Practice Questions for AMFI Test 1. A close-ended mutual fund has a fixed : a. NAV b. fund size c.

rate of return d. number of distributors 2. The maximum load that a fund can charge is determined by the : a. AMC b. SEBI c. AMFI d. distribution agents based on demand for the fund 3. The amount required to buy 100 units of a scheme having an entry load of 1.5% and NAV of Rs.20 is : a. Rs.2000 b. Rs.2015 c. Rs.1985 d. Rs.2030 4. A gilt fund is a special type of fund that invests : a. in very high quality equity only b. in instruments issued by companies with a sound track record c. in short-term securities d. in government securities only 5. Of the following fund types, the highest risk is associated with a. Balanced Funds b. Gilt Funds c. Equity Growth Funds d. Debt Funds 6. The NAV of a mutual fund: a. is always constant b. keeps going up at a steady rate c. fluctuates with market price movements d. cannot go down at all 7. An open-ended mutual fund is one that has: a. an option to invest in any kind of security b. units available for sale and repurchase at all times c. an upper limit on its NAV d. a fixed fund size 8. An investor in a close-ended mutual fund can get his/her money back by selling his/her units: a. back to the fund b. to a special trust at NAV c. d. on a stock exchange where the fund is listed to the agent through which he/she subscribed to the units of the fund

9. The "load" charged to an investor in a mutual fund is a. entry fee b. cost of the paper on which the unit certificates are printed c. the fee the agent charges to the investor d. the expenses incurred by fund managers for marketing a mutual fund scheme 10. A mutual fund is owned by a. the Govt. of India b. SEBI c. all its investors d. AMFI 11. Units from an open-ended mutual fund are bought a. on a stock exchange b. from the fund itself c. from AMFI d. from a stock broker 12. A mutual fund is not a. owned jointly by all investors b. a company that manages investment portfolios of high networth individuals c. a pool of funds used to purchase securities on behalf of investors d. a collective investment vehicle 13. "Load" cannot be recovered a. at the time of the investor's entry into the fund b. as a fixed amount each year c. at the time the investor exits the fund d. from the fund's distribution agent 14. The most important advantage of a money market mutual fund is a. quick capital appreciation b. high regular income c. safety of principal d. no loads 15. Some close-ended funds are quoted at a discount to their NAV because a. of high expense ratios b. investors do not expect the current NAV to be sustained in future

c. d.

the repurchase price fixed by the fund in lower than the NAV of the inherent risk involved in investing in such type of funds

b. c. d.

gilt funds growth funds balanced funds

16. The NAV of each scheme should be updated on AMFI's website a. every quarter b. every month c. every hour d. every day 17. Debt funds target a. low risk and stable income b. protection of principal c. high growth with risk d. long term capital appreciation 18. In which of the following do debt funds not invest a. government debt instruments b. corporate paper c. financial institutions' bonds d. equity of private companies 19. Which of the following risks do not affect a debt fund a. default by issuer on payment of interest or principal b. price fluctuations of the debt securities c. share price movements d. interest volatility 20. Assured return or guaranteed monthly income plans are essentially a. Hybrid funds b. Growth Funds c. Debt/Income funds d. Sector funds 21. A Fixed Term Plan Series is a. an open-ended fund b. a close-ended fund c. a fixed term bank deposit d. a fixed term corporate bond 22. NAVs of equity funds are not affected by a. Stock market movements b. Events affecting the industry/sector in which the fund has invested c. Happenings in the companies in which the fund has invested d. real estate prices 23. The greatest potential for growth in capital is offered by a. debt funds

24. A Systematic Withdrawal Plan, allows investors to get back the principal amounts invested in addition to the income on investment a. True b. False 25. Which of the following is untrue of an automatic reinvestment plan? a. The plan allows for automatic reinvestment of all income and capital gains b. Automatic reinvestment allows for accumulation of additional units of the fund c. The major benefit of automatic reinvestment is compounding d. The benefit of automatic reinvestment is often lost on account of the heavy load charge on the reinvestment 26. Constraints imposed by most funds on check writing are: a. Account balance should not fall below the minimum capital required b. Checks issued must be for at least the minimum amount specified. c. Number of checks per month must not exceed a specified number d. Both a & b above 27. The performance of a fund is largely measured by the success of a. the marketing function b. the operations function c. the portfolio market function d. none of the above 28. Generally invest in a. unlisted b. market-traded c. thinly traded d. privately placed 29. Which of the following is not an equity instrument a. preference shares b. equity warrants c. ordinary debentures d. convertible debentures 30. The drawback of an ordinary share is A. possibility of capital appreciation B. ownership privilege of the company C. guaranteed dividend income

D. no guaranteed income or security 31. An owner of preference shares is given which of the following rights a. voting rights b. fixed dividend income from post-tax profits c. voting rights and unlimited dividend income d. no guaranteed rights 32. Market capitalisation of a company is calculated by multiplying the number of outstanding shares by a. R.10 b. Face value of each share c. Current market value of each share d. dividend yield 33. The Price/Earnings (P/E) Ratio is an important measure of a company's anticipated performance. It is calculated using: a. Market price and dividend b. Market price and earning per share c. Market capitalisation and dividend d. Market price and face value 34. A company whose earnings are strongly related to the state of economy is known as a. Economy stocks b. Cyclical Stocks c. Value Stocks d. Growth stocks 35. A Growth stock refers to shares of a company whose earnings are projected to grow at the normal market rates a. True b. False 36. Which of the following is generally true for a growth stock? a. steady capita appreciation and steady dividends yields b. high capital appreciation and high dividend yields c. high capital appreciation but low dividend yields d. steady capital appreciation but high dividend yields 37. Shares of companies with large capital market capitalisation a. have greater growth potential b. are more liquid c. are not available d. none of the above 38. Dividend yield for a stock is a. dividend per share b. dividend per face value c. dividend per share to current market price d. none of the above 39. Value stocks a. have high current dividend yield b. yield high growth in earnings c. are currently under valued d. none of the above 40. A better performance than the return on index is given by a. passive fund manager b. an active fund manager c. all fund managers d. non fund manager 41. A change in key personnel especially the fund manager of an AMC does not necessitate a revision of the offer document a. True b. False 42. If fresh litigation cases or adjudication proceedings are referred by SEBI against the fund sponsors or a company associated with the sponsors, then the offer document needs to be revised a. True b. False 43. The offer document need not be revised if the management or the controlling interest in the AMC change a. True b. False 44. An AMC cannot explain adverse variations between expense estimates for the scheme on offer and actual expenses for past schemes in a. financial newspapers b. business channels on TV c. the offer document d. AMFI newsletter 45. Information on estimated expenses to be incurred by a scheme is not found in the offer document, but in brochures of the fund a. True b. False 46. When comparing a fund's performance with that of its peer group, the following cannot be compared

100% f. need not be disclosed in the offer document 59. expenses for past schemes in b. The investment objectives of the fund an investor selects for investment e.a. Offer related information required to be listed in . offer document only b. policy of diversification h. information about the guarantor's net worth which justifies the guarantor's ability to meet any shortfalls in the returns assured under the scheme can be found in e. the type of securities in which the scheme will invest principally f. 80% g. change with change in the AMC's key personnel 54. are of no relevance f. The offer document and key information memorandum contain financial information for a. The names and background of key personnel of the AMC e. all schemes of all mutual funds in the capital market b. A government securities fund with a government security 47. are not known before the offer is concluded f. True f. The minimum amount to be raised. An AMC must explain adverse variation between expense estimates for the scheme on offer and actual a. are disclosed in the offer document h. The circumstances for refund of investment in the initial offer and period within which refund must be carried out are not specified in the offer document. but in brochures of the fund a. change with market movements h. then it should invest at least the following percentage of its total assets in the indicated type of security/industry/sector e. none of the above 51. AMFI Newsletter 48. Information on estimated expenses to be incurred by a scheme is not found in the offer document. key information memorandum c. both offer document and key information memorandum d. both (a) and (b) h. The functions and responsibilities of the sponsor. none of the above 57. Two debt funds with 5 year maturities b. financial newspapers c. need not be disclosed to investors f. False 60. none of the schemes d. False 49. name and addresses of the board of trustees h. If a scheme's name implies that it will invest primarily in a particular type of security or in certain industry/sector. A broad-based equity fund with an IT Sector Fund c. True f. trustees and custodian of the mutual fund are listed in a. A bond fund with a bond d. asset allocation pattern g. can be decided based on investor response to the offer g. should be the same as his own investment objectives g. AMC. are defined as per SEBI Regulations before the offer is made h. 65% h. offer document e. the key information memorandum g. business channels on TV d. For assured return schemes. but only on the application e. are of no relevance as they may change g. False 52. Information about trusteeship fees is included in the offer document but not in the key information memorandum e. activities of the sponsor f. True b. summary of trust deed provisions g. The following information about the constitution of the mutual fund is found in both the offer document and key information memorandum e. the offer document f. the specific securities in which the fund will invest 55. and the maximum target amount e. 40% 56. companies in which investment is proposed 50. all of the above 53. all schemes launched by the particular fund during the last 3 fiscal years c. are declared in newspaper advertisements 58. The investment policies listed out in the offer document of a fund do not include e.

