Repealing: of UTI Act
b) Establishment of UTIMF
c) Creation of level playing field
d) all of the above.

18. Distributors are required to abide by a code of conduct as prescribed by SEBI. This code is based on
c) ARN

Page 24

224. For a closed end scheme, initial issue expense s
a) Can be amortised over a period of 10 years
b) Can be amortised over a period not exceeding 5 years
c) Can not be recovered from investors
d) Can be amortised over the life of the scheme

225. Scheme-wise annual report of a mutual fund nee d not be
a) Sent to all unit-holders
b) Forwarded to SEBI
c) Published as an advertisement
d) Stock exchanges

226. Mutual funds have to value their investments
a) At purchase price
b) On a mark-to-market basis
c) At par
d) At book value

227. A closed-end has average weekly net assets of s 200 crore.As per SEBI regulations, the AMC can ch arge the fund with
investment and advisory fees upto:
a) Rs 2.25 crore
b) Rs 2.00 crore
c) Rs 2.50 crore
d) Rs 3.00 crore
Ans: a

228. For a open ended scheme, the repurchase price can not be
a) Lower than 93% of the NA V
b) Lower than 93% of the Sale price
c) Both (a) and (b)
d) None of the above

229. Profit and loss on sale of securities of a mut ual fund has to be calculated on the basis of
a) LIFO Method
b ) Average Cost Method
c) FIFO method
d) Any of the above

230. Which of the following is not true above divid ends of a mutual fund
a) Dividends are taxfree in the hands of investors
b) Debt mutual funds have to pay dividend distribution tax
c) Dividends can be paid out of unrealized profits of the mutual funds
d) Equity mutual funds do not have to pay dividend distribution tax

231. The maximum amount of initial issue expenses t hat can be recovered from the investors is limited to
a) Rs. 10 Crores
b) 2.25%ofNAV
c) 6% of the amount mobilized during NFO
d) Unlimited

232. Mutual funds have to value their investments
a) At purchase price
b) On a mark-to-market basis
c) At par
d) At book value
233. If the average annual assets of a equity mutua l fund scheme are Rs.1,000 Crore, then what will be the maximum
amount of annual recurring expenses chargeable as p er SEBI guidelines:
a) Rs. 6 Cr
b) Rs. 20.50 Cr
c) Rs. 23.25 Cr
d) As per actual
Ans: b

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