freely to meet their requirements f. not true f. In the offer document. The following do not form a part of the investment procedure described in an offer document e. False 63. 40% g. 50% f. need not be consistent h. 3 fiscal years h. neither of the above 61. should be disclosed at the time of initial launch 65. details of who can invest h. 2 fiscal years g. h. True f. being confidential information 70. not favourable to investors at all 66. SEBI regulations g. purpose and circumstances of borrowing f. every quarter g. Mutual funds are allowed to borrow e. include names of centres where redemption can be effected h. A scheme's policy on dividends and distribution e. not all h. regulatory limits on borrowing g. form a section in the key information memorandum h. 25% 10% 67. for investment purposes g. As a part of borrowing policy. True f. should not be disclosed. in the offer document at the time of launch of the scheme h. applied only to some mutual funds. dates of opening. is decided by the fund manager as per is market outlook f. form a section in the offer document f. one fiscal year f. 5 fiscal years 62. not allowed at all 68. describe the tax elements applicable to investors who invest in the fund g. Tax treatment of investments does not e. details of other competing mutual funds 64. can be changed to suit the requirements of the AMC g. A disclosure should be made in the offer document if an AMC has invested more than the following percentage of its net assets in group companies e. offer tax advice to investors . ICAI Guidelines h. American GAAP 73. procedure for transfer and transmission of units g. GAAP f. be described in the offer document f. funds are required to make disclosures summarizing associate transactions and their impact on the performance of the scheme for the last e. False 72. earliest closing. potential risk to AMC and unit-holders h. minimum initial (and subsequent) investment g. at the end of every financial year f. the following need not be disclosed in an offer document e. names of lenders 69. allotment and despatch of certificates f. closing. The accounting policies of a fund should be in accordance with e. in the interest of investor protection g. Valuation norms for non-traded securities should be disclosed e.g. dividend reinvestment plant) f. Procedure for redemption or repurchase need not e. only to meet redemption demands h.the offer document and key information memorandum includes e. The circumstances under which a scheme shall be wound up are to be described in the offer document at the time of the initial launch of the scheme itself e. The fund need not describe its accounting policies in the offer document as these are of no use to an investor e. include how redemption or repurchase price of units would be determined g. SEBI restricts mutual fund investments in companies forming part of the same group as the AMC. indicate the redemption or repurchase price as at the end of the current fiscal year 71. various plans under the scheme (e. This is: e. both the above h.

not defined g. Individuals 86. not charges to either h. The most important link between Mutual Fund and Investors is e. Non Banking Finance Companies 84. SEBI g. 3 fiscal years h. Non Banking Finance Companies d. Banks g. Provident Funds h. Yes g. 100000 g. Offer document h. UTI Mutual Fund g. RBI Guidelines 89. True f. False 85.74. No f. Investors' rights under a scheme are e. Which Mutual Fund has majority of the agents selling its Mutual Fund units in India e. Most eligible investors of Mutual Funds can broadly be grouped into either individual or institutional investors e. False 77. Any pending cases or penalties levied on the sponsors or AMC should be disclosed in the offer document e. Documents available to investors for inspection do not include c. are there in India selling Mutual Funds e. AMFI booklet g. if Ministry of Finance approves if AMFI approves 83. Non Banking Finance Companies h. As per AMFI figures. Who among the following are not eligible to invest in MF e. False 79. False 87. Insurance Companies e. It is compulsory to use fund agents/intermediaries for investing MFs e. True f. available with stock exchanges 76. six months 78. 75000 h. same f. reports based on which actual investments are made 75. The offer document for a scheme should describe how the NAV of the scheme is to be computed e. one fiscal year f. SBI Mutual Fund . Memorandum and Articles of Association of AMC d. Indian Companies f. True f. SEBI Regulations Manual f. Foreign Institutional Investors f. False 81. how many agents approximately. listed in the offer document h. investment management reports f. consent of auditors and legal advisors e. What document Mutual Fund distributors need to refer for finding out eligible category of investors in a particular Mutual Fund Scheme e. NRIs are eligible to invest in Mutual Funds a. True f. Fund distributors h. Resident Individuals g. An offer document contains an AMC's investor grievance's history for the past e. which category of investors need advice for Investing in Mutual Funds c. Are Overseas Corporate Bodies allowed to invest in Mutual Funds e. uniform for all schemes of all funds f. different g. 150000 90. LIC Mutual Fund f. Who among the following are not Institutional Investors e. AMFI 82. Government f. Foreign Citizens 80. 2 fiscal years g. Commission rates or loads applicable to big investors and small investors are e. True b. Banks f. Generally. 50000 f. none of the above 88. h.

a Post Graduate university course 93. Risk Factors d. Closing and earliest Closing Date of the offer e. a scheme-specific risk factor l. common to all schemes k. AMFI Newsletter l. Disclaimer Clause f. legal and regulator compliance h. a test conducted by AMFI d. this information can be found in i. approximately 11 e. 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 i. approximately 25 94. Offer document . True d. applicable only to gilt funds 104. False 95. How many major distributor Companies are there in India selling Mutual Fund units c. the Company Law Board 97. the AMC g. if assurance is only for a limited period. True f. AMC and Custodian responsibilities g. a test conducted by SEBI e. True j. Are Mutual Fund agents/distributors in India required to pass any examination to qualify to sell Mutual Fund Units c. Standard risk factors are not market driven common to all schemes of relevance to novice investors new to a regular investor 91. not applicable to debt funds 105. Past performance of a sponsor/AMC mutual fund is not indicative of the future performance of the scheme. 102. not true j. The front page of an offer document need not cover e. A "glossary" of Defined Terms must be included in the offer document e. i. Mutual Fund agents/distributors are not allowed to sell Financial Products other than Mutual Funds c. False 92. SEBI f. No f. not present j. Risk arising from a scheme's investment objective/strategy and proposed asset allocation is i. j. SEBI does not certify the accuracy or adequacy of the document f. True f. False 103. False 106. In an assured returns scheme. h. This is i. True g. The risk of a scheme's NAV moving up or down on the basis of capital market movements is a standard risk factor i. Yes. False 98. opening. False 96. The offer document is not a legal document e. False 101. approximately 9 d. None of the above 99. disclaimer clause g. approximately 10 f. price of units 100. Though the offer document of a scheme is prepared as per SEBI Regulations and is filed with SEBI.h. SEBI k. Functions and responsibilities of the sponsor. The legal responsibility for the accuracy of the statements made in the offer document lies with e. specific to that scheme l. A copy of all changes in the offer document has to be filed with SEBI c. The following need not be covered in a Key Information Memorandum c. closing and earliest closing date of the offer f. Yes. trustees. Opening. If the AMC is managing a fund for the first time. newspapers j. True d. True j. AMFI h. a standard risk factor for all schemes k.

the entire commission up-front k. False 117. disclosures made in the offer document are true. Trail commission means paying i. j. cannot be appointed by the AMC 108. sell investments 122. Retail distribution channels are a critical element in the distribution of mutual funds in India i. unit holders k. but arise from convention only i. charge a fee from agents h. The following are not termed as "sales practices" i. foreign investors 113. Emerging or new channel for distributors/marketing of Mutual Fund in India is i. through salaries j. AMFI 121. SEBI l. Lowest commissions are paid on i. the compliance officer l. In India the minimum or maximum commissions payable to distributors are not prescribed by law. the managing director of the AMC j.107. k. False 119. belongs to SEBI k. before-and after-sales service to investors k. In developed countries. Investor relations officer 109. desirable marketing practices agents' responsibilities to the investor ethical code of conduct all of the above 115. Insurance Companies j. Excess distribution expenses are to be borne by the i. Agents are compensated by mutual funds i. retail investors h. an important Mutual Fund marketing channel is through i. AMC j. all investors j. debt funds l. Banks k. High Networth individuals/institutional investors i. but are decided using the fund's own discretion i. To cover fund distribution expenses. create a reserve j. the entire commission after five years . True j. part of the commission up-front and the balance in phases l. agents commission j. charge entry and exit loads from investors i. all legal requirements connected with launching of the scheme have been complied with i. Qualified Mutual Fund agents l. A compliance officer i. the draft offer document forwarded to SEBI is in accordance with SEBI regulations h. True j. through an annual fee l. True j. Equity funds j. tax benefit schemes of mutual funds k. stands guarantee to the information contained in the offer document j. Non-Banking Finance Companies l. False 114. advertising of schemes l. Retail Distributors 111. fair and adequate j. Direct Sales agents of respective mutual funds 112. cannot certify that the AMC's legal and procedural obligations are fulfilled l. The due diligence certificate that must be submitted to SEBI along with the draft offer document cannot be signed by i. Banks k. "Sales Practices" cover the following areas i. through commissions k. an executive director of the AMC k. not in cash but in kind 118. Mutual Funds often use their own employees to mobilise funds from g. stock broking 116. open ended funds g. l. Insurance Companies j. no commission at all j. the AMC guarantees a good performance 110. Sales practices are never mandated by regulators. A due diligence certificate does not certify that g. long-term investments in mutual funds 120.

be fully aware of the important characteristics of the scheme h. For investors to correctly compare performance of different funds SEBI's advertising codes include i. True j. the BSE Sensex j. AMFI rules j. False 131. not uniform to all funds j. each investment decision should be approved by investors 137. The terms of appointment of a broker by a fund are g. Sub-brokers serve as agents of the principal broker and a mutual fund is not answerable for their activities i. none of the above 135. False 133. l. established distribution companies . offer document k. Funds should be managed in accordance with stated investment objectives i. k. An agent's appointment by a fund i. any price he chooses a price determined by competition among agents a price based on demand for that fund's units the public offering price currently in effect 132. does not require any approval 130. The AMFI code of ethics does not cover the following prescriptions g. True d. NAV h. offers or sells units. is a lengthy and cumbersome process k. True j. is mandatorily preceded by an AMFI test l. In India. uniform computation of yields j. the agent k. The code of ethics for mutual funds published by AMFI g. False 124. Individual Agents j. identical time periods l. stock exchange bye-laws i. the NSE Fifty Index i. is mandatory h. When an agent purchases. SEBI's advertising code mandate that all performance calculations in a fund's advertisement should be based g. an agent need not g. Distribution and sales practices are only partly regulated by SEBI at present i.123. An investor does not have recourse to his agent in case of errors. none of the above 126. ensuring compliance with applicable regulations is the responsibility of i. j. all of the above 128. the fund j. Small Distribution companies k. is unfavourable to investors j. key information memorandum l. An agent can offer and sell a funds's units at i. requires SEBI's approval j. True j. Along with the application. uniform presentations of dividends k. does not cover distribution and selling practices 136. AMFI l. none of the above 129. Which of the following distribution channels is preferred by private mutual funds i. SEBI 134. investment rebate j. Adequate disclosures should be made to the investors h. problems or the quality of the investment c. Mutual fund agents' rate and services are at present defined by g. is in the form of recommended practices i. laid down by AMFI i. To sell funds effectively. convention 125. False 138. know his/her client's risk profile i. give after sales service j. conflict of interest should be avoided in dealings with directors or employees j. All buy orders through an agent do not become valid till the fund accepts and confirms the orders i. laid down by SEBI h. it is mandatory to distribute i. SEBI rules h. offer large investment rebates 127.

Audit fees l. There is a lock-in period before investment can be withdrawn o. valuation of all investment securities held g. today 148. none of the above 144. The day on which NAV is calculated by a fund is known as g. Which of the following sales practices is prescribed by regulation i. 93% of NAV j. Net Asset Value (NAV) of a mutual fund scheme is defined as the schemes g. 1. annually k. valuation date i. For a open-ended fund. Investments made by a mutual fund on behalf of investors are accounted as e. None of the above 140. 97% of NAV 150. 10% of amount raised m. AMFI's Code for Agents l. 93% of NAV l. NAV h. assets f. when actually paid . liabilities g. it will include all the transaction concluded up to h. the AMC can change an investment management fee not exceeding g. AMFI Code of Ethics j. These funds cannot invest in equity 154. 0. last week i. Which of the following expenses cannot be charged to the scheme k. Initial expenses of launching schemes should not exceed k. Investors can claim an income tax rebate n. assets minus liabilities h. A funds NAV is affected by e.25% j. 6% of amount raised n. liabilities j. record date j.50% 151. quarterly j.00% i. 95% of NAV i. not allowed as per regulations 143. penalties and fines for infraction of laws 153. none of the above 141. assets per unit i. on a day to day basis l. in the form of long-term loans h. For a scheme that has a load. previous day k. 1. capital h. costs related to investor communication m. none of the above 142. 97% of NAV 149. If a fund calculates NAV daily. SEBI Advertising k. unit capital l. assets minus liabilities per unit j. 5% of the amount raised 152. book closure date 145. NAV j. For a close-ended fund. the repurchase price should not be lower than i. all of the above 146. 2. computation date h. When computing NAV of fund SEBI requires accrual of major expenses to be accounted i.l. combination of long term and short term j. units sold or redeemed h. the Internet 147. last two days j. 15% of amount received l. 95% of NAV k. Which of the following are not true for Equity Linked Savings Schemes? m.the repurchase price should not be lower than g. strictly short term in nature i.50% h. Which of the following is not true for Index Funds m. There are not specific restrictions on investment objectives for the fund managers p. deposits k. These funds invests in the shares that constitute a specific index 139. Purchase and sale of investment securities f. winding costs for terminating the scheme n. Liabilities in the balance sheet of a mutual fund are g. In a mutual fund investors' subscriptions are accounted for as i.

Association of Mutual Funds of India (AMFI) 156. the trustees p.100 Crores n. preparing transfer documents p. the bankers 166. The fund sponsors should have a sound financial track record of k. a director in a Company n. R.n. nothing to the AMC l. The structure which is required to be followed by mutual funds in India is laid down by k. need not be an entity independent of the sponsors m. the total networth of the AMC m. The sponsor of that mutual fund 159. p. The sponsor of a mutual fund may be compared to m. cannot invest the funds in government paper o. does not give or receive deliveries of physical securities 160. SEBI p. The Board of Trustees of a mutual fund: m. Agents and distributors n. 10 Crores at all times p. can distribute several mutual funds simultaneously n. The fund sponsor has to contribute k. promoters . directly manage the portfolio of securities o. cannot supervise and direct the working of the AMC 157. The Finance Ministry n. atleast 40% of the AMC's networth n. exactly 50% 164. 5 years n. Financial Ministry l. These funds take only the overall market risk p. Trustees n. The investment in shares is in the same proportion as in the index o. is appointed for safekeeping of securities l. investing the funds in securities markets 161. The AMC and directors are answerable to k. do not have the right to dismiss the AMC p. the transfer agent o. not required to be registered with SEBI n. undertake advisory services or financial consulting n. The AMC of a mutual fund cannot m. Promoter of a Company p. updating investor records o. The networth of an asset management company should be greater than m. cannot invest the funds in securities 158. These funds are not diversified 155. the Chief Executive of a Company o. Stock Exchanges l. AMC 163. can be decided by the Sponsor o. 12 months m. should be greater than Rs. The trust that manages a mutual fund is appointed by m.I o. act as a trustee of more than one mutual fund p. The custodian of a mutual fund: k. 3 years 167. Issuing and redeeming units of a mutual fund is the role m. The Board of Trustees m. an equity shareholder in a Company 165. o. cannot appoint sub-agents or sub-brokers should be only individuals not companies or banks should not be an employee or associate of the AMC 162.B. issuing and redeeming units of the mutual fund n. A transfer in the management of a close-ended scheme does not require the consent of k. Fund Sponsor n. Securities & Exchange Board of India (SEBI) m. Stock Brokers 169. unit holders with 75% voting rights l. the custodian n. The role of an AMC is to act as 1. SEBI m. Distributors or agents m. should be atleast Rs. Rs. Transfer Agents of a mutual fund are not responsible for m. 7 years l.10 Crores 168. act as a protector of investors' interests n.

The "Capital" of a scheme does not include m. none of the above 172. RBI n. UTI Cannot provide k. both SEBI and unit holders n. A Self Regulatory Organisation can regulate k. The accounts and all other records of an AMC are filed with k. none of the above 180. Fund Manager p. Trustees of the fund o. UTI h. Agents' Association n. non-banking finance companies 176. 50% of trustees o. The Bombay Stock Exchange (BSE) 182. unit capital n. Exchange Rules of the stock exchange where it is listed n. 75% of unit holders p. Insurance Companies 181. After UTI. The entity that SEBI does not regulate is m. provide merchant banking services n. it must obtain the consent of m. 4. SEBI l. Registrar of Companies m. The largest corpus of investable funds in India is with e. IDBI p. Private Sector mutual funds m. Company Law Board m. For a close-ended scheme to change its fundamental attributes. financial institutions n.2. Private Sector mutual funds g. SEBI m. non-banking finance companies 174. A change in the following key people does not materially impact the performance of the fund m. The highest authority among the following is the k. Members of the AMFI Committee 171. Fund sponsors n. True n. guidelines issued by the Ministry of Commerce Companies Act provisions relating to transactions in securities 170. AMFI l. Unit Trust of India n. private sector banks l. invest in securities 183. The Board of Trustees of the UTI does not have nominees from m. LIC o. share registrars n. all entities in the market l. stock exchanges p. Bombay Stock Exchange l. A close-ended scheme of a mutual fund is not governed by m. Ministry of Finance 175. RBI n. Bank-owned mutual funds f. The entry of mutual funds in India was initiated by mutual funds set up by k. the first mutual funds were started by k. mutual funds set up by insurance companies 179. To transfer the management of a scheme from one AMC to another. Which of the following are Self Regulatory Organisations k. engage in real estate and property development business m. reserves o. public sector banks m. the consent of the following is required k. networth of the AMC 184. Public Sector Banks l. UTI 177. Unit holders m. only its own members in a limited way . AMFI n. RBI 185. the AMC and the Board of Trustees of a fund should belong to the same sponsors m. Listing Agreement between the fund and the stock exchange 178. p. borrowing p. 3. 50% of unit holders n. SEBI l. investment managers distribution agents regulators o. mutual funds o. corporate finance l. As per SEBI's principles. False 173.

RBI 194. Quarterly Reports o. AMFI 199. taking decisions about where the fund managers should invest 196. Bank owned Mutual Funds are supervised by k. SEBI m. 42 days p. six weeks 191. Unitholders investments' cannot be protected by the Department of Company Affairs and the Company Law Board k. marketing brochures 189. Shortfalls in the case of assured returns schemes are met k. jointly by SEBI & RBI n. RBI 198. no entity at all 186. only if the offer document specifically provided such a guarantee by a named sponsor m. approving investment decisions of the fund 192. unit-holders are entitled to receive dividend within m. Unit holders' right to information does not include i. RBI m. UTIs scheme US-64 falls under the purview of SEBI m. True n. the Offer Document of that scheme n. company law board 4. Investor does not have the right to receive any interest from an AMC if his redemption proceeds are not despatched within 10 working days m. dividend declared for other schemes of the mutual funds p. regulate mutual funds in n. If an investor failed to claim his redemption proceeds within 3 years. If the Directors of an AMC commit fraud. A special act o. Unit-holders aggrieved by a Fund or AMC can get redressed from k. Par l. crease public awareness of mutual funds in the country 188. income declared under that scheme 190.m. one week n. True n. receiving of a copy of the annual financial statements of that fund l. AMFI 193. RBI 187. The responsibilities of a unit-holder do not include: i. AMFI n. False 197. the apex regulatory authority 3. The role of AMFI in the mutual funds industry is not to k. being aware of information that affects his investment in a major way k. True l. The amount of authority enjoyed by a 1. The rights of investors in a mutual fund scheme are laid down in m. obtaining from the trustees any information having an adverse effect on their investments j. UTI was set up by l. the Government of India n. Prevailing NAV . Consumer Courts l. Annual Reports p. Monitor his investments carefully j. SEBI m. SEBI l. After dividend declaration. False 195. False 200. its own members with total jurisdiction n. its own members 5. self-regulatory organisation is defined by 2. one month o. Unit holders of a mutual fund scheme do not have a right to m. set a Code of Ethics m. promote the interests of the unit holders l. dividend declared for that scheme o. inspecting major documents of a fund k. AMFI n. by sponsors of such schemes l. he can claim the proceeds at k. proportionate ownership of the scheme's assets n. carefully studying the offer document l.

are contained in the offer document q. AMFI r. is not the operating document describing the scheme t. An addendum giving details of material change in the offer document should be circulated o.m. inviting the the investors t. once in two years s. The offer document for a scheme remains valid even if q. every quarter t. a sheet containing historical NAVs of other fund schemes r. it is registered with SEBI q. every six months r. 15% below the prevailing NAV 201. SEBI r. 50% of the trustees q. distributors/brokers p. do not include the objective of the scheme r. False 215. 50% of the unit holders p. 180 days 202. the on the date he has applied for redemption n. the scheme's NAV changes t. by regulation. the AMC is reconstituted r. The prospectus or Offer Document containing the details of new scheme is first registered with the q. giving detailed information about the scheme s. 30 days q. The offer document issued by mutual funds does not serve the purpose of q. SEBI does not require the following to be included in the offer document issued by a mutual fund q. until amended . every month 212. can be changed without the investor's approval or knowledge s. The offer document q. Fundamental attributes of scheme q. The prospectus of a close-ended fund is issued o. One week p. For scheme to be able to change its fundamental attributes. Performance of other mutual funds 209. unit holders q. Annual Report of the AMC 210. 45 days r. every quarter r. every year p. are not necessary for deciding whether to invest in the scheme or not 207. Ministry of Finance 204. include the terms of the scheme t. giving the fund manager's investment outlook for the next quarter 205. on going sales and repurchases must start within o. the Memorandum & Articles of Association of the AMC q. 75% of the unit holders r. details of the Sponsor and the AMC r. All important disclosures that the mutual fund is required to make. it need not be revised at all 214. The offer document has to be fully revised and updated q. entry or exit load are changed s. SEBI s. every six months 206. it has to be revised periodically r. The offer document issued when an open-ended scheme is launched is valid for all times. contains the terms of issue r. new plans are added to existing schemes 211. gives no information relevant for making an investment decision s. an abridged version of the offer document p. only once at the time of issue q. True r. Description of the Scheme & investment objective/strategy s. 'Key Information Memorandum' is o. After closure of the initial offer an open ended scheme. cannot be called a reference document 208. Bombay Stock Exchange t. all of the above 213. none of the above 203. Which of the following is not true for offer documents of open-ended schemes o. it must obtain the consent of o. Investors' Rights and Services t. it is first issued at the time the scheme is launched p. announcing the scheme r.

the company's regulatory environment 232. AMFI Newsletter 217 The offer document need not be studied by an investor before investing in a scheme q. True p. the most important is q. does not have to go through the process of stock selection t. True n. the fund manager's judgement t. at book value 222 Investors are totally exempt from paying any tax on the dividend income they receive from mutual funds o. True p. undervalued stocks s. none of the above 227 A growth manager looks for q. Rs 2. researches stocks extensively r. the AMC can charge the fund with investment and advisory fees upto: o. True r. has to keep fund expenses low p. does not have to track stocks 226 A fund manager managing an index fund o. Quantitative analysis is more likely to be done to evaluate a particular sector or industry rather than any specific stock o. False 218 The offer document is not a legal document o. Which of the following is not considered for technical analysis q. at par r. Annual Report of the AMC q. does not have to research stocks q. True p. Economic Times r. performance of the fund s.50 crore r.25 crore p. current market sentiment t. on a mark-to-market basis q. none of the above 230 Fundamental analysis involves i. offer document p. none of the above 228 A value manager does not look for o. none of the above 231. research into the operations and finances of the company k.q. high current income r. False 216 The most important source of information for a prospective investor is o. the company shares' trading volume s. False 224 A close-ended has average weekly net assets of Rs 200 crore.00 crore 225 A passive fund manager q. above average earnings growth t. checking the foundations of the company's factory building j. forwarded to SEBI s. False 223 Income distributed to unit-holders by a debt fund is liable to dividend distribution tax o. True r. False 220 Scheme-wise annual report of a mutual fund need not be q. historical data on the company's share price r. long term capital appreciation 229 From an investor's viewpoint. Rs 2. stocks that are currently undervalued in the market p.00 crore q. False 219 Initial issue expenses are charged to a scheme in the first year itself m. does not have to balance his portfolio r. Rs 2. does not buy and sell stocks often s. sent to all unit-holders r. a fund's investment style r. stocks whose worth will be recognised by the market in the long term q. stock exchanges 221 Mutual funds value their investments o. False . published as an advertisement t.As per SEBI regulations. studying the company's share prices l. True p. Rs 3. at purchase price p. high current yield r.

whether to buy a given share or not s. a fixed rate plus a variable portion o. fund managers s. shares p. The Indian debt market is largely wholesale in nature o. using equity derivatives n. the largest proportion of trading is seen in 1. zero coupon basis 246. In the wholesale debt market. decide which shares to buy or sell r. As per SEBI's requirements each scheme of a mutual fund should have a different fund manager o. none of the above 235. True p. True p. paying interest at a floating rate p. giving TV interviews to improve sentiment 237. interest bearing n. focusing on growth sectors q. PSU Bonds 248. Technical analysis guides the decision on o. A futures contract allows one to buy or sell the underlying shares. True r. T-Bills 4. o. Government Securities 2. Regional Rural Banks p. False 240. fund managers can reduce the loss in portfolio value by k. none of the above 243. contracts r. Derivatives cannot be based on market indices q. whether company's technical personnel are adequately qualified r. but need not result in delivery q. whether the company's factory can withstand earthquakes 234. a large part of debt securities pay interest on m. False 244. Corporate Bonds 3. the overall decisions on allocating money to particular industries/sectors are taken by q. True r. n. trustees 241. Continuous tracking of the companies in which a mutual fund has invested is done by m. False 247. financial institutions 249. When expecting a fall in market price. notes 238. capitalisation r. continuous tracking systems equity analysts trustees security dealers 242. Scheduled commercial banks r. Corporates q. bonds q. none of the above 250. mutual funds p. Which of the following is not an investment philosophy o. security dealers t. whether to use technical analysis or quantitative analysis t. a floating rate basis n. capitalising on economic cycles p. speculating l. foreign banks q. p. whether to buy or sell p. Debt securities bought at a discount to their face value are generally m. the right time to buy or sell q. Fundamental analysis forms the basis to decide q. Certificates of Deposits (CDs) are issued by o. when to buy a given share r. a fixed rate p. False 239. guard the cabin of the fund manager p. equity analysts r. Equity derivative instruments are o. In a mutual fund. Security dealers of a mutual fund o. finding value stocks 236. zero coupon bonds o. execute buy and sell orders for the fund q. not buying and selling shares at all for some days m. Commercial Paper is issued by Corporate bodies .233. The largest proportion of trades done in the wholesale debt market is accounted by o. In India. none of the above 245. Indian banks r.

Government securities are issued through the RBI s. redemption value 255. investor to put away the certificates in safe deposit vaults 2. face value w. floating rate method 253. reinvestment risk t. bond prices 1. The Economic Times t. par value v. Curve that yields v. none of the above 264. the Sensex u. A bond's rating indicates its s. none of the above 256. Which of the following do not apply to the term 'maturity' of a debt security? u. auction u. the return on investor would earn u. fall 3. inflation risk u. the State Governments v. To compare bonds with different coupon rates. Corporate debentures w. its face value w. investors to extend the tenure of debt 260. the Chief Minister's Speech 265. certificates of deposit issued by banks 254. Call or put provisions are used to modify the fixed maturity of debt securities u. its current market price v. w. call out the names of the investors redeem the debt on maturity extend the tenure of the debt redeem the debt before maturity 259. call risk 266. fundamental analysis 262. False 258. to pay dividend 251. its fair value x. Current yield relates interest on a security to u. the Government of India t. default risk . the date of redemption x. Yield curve is also known as s. Curve of Interest t. are not affected 4. Which of the following do not represent the amount an investor of a debt security will be paid upon maturity u. issuers to redeem debt prior to maturity 4. It may not be possible to reinvest interest received at the same rate as principal. A put provision in a debt issue allows 1. to retire long term debt r. investors to redeem debt prior to maturity 3. fair value x. fluctuate either up or down 263. reinvestment risk t. also rise 2. the Yield Curve v. bonds issued by financial institutions x. interest-rate risk v. False 252. technical analysis w. Term Structure of Interest Rates u.to meet short-term working capital requirements p. v. the date on which the issuer has to repay the amount 257. The yield on Treasury Bill (T-Bill) us determined by s. True v. This is known as s. investors would use: u. u. True t. An important indicator of expected trends in interest rates is s. Coupon of a debt security refers to s. long-dated Government Securities v. Which of the following are not normally found in the portfolio of a debt fund u. maturities and prices. the amount rate of interest paid on par value of the bond v. the current price of T-Bills 261. yield to maturity x. the term of the bond w. a piece of paper attached to the certificate t. When interest rates rise. A call provision in a debt issue allows the issuer to o. to finance the acquisition of long term capital assets q. current yield v. the date on which the certificates becomes old v. x.

Mutual funds are allowed to lend u. longer than its maturity t. 100% of NAV 278. the investors 276. 50% of NAV x. tracking the securities that each fund has invested in v. True v. equal to its maturity v. having many schemes. less than its maturity u. below par s. the yield spread is u. True r. securities w. loans v. In case of listed securities of group companies of the sponsor.u. True t. v. Investment policies of a mutual fund are determined by u. the marketing department based on what distributors want x. low risk premium 270. high yield spread p. 10% of NAV w. True n. 12% v. A bond with a coupon of 9% when interest rates for similar maturities are 11% will sell q. mutual fund is not allowed to invest q. A mutual fund may invest in short-term deposits of scheduled commercial banks m. high default risk u. ensuring that the funds are invested in approved securities only 277. at all t. above par r. yield extra t. it means that investment in this bond has s. 25% of NAV v. al securities bought can be held in a general account and transferred later to various schemes to attain certain profit or loss objectives u. False 280. False 275. 10% of its net assets s. inflation risk interest-rate risk 267. low liquidity risk v. False 279. Inflation and interest rates are inversely proportional s. True t. If a bond cannot be sold at a price near its value. >5% of net assets . 25% of its net assets r. In a mutual fund. 22% w. in the equity shares of any one company are restricted to u. physical assets x. at par t. 10% x. mandating minimum levels of diversification for mutual funds t. Which of the following measures are not taken by SEBI for protecting investors of mutual funds s. at a price unrelated to the prevailing interest rate 273. yield plus r. The "duration" of an interest-bearing bond is s. low yield spread r. As per SEBI norms. high liquidity risk t. high perceived safety q. the AMC management w. Changes in foreign exchange rates have no bearing on interest rates q. inflation risk 268. a fund's investments. yield premium 269. the quality of paper used for the certificate 272. The additional yield required to account for the risk of default by the borrower is known as q. the fund manager v. False 281. none of the above 282. yield spread s. If 10-year government securities Neil 10% and a 10-Year fixed deposit in a company yields 12%. ensuring that the funds are not used to favour a few companies u. A high credit rating does not mean o. A mutual fund manager is not allowed to sell short when he expects a crash in the market s. False 274. 2% 271.

The expense ratio used for measuring fund performance is an indicator of q. none r. NAV Change t. financial market conditions v. total income and total assets t. The Expense Ratio as a measure of a fund's performance is defined by a fund's q. Bond fund 297.6% u. Total Return u. technicians t. income funds w. economists & econometricians v. 34.22 after 13 months. the fund's efficiency 294. portfolio composition s. True r. 40. True p. The difference between NAV change and total return as measures of fund performance is q. False 296. none of the above . none of the above 293. 37.0% t. average expenses and average net assets t. growth funds v. growth in the economy s. total return takes dividend into account while NAV change does not s. If the NAV of an open-ended fund was Rs. The Expense Ratio is not of utmost importance in case of q. below par u.283. The Expense Ratio is not affected by p. The Income Ratio as a measure of a fund's performance is defined by the fund's s. total income and net assets v. 6. at current market rates w. Debt fund r. Interest Rate Risk for an Indian debt fund can be reduced by using s. none of the above 295. total expenses and total assets s. investment objective of the fund u. brokerage commissions on the fund's transactions are not included in the fund expenses q. The most suitable measure for a fund's performance does not depend on the s. none of the above 285. amount invested by investor 289. AMCs need not maintain records in support of each investment decision o. above par t. at a price unrelated to the interest rates for similar securities 288. Options u. funds with withdrawal plans x.5% 290. statisticians u. total expenses and average net assets r. net investment income and net assets u. When interest rates for similar maturities' bonds are 11%. the annualised change in NAV is s. accountants 286. A mutual fund may transfer investments from one scheme to another u. product market condition r. fund size q. Index fund s. prevalent market practices t. at cost price x. not at all v.6% v. Total Return with reinvestment v. total return does not take NAVs into account t.16 at the beginning of the year and Rs. average account size r. The Interest Rate Forecasting Unit of a debt fund is generally manned by s. Interest Rate Swaps v. stock market conditions 298. Futures t. bond with a 9% coupon rate will sell s. The most suitable measure of fund performance for all fund types is s. False 287. Change in NAV as a measure of fund performance is more suitable for u. at par v. While computing the Expense Ratio for a fund. Equity fund t. total return does not take the time period into account 292. at a fixed premium over market rate 284. none of the above 291. type of fund t.

mutual funds can borrow for short term to the extent of w. BSE Sensex z. AMFI 310. a suitable benchmark would be s. As per SEBI. underperform when compared with the benchmark 311. True z. the following need not be similar w. none of the above 301. high transaction costs v. all expenes charged to the fund aa. Which of the following transaction costs are not quantified in the offer document w. Which of the following is of no relevance in evaluating a fund's performance y. registrar's fees 306. value funds 303. Regular Income Funds v. When comparing performance of two funds. I-Sec's I-BEX u. high returns to the investor x. a rising market 302. The performance of other mutual funds aa. growth funds y. The change in wholesale price index 309. A high turnover rate for a fund indicates u. The Income Ratio is more suitable for evaluating the performance of s. Equity Funds t. all expenses related to trading z. earn the same returns as the benchmark aa. brokerage commissions x. custodians fees bb. greater efficiency w. Index Funds 300. Which of the following is false? w. have no benchmarks bb. S&P CNX Defty 313. The performance of the stock market as a whole z. Growth Funds u. equity funds x. agent commissions 305. size of the fund's portfolio t. distribution expenses bb. none of the above 304. Risk profiles x. Turnover rates would be most relevant to analyse the performance of w. dealer spreads y. the preferred benchmark would be the y. total net assets x.299. Which of the following are not included in Transaction costs? y. the investment objective of the fund u. S&P CNX Sectoral Indices 312. ROI is a measure similar to Total Return with Reinvestment of distribution x. debt funds z. custodian's fees z. Total Return with Reinvestment of distributions assumes reinvestment at NAV on the distribution date . interest on bank fixed deposits of similar maturity v. amount of buying and selling done by the fund u. stamp duty on transfers aa. SEBI v. 50% of net assets 25% of net assets 20% of net assets 308. Fund managers 314. For evaluating funds. An actively managed equity fund expects to y. BSE Sensex t. The size of a fund has no bearing on its performance y. Fund size z. The choice of an appropriate benchmark for evaluating a fund's performance depends on s. Portfolio turnover rate of a fund measure the s. The returns given by other comparable financial products bb. Transaction costs include y. To evaluate a close-ended debt-fund. S&P CNX Nifty aa. Investment objectives y. z. False 307. brokerage commissions z. the average number of units sold by the fund in one day v. the fund manager t. BSE 200 bb. be able to beat the benchmarks z. y.

the current market situation 2. The basis of genuine investment advice should be 1. all responsibility ends with the financial planner and the client has no responsibilities y. defining a client's profile and goals t. none of the above 329 In the growth option offered by mutual funds. an objective advisor 323. allocating funds to individual securities y. Financial Planning comprises s. he/she should hold on to it no matter what happens 315. once an investor buys into a fund. allocating funds to asset classes (e. the financial planner v. Which of the following works with an investor on his overall financial situation s. False 325.e. monitoring financial planning recommendations v. decreasing the standard of living v. True v. winning a sports gold medal y. disciplined monthly budgeting x. False 321. False 326 Financial planning is primarily tax planning w. recommending appropriate asset allocation u. Financial Planner u. True v. True z. which individual security to invest in should be decided by u. planning to complete the agent's annual targets 316. False 328 The constraint on financial planning due to insufficient investable resources can be remedied to some extent by u. none of the above 318. to invest in foreign countries z. False 319. simple Total Return is preferred in practice to Total Return with Reinvestment of distribution z. Financial planning allows a person w. z. all of the above 324. False 327 In financial planning. Financial planning does work for older clients y. to achieve financial goals through proper management of finances y. none of the above 322. the number of units held by an investor increases because of w.) x. Financial planning is relevant only for high networth individuals u. Financial plans do not alter in any way the amount of tax an investor pays as the tax is on his income u. growth in net asset value i. the investor himself w. to become a billionaire x. True x. Tax Advisor t. Financial planners and their clients should focus on w. Insurance Agent v. reinvestment of dividend which is like compounding y. disciplining children w. financial planning to suit the investor's situation 4. Within an asset class. buying a home x. tracking stocks which they feel have potential . capital appreciation x. interest received on the fund's assets z. none of the above 330 To maximise returns on investment.y. equity etc. True z. planning for retirement z. True z. Financial goals do not include w. the agent commissions paid by different funds 3. A financial planner takes responsibility for the financial well-being of his/her clients y. Financial Advisor 320. a professional fund manager x. debt. saving for child's education 317. Total Return with Reinvestment of distribution seeks to overcome the shortcomings of simple Total Return Because of its simplicity. As a measure of performance.g.

The strategy advisable for an investor to maximise investment return in the long run is w. The rate of interest paid by a company on debentures issued by it depends on u. Fixed Rates of Asset Allocation v. liquidate poorly performing investments from time to time y. Value gets eroded due to inflation 341. very high liquidity . money market instruments 337. Which of the following entities can given loans against securities w. p. high liquidity 343. Which of the following is not an advantage of bank deposits? u. buy and hold on to investments for a long time x. the average cost of his purchases will always be less than if he makes investment at irregular periods y. liquidate good performing investments fro time to time z. none of the above 338. Listing of shares at a stock exchange ensures w. High purchase price aa. It does not tell you when to buy. guaranteed returns x. Mutual funds z. Pubic provident fund (PPF) y. Units of a mutual fund 339. Low entry price x. A Flexible Ratio of Asset Allocation means y. SEBI guidelines w. False 332. Investment is for the same amount at regular intervals x. Which of the following lets an investor book profits in a rising market and increase holdings in a falling market u. long term capital appreciation y. the stock market situation v. unfavourable effect of tax x. UTI x. Flexible Ratio of Asset Allocation w. Depreciation in value as time passes bb. Investment without any asset allocation plan x. High appreciation in value y. the amount of money being raised 344. High perceived safety w. A criticism of rupee-cost averaging is w. not doing any re-balancing and letting the profits run aa. High yield after tax 342. The biggest advantage of investment in gold is w. High returns x. The biggest disadvantage of investment in real estate is y. True False 331 If an investor keeps investing a fixed amount at regular intervals. switch from poor performers to good performers 335. capital market instruments r. the average purchase price will work out higher than if one tries to guess the market highs and lows y. individual investors do not have direct access to q. Less potential for capital appreciation z. Which of the following investment products do not give guarantee for return or capital w. Liquidity v. A higher rate of interest v. none of the above 334. Banks y. National Savings Certificates (NSC) z. sell or switch from one scheme to another z. Which of the following is not a characteristic of company fixed deposits u. continuously changing the ratio of various assets in the portfolio z. Buy and Hold Strategy 333. low risk z. Low Purchase price z. In India. the company's credit rating x. active switching bb. Bank deposits x. True z.o. Hedge against inflation 340. higher risk w. bullion t. real estate s. Over a period of time. Rupee cost averaging has no serious shortcomings 336.

Investing through mutual fund is a better option than investing directly in the stock market because identifying stocks is a difficult process agents get commissions on mutual fund investment returned are guaranteed by mutual funds all of the above 358. 9% 351. Finance Acts of 2000 and 2001 have reduced tax-free interest on Public Provident Fund to t. The interest is tax-free t. 6 years aa. none of the above 355. Which of the following is not an advantage of mutual fund investment over direct investment cc. 9. taxed in the hands of the investors cc. none of the above 359. Indira Vikas Patra is an investment product popular with u. 10. Higher liquidity dd. risk taking investors 347. 6 years cc. investing in a mutual fund cc. premium bb.5% after tax 354. 5 years bb. rural investors v. Greater convenience ff. 11% 348 Most individuals invest in life insurance policies for w. risk protection x. investors in high tax bracket w. between 100 and Rs. are subject to capital gains tax dd. borrowing enough money to buy shares of well-managed companies dd.5% v. Lower transaction costs ee. the amount required for investment is very large ee. The amount an insurance company would pay to the nominee if a policyholder died is known as the aa. individual investors re not allowed to invest in Government Securities dd. between Rs. 10.6000 y. Individual investors do not normally invest in Government Securities because cc. 7 years z. Dividends distributed by mutual funds are aa.1000 z. 10% z. 12% u. The maturity period of RBI Relief Bonds is aa. none of the above 350. face value dd. Annual contribution to Public Provident Fund should be w. 7 years dd. 8 years 353. 8. real value 356. 3 years 352.345. safety of principal is not guaranteed ff.600 and Rs. 11% y. 9. are tax-free in the hands of the investor 357. The tenure of an Indira Vikas Patra is y. easy liquidity z.5% x. 8.10000 x.5% dd. Which of the following is untrue for Public Provident Fund Schemes s. high returns 349. Post-tax returns are attractive u. There is no contractual guarantee for repayment of principal or interest to an investor in w. The annual yield on RBI Relief Bonds is cc. urban investors x.5% before tax ee. none of the above 346. Liquidity is rather low v. buying one share each of all listed companies bb. A small investor can build a diversified portfolio by aa. The current yield on Indira Vikas Patra works out to w. tax benefits y. debt fund . Rs. guaranteed returns 360. bank deposit x. 5 years bb.5% before tax ff. sum assured cc. 9% w. taxed at source bb.

low risk category 374. cost averaging. secured debentures all of the above 361. of the above depending on the market 373. International funds invest in various and so are low risk funds w. has identified a bullish phase in the stock market z. a fund with stable positive earnings w. wants to invest for the long term 364. bb. Debt Fund 362. False 372. value averaging. active switching. high risk category z. moderate risk funds cc. growth funds are considered as high risk funds aa. True x. True bb. Company Deposit ff. the stock market movements dd. is less risky y. gives higher returns x. Investment in gold is a hedge against inflation but investment in a precious metal fund falls in the high risk category w. False 371. the number of investors in a fund z. By their very nature. Short Term bond funds are aa. determined by the commodity price movements aa. Greater returns come only from assuring higher risks. Deciding on strategies such as long-term compounding. fund manager's success at market timing dd. his age bb. amount of money to be invested cc. False 367. managing the risks of investing cc. phase through which the economy is passing 365. studying financial management bb. False 370. low risk fund moderate risk fund high risk fund low-to-moderate risk fund 369. Gold and real estate are attractive investment options only in high inflation economies cc. True dd. Volatility of an equity fund portfolio is independent of the aa. all depend on the aa. True x. Corporate Bonds dd. False 363. kind of stocks in the portfolio bb. "Risk" is equated with w. the number of schemes of a fund family 376. investor's risk tolerance dd. low risk funds bb. z. knowledge and resources for research y. gives lower returns z. financing the client's investments dd. Financial Planning involves aa. high risk dd. The risk level of commodity funds is y. is more risky 375. his income cc. stock market situation on date bb. and a higher risk portfolio guarantees higher returns w. cannot be specified bb. Which of the following debt investments is not rated cc. number of investors in the scheme 377. volatility of earnings x. level of earnings y. Direct investment in stock market can be a better option than investing through mutual funds if the investor w. his job security 368.y. has large capital. Commercial Paper ee. A sector fund is a aa. degree of diversification of the portfolio cc. dd. Equity price risks are . As compared to a fund with fluctuating total returns. cc. True x. wants better returns than those offered by mutual funds x. none of the above 366. The risk tolerance of an investors is independent of aa.

recommend some investment option available dd. Which of the following is most risky? y. Investing in a money market mutual fund z. aa. which does not necessarily indicate further performance s. in distribution phase dd. market level risk cc. Standard Deviation measures total risk. Short term investment in an equity fund bb. invest all the money in one fund scheme bb. buy a few units of every mutual fund scheme available aa. Equity Growth funds dd. in accumulation phase ee. All types of funds can be measured with standard deviation 382. True bb. company specific risk bb. Debt funds bb. company specific market level sector specific all of the above dd. both of the above dd. none of the above 386. False 388. invest all the money in different schemes of the same fund family 384. in transition phase 378. allocating the right proportion of funds to equity. only realistic wealth accumulation goals 385. none of the above 379. Diversification reduces aa. Index Funds cc. The liquidity needs of an investor are met through aa. Gilt funds bb. low post tax returns . better returns than every other available option ff. help the investor develop the right approach to investing cc. and is more risky in a falling market aa. The role of an agent is to aa. Long term investment in an equity fund 380. it can be used for all investors whom he/she advises aa. Asset Allocation is aa. z. Investing in an index fund aa. income and liquidity u.y. False 381. Asset distribution among equity. develop a model portfolio z. a greater proportion of investment should be advised in aa. True bb. Money Market Funds dd. Income Funds cc. Equity funds cc. To satisfy a young investor's need for growth. One of the most effective ways to invest through mutual funds is to y. point out the features and benefits of various investments options bb. A retired person generally needs a greater proportion of aa. Mutual fund should be advised to expect cc. All of the above 390. allocation the available money to all the securities available cc. It is based on past returns. Money Market funds dd. Once a financial advisor works out ideal Asset Allocation. Sector Funds 389. Equity Funds bb. dramatic results ee. offer ad hoc advise whenever the investor has surplus money available 383. True v. A fund with a high beta coefficient gives greater returns in a rising market. bb. debt and money market securities dd. It is an independent number t. not just market risk r. keeping certificates of the physical securities in proper places bb. debt and money market securities should correspond to the investors' need for capital growth. False 387. A very high proportion of investment in all types of equity funds is advisable for investors cc. Which of the following is a disadvantage of Standard Deviation as a measure of risk q. Liquid funds 391.

deferred load jj. A value fund and a government securities fund gg. is higher for investors who stay invested in the scheme longer hh. Which of the following fund types are comparable ee. Past performance should not be solely relied on for selecting a fund x. affluent investors cc. no financial planning is required z. entry load hh. investors in the distribution phase 394. never invest in equity 395. True bb. investor suddenly gets a windfall 393. True z. False 402. is the same for all investors irrespective of how long they stay invested jj. the specific securities in which the fund has invested cc. Retired investors should y. recovery charge ff. True dd. the right investment strategy depends upon the state of the stock market bb. The transition phase of an investor's wealth cycle is when y. Only if a specialty offshore fund has consistently given very good performance. False 398. all of the above 401. An equity fund's age and size are irrelevant when selecting a fund for investment cc. exit load 403. not draw down on their capital z. no-load 404. A high proportion of investment in income funds is required by aa. is not allowed to be charged to mutual fund investors in India 405 A fund's declared NAV does not include loads ee. it can be considered for investment by a retiree y. is lower for investors who stay invested in the scheme longer ii. need not pay any taxes on the newly acquired wealth as it is not a part of their regular income 397. False 406. past performance is more important aa. can speculate with all the acquired money in the stock markets x. the investor has retired aa. repurchase load gg. exit load ii. y. A bond fund and a debt fund . The load amount charged to a scheme over a period of time is called gg. True ff. Contingent Deferred Sales Charge (CDSC) gg. An aggressive equity fund and a money market mutual fund ff. financial goals are approaching bb. should take the effect of taxes into account z. the number of employees of the AMC dd. who are wealth preserving affluent individuals 392. True False 399.ff. the financial goals have been already met z. accumulating investors bb. Structural characterisations of an equity fund include aa. all the funds can be invested in aggressive equity funds 396. redemption weight hh. Between the past performance of a fund and its suitability for an investor. not invest in securities which bear risk of capital erosion aa. For older investors who want to transfer their wealth y. costs of investing bb. investors in the inter-generational transfer phase dd. Investors who acquire sudden wealth w. should not use any of the new wealth to invest in equity y. The charge to an investor at the time of he redeems his units from the fund is known as ee. False 400. the right investment strategy depends upon who the beneficiaries are aa. continue holding a major portion of their holding in equity growth funds bb.

trusts dd. The best equity fund. all of the above 413. higher Beta and higher Gross Dividend Yield gg. higher Ex Marks. The Trustees gg. lower Beta and lower Gross Dividend Yield hh. long-term orientation ff. gg. income margins for debt funds are ee. higher gg. A diversified equity fund and a debt fund 407. Units of a money market mutual fund can be issued to aa. none of the above 414. lower Beta and higher Gross Dividend Yield ff. those at the top of the performance rankings should be avoided ee. In case of a fund merger or Take-over gg. Yield-to-maturity of a debt fund's portfolio is more important when the investment objective is cc. individuals bb. all of the above 410. risk aa. state of the stock market dd. when top ten holdings account for more than 50% of net assets invested hh. ff. UTI is allowed to borrow within more relaxed norms gg. Debt funds with long-term investments carry higher risk of capital loss . True hh. High Court approval may not be necessary hh. most investors are always in debt bb. level of risk assumed by the fund cc. the same hh. An equity fund can be said to be concentrated when ee. all of the above 421.hh. the Indian Stock Market is always going down z. The size of the market capitalisation of a fund's equity holdings is inversely proportional to the returns that aa. When selecting equity funds for investing. when it invests in only in two or three stocks ff. The custodians 408. Debt schemes are popular because y. A steady holding of investments in an equity fund's portfolio indicates ee. The Registrars hh. relative to others. would have ee. all of the above 420. performance z. both the above hh. total return ee. True ff. higher Ex Marks. both the above bb. Who is the primary guardian of unitholders' funds/assets ee. lower Ex Marks. liquidity ff. False 418. False 419. when top ten holdings account for more than 25% of net assets invested 412. the returns are more predictable aa. when it invests in may companies of the same sector gg. Compared to equity funds. lower Ex Marks. current income dd. Though Indian mutual funds have restrictions on borrowings (only20% of net assets and for six months only) which are to meet cash needs for redemption only. lower transaction costs gg. higher Beta and higher Gross Dividend Yield 417. narrow ff. performance risk both the above none of the above 415. none of the above 416. True z. all unitholders must be informed jj. hh. all of the above 409. False 411. A debt fund's age and size are not important when selecting a fund for investment y. almost nil 422. can be expected from the fund bb. Beta of an equity fund measures its y. banks cc. Ex-Mark of an equity fund measures its ee. SEBI approval is a must ii. The AMC ff.

accept the application without wasting time ff. All debt fund investors are exposed to risk of principal loss ee. gross yields bb. none of the above 434. past performance ff. An Ex-Mark of 100% is possible for cc. reject the application outright gg.cc. the sponsor if returns have been guaranteed by them jj. which type of fund would have a higher P/E multiple in comparison to the average market multiple . cyclical changes in economy v. tenure of the fund manager 424. Of the following. Which is the most important in selecting debt fund for better return ee. low quality of investments ff. none of the above 425. Running a money market mutual fund requires more of cc. a balanced fund 436. True dd. the AMC hh. equity funds bb. has not been traded for 60 days prior to valuation ff. trading skills 427. lower expense ratio ee. an investor cancels his investment x. False 426. True ff. not that of a client z. a growth fund dd. Dstribution tax should be taken into into account when computing net returns from aa. False 423. An aggrieved unit-holder of a mutual fund can sue gg. accept the application as a direct application 432. an agent sells many mutual funds 437. the investor redeems his investment in a very short time y. If a charitable trust approaches a distributor with an application for investment in a mutual fund. Circumstances that might cause an investor to change the composition of his portfolio u. An application form for investment in a mutual fund is available with cc. none of the above 431. the abridged annual report ee. level of interest rates gg. Investors should be advised to avoid investing in a debt fund with a cc. both the above dd. An ideal money market mutual fund must have cc. lower rated portfolio and higher expense ratio 429. The differerentiating factor among debt funds of comparable maturity and quality is aa. an aggressive growth fund ee. lower returns dd. an agent invests his own money. A trail commission is justified when w. lower rated portfolio and lower expense ratio ff. the securities in which it has invested 428. all the above 430. both the above x. is not listed on any stock exchange hh. fund age dd. debt funds cc. As per SEBI regulations for valuation of investments held by mutual funds. a bank challan 433. costs cc. equity analysis skills ee. credit analysis skills dd. the distributor should ee. unforeseen economic changes affecting the portfolio's preferred sectors w. the trustees ii. refer to the offer document hh. is held by the mutual fund without buying or selling 435. patience ff. an index fund ff. fund expertise hh. has not been traded for 30 days prior to valuation gg. lower rated portfolio and higher expense ratio dd. the key information memorandum ff. higher rated portfolio and lower expense ratio ee. a security is considered "non-traded" when it ee. the offer document dd.

ee. Corporate Bonds ff. that the fund is active dd. False 438. The Indian debt market cc. has its price determined by market forces 443. False 451 Bonds held in the portfolio of a mutual fund are valued at yield to maturity ee. Total investment in rated debt securities below investment grade should not exceed 25% of NAV 439. False 450. Which of the following is not true as per SEBI Regulations for Debt Funds? ee. higher transaction costs ee. has the same status as a unit-holder of a fund aa. False 445. Which of the following is true for Equity Linked Savings Scheme (ELSS) aa. Total investment in unrated debt securities below investment grade should not exceed 25% of NAV hh. Value Fund hh. ff. The minimum amount for investment is fixed dd. Of the following. gg. An AMC can approach investors either directly or with the help of aa. Unit Trust of India's US-64 Scheme ee. all of the above 446. which would be suitable for a retiree with a modest risk appetite gg. Investment in rated debt securities of a single issuer should not exceed 15% of NAV ff. An exit load guarantees a higher return aa. A fund that charges a load is better than a noload fund cc. Growth Fund jj. The investment has to be locked in for 3 years cc. other mutual fund of the same type dd. A Value Fund A Growth Fund An Index Fund Could be any of the above three. True ff. True bb. Unrated securities in the portfolio of a mutual fund are not to be valued ee. True jj. is Wholesale in nature dd. Balanced Fund 441. all of the above . True ff. one cannot generalise 444. Diversified Equity Fund ii. witnesses large scale trading in government securities ff. both the above ff. distribution companies dd. can sue the AMC/trustee bb. All of the above 447. none of the above 442. all of the above 448. hh. comprises large players like financial institutions and banks ee. False 452 The Valuation of non-traded equity shares is done at the trading price 30 days prior to valuation date ii. is listed on stock exchanges ff. A Money Market Mutual Fund is most likely to invest in ee. A tax rebate is available to investors in these schemes bb. has a fixed price for sale and repurchase gg. Equity Shares gg. True dd. all of the above 449. An investor can assess the performance of his mutual fund by comparing it with the performance of cc. A prospective investor z. banks and non-banking finance companies cc. the stock market ee. individual agents bb. has no legal recourse cc. A high portfolio turnover for a fund indicates cc. has its sale and repurchase price declared periodicaly by UTI hh. All of the above 440. other financial products ff. Government Securities with maturity less than 1 year hh. Total investment in unrated debt securities of a single issuer should not exceed 25% of NAV gg.

Which of the following is the first step in financial planning ii. bears interest at varying interests 457. A fund sells 100 units of face value Rs. How much tax does the fund have to pay? ii. Rs. an asset management company 458. which of the following need not be published in the offer document? ii.21. banks 463.1000 ll. 12% kk.10/.27. 100 ee. describe the past performance of the scheme ll. A debt fund distributes a 10% dividend. An investor buys one unit of a fund at an NAV of Rs. It gives good capital appreciation over its term ii. all of the above 456. Means of fulfilling the guarantee jj.25. Rs. False 454. None of the above 467. It gives high current returns hh. The unit is redeemed at an NAV of Rs. comparison with other mutual funds ll. Total Return is ee. Information for all schemes launched by the fund in the past kk. It should be bought due to the need for insurance and not as an investment jj. is redeemed at a price much higher than issue price ll.at an NAV of Rs. 12% kk. All of the above 468.12. 25. The most important reason for an investor to prefer a bank deposit to a mutual fund is gg. rate of interest mm.3 when the NAV is Rs. None 464. 30 ff. 10% jj.1225 jj. 40 dd. yield ll. company kk. compare the fund with other mutual funds mm. Rs. He receives a dividend of Rs. When selling a mutual fund. 10. none of the above 466. Investment objective 462. The most important factor look for when investing in a corporate fixed deposit is the kk.2% ll. Why should one buy an insurance policy? gg.27% hh. assure a rate of return nn. because the bank does not invest in securities ii. none of the above 461. Mutual fund units can be distributed by ee. 20% ll. A deep discount bond ii. 21. 10% jj. is always sold at a discount to its issue price jj. Non-banking finance companies hh.20. bears interest annually kk. body corporate jj.225 kk. he has not exit option kk. Rs. A debt fund distributes 10% dividend. None 465.21. How much would be credited to unit capital? ii.71% ff. Rs. that the bank offers a guarantee jj. How many scrips is the NIFTY constitutes of cc. SEBI Regulations for Mutual Funds were formulated in .75 460. credit rating of the deposit nn. a good agent would never kk. the AMC gg. none of the above 455. Selection of fund kk.51 gg.22.453 If a unit-holder does not agree to the merger of his fund with another. True ll. When a scheme with assured returns is being launched. A mutual fund in India is a ii. How much tax does the investor have to pay on this dividend? ii. compare the fund with other financial products 459. the credit worthiness of the bank hh. trust ll. trustees of the fund ff. Studying the features of a scheme ll. Asset Allocation jj.

SBI MF jj. 1992 z. Expenses incurred by a fund for printing of Key Information Memorandum can be amortised over cc. RBI hh. Investment Objectives jj. 1964 to 1992 ll. SHCIL 483. dd. exempting all mutual fund dividends in the hands of investors from income tax mm. none of the above 473.aa. cc. diversification ii. approving the code of ethics formulated by AMFI nn. none of the above 474. both the above hh. 1993 aa. MEP-91 jj. Which was the first diversified equity investment scheme in India gg. 1995 481. False 477. It was set up in 1963 jj. 1998 bb. large volume of trades hh. ULIP hh. portfolio diversification ff. 5 Yrs ee. SBI Magnum 479. The first non-UTI mutual fund was ii. Mastergain-92 480. 10 Yrs dd. Unit holders 471. regulating the industry practices ll. he is able to carry out detailed investment research and monitor the stock market gg. The 1999 Union Government Budget helped the Mutual Fund industry by kk. AMFI jj. Which of the following is a disadvantage suffered by a mutual fund investor? gg. his capital base is large ff. 1984 to 1988 jj. Board of Trustees ii. UTI Mastershare ii. none of the above 475. Which scheme has the largest investor base? gg. bb. It was formed by RBI kk. risk reduction gg. low investment . It was not given a monopoly status 478. SEBI ii. no tailor made portfolio jj. 1963 to 1988 kk. maintain balance in their portfolio by liquidating a part of the position in the asset class which has given higher return and reinvesting in the other asset class which has lower return ff. LIC MF kk. A mutual funds' investments are guided by the gg. AMC hh. SBI Magnum hh. are not disciplined gg. Investors who follow the fixed Asset Allocation approach ee. True hh. doing away with all regulations for mutual funds 469. Which of the following statements about UTI is untrue ii. The organisation responsible for a comprehensive set of regulations for all mutual funds in India is gg. Indian Bank MF 482. A disadvantage suffered by mutual fund investor is that he has no control over the costs of investing gg. The private sector was granted permission to enter the mutual fund industry in y. 1992 1993 1995 1996 476. 15 Yrs ff. US-64 jj. UTI Mastershare ii. none of the above 472. Cannot be amortised 470. It was established by an act of Parliament ll. Canbank MF ll. High liquidity hh. UTI was the only mutual fund for the period ii. Mutual fund can benefit from economies of scale because of ee. An investor should not invest in a mutual fund if ee. increase their equity position when equity prices tend to climb hh.

Board of Trustees kk. Offer Document of a mutual fund is ii. SEBI ll. asset classification. sector selection. The units of a scheme being sold and repurchases as per the procedure laid down is one of the fundamental attributes of a scheme ii. Compounding of interest is best explained by a gg.5. historical data of fund performance hh. value fund jj. ExMarks 80 hh. the composition and size of the portfolio ff. required by the AMC for its own reference kk. Which of the following characterise the fund that a risk averse investor should choose ee. During the period 1992-99. ExMarks 80 . none of the above 487. What would you advise him? gg. required as per SEBI regulations ll. Beta 1. not mandatory as per SEBI 489. income fund 492. Which of the following about Public Providend Fund (PPF) are untrue gg. The specified stocks in the scheme's portfolio ll. asset classification 491.40% of gross domestic savings 485. Beta 1. the one that meets his investment objective. 5% . An investor wishes to switch between a money market mutual fund and an equity fund. all of the following are required except ee. Gross dividend yield 11%. A close-ended scheme is quoted on the stock exchange at a discount to its NAV when aa. required by investors jj. ExMarks 90 ff. none of the above 494. jj. the assets of the fund are undervalued dd. RBI 493.484. selection of fund managers and schemes. contributions upto Rs.4% of gross domestic savings kk. selection of fund managers and schemes. the nature of investments 495. The rate of interest is 12% p. The name and address of the compliance officer 488. hh.60000 are eligible for tax rebate 486. the investment objective gg. asset classification mm. The nature of the scheme being income bearing kk. Ex-Marks 70 gg. asset classification. the markets are bearish bb. For choosing an appropriate benchmark to measure a scheme's performance. investors perceive that the fund will be unable to maintain the NAV cc.9. 50% of the balance of the 4th year can be withdrawn in the 7th year hh.10% of gross domestic savings ll. The names and addresses of the registrars and custodians jj. The interest is tax free ii. Which of the following is a fundamental attribute of a mutual fund scheme ii. growth fund ii. sector selection. From whom can a unit-holder seek redressal if his complaint is not entertained by the mutual fund ii. balanced fund hh. The steps involved in the selection of an equity fund for investment are kk. sector selection. False 490.a. True jj. 2% . sector selection. 7% . Gross dividend Neil 10%. 25% .6% of gross domestic savings jj. It would be better to stick to one type of fund. Gross dividend yield 12%. He should keep switching parts of his investment from the equity fund to the money market fund as the market rises and switch back to the equity fund when the market falls ii. AMC jj. He should switch from the money market fund to the equity fund in a rising market and switch back to money market fund when the market falls jj. Beta 0. selection of fund managers and schemes nn. Gross dividend yield 15% Beta 1.2. the mobilisation of funds by the mutual fund industry was about ii. selection of fund managers and schemes ll.

liquidity risk gg. What is the NAV cc. default risk 497.15 ff. sell long duration securities and buy short duration securities gg. In which type of schemes should an unmarried professional working HLL invest gg.40. An investor buys units in a fund that has given excellent returns in the past.98 ee. sue the AMC hh. 50% in equity funds and 50% in income funds ii. see that the fund's average duration becomes longer than the market's average duration ff. Rs. sell short maturity securities and buy long maturity securities ee. none of the above 500. a debt fund manager will do all of the following except dd. Total liabilities stand at Rs. Rs.50 lacs and the number of units outstanding is Rs. but his expectations are not met as the fund does not perform well this year. The investor can gg.32.28 Crores. reinvestment risk ff. Scheme investing 80% in debt securities hh. all the money in a balanced fund 499. 90% in equity funds having a higher P/E Ratio than the market jj. sue the Trustees ii. sue the agent jj. A fund's investments at market value total Rs.700 crores.19 dd.49 .24.30. sell high coupon securities and buy low coupon securities 498.496. If yields fall. Rs. interest rate risk hh. Rs. A mainstream diversified debt fund is most affected by ee.

No 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 Ans a d b d c c c c b d c a d d b c c d c d b b d d c a c a d a c b b b d a b c b b b c c b a b a d Q. No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Ans b b d d c c b c d c b b d c b d b d c c b d c a d d c b c d b c b b b c b c a b b a b c b b c b Q. No 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 Ans c d d d b a c d a d a d c c b d c b b d c b b d d b c c c c d b d c b a c a d b d b b a d b c c Q. No 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 Ans b d b d b c a d a c b d d a a a b b b d b a b a c a c c b b d a b b c c c a b b b b a b c a a c .Answers to Practice Question Q. No 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 Ans d a b c a d a d d b b c a d d b b a c a b c a d c d d a d a d a b c b d a c b c a b c b d c d c Q.

No 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 A n s a b d c c a a d b a c b b c a b a b a d b b b b b c b a b a b a b c c b b d c a b c d a a c d b Q. No 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 A n s a b b c a c c c a c c d d c d a c d b c b a c c c a d c b b a b b a c b b c a c b c b c c c c c . No 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 A n s a a a d b b d d b a d c d d c b b b b a a c d b a b b c b b a a b d c d b d d b s d c d d c b b Q.49 50 B A 99 100 c a 149 150 b c 199 200 b a 249 250 c a Answers to Practice Question for AMFI Test Q. No 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 A n s b a d b b d a b d b d a b c b b c c b a b b a b a d d a c a b b a d c b a c a c b c d b b c b a Q. No 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 A n s b c c b a c c d d a c b c a b a a a b b a a a b a d c a b c c c c b c b b b c d c c d b d d a d Q.

299 300 c b 349 350 b a 399 400 b b 449 450 b b 499 500 d b .

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