Quiz 5-1

What is the difference between investment fund and In Russia the largest NAV of unit funds is that
hedge fund (write down) of
1.open-end funds
Mutual funds are regulated investment products offered 2.closed-end funds
to the public and available for daily trading. Hedge 3.interval funds
funds are private investments that are only available to 4.other
accredited investors. Hedge funds are known for using
higher risk investing strategies with the goal of
achieving higher returns for their investors.

The Glass-Steagall Act is (was) regulating Institutional investors (according to OECD

statistics) are
1. the issuance of securities by commercial banks 1. banks
2. the activities of the mutual funds 2. non-banking corporations
3. margin trading 3. insurance companies
4.other variant 4. pension funds
5. investment funds
Write down all countries from the G7 group with the Write down the main indicator, demonstrating
bank-based financial system the scale of the insurance market in a single
country
Germany, Japan
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The countries with the predominantly funded pension UCITS (indicate all, that is true)
systems are 1. investment fund in the EU
1.Germany 2. investment fund in the US and Canada
2.France 3. open-end fund
3.US 4. closed-end fund
4.UK 5. may invest in real estate
5.Netherlands 6.may invest in exchange-listed shares

Financial modernization Act of 1999 (Gramm-Leach- Bank regulation in the US is executed by

Bliley Act) allows bank holding companies (indicate 1. Federal Reserve System
all that is true) 2. Office of the Comptroller of the Currency
1. underwriting shares 3. Federal Deposit Insurance Corporation
2. insurance business
3. repeals main points of Glass-Steagall Act
4. other variant
Indicate 2 countries with the highest share of Underline notions, pertaining to the
insurance companies and pension funds in US pension system
the equity ownership
1.USA 1. 401(k)
2, Japan 2. IRA
3.Germany 3. defined contribution plan
4.France 4. defined benefit plan
5.UK
6.Italy
The British merchant bank is an equivalent of The main type of institutional investors is
1. US commercial bank 1.investment funds in the US
2. factoring company 2.Pension funds in Germany
3. investment bank 3.Insurance companies in Germany
4. other variant 4.Insurance companies in US
5.Investment funds in Russia
6.Insurance companies in China
7.Pension funds in China
The main indicator of the role of insurance industry is What type of investment funds predominate?
to balance the payments, financial stability positively 1.open-end in US
and it also increases employment in economy. These 2.closed-end in US
factors also accelerate economic growth. 3. open-end in Russia
4. closed-end in Russia
FDIC compensates the deposits up to Write down 3 out of 5 main US investment
1. $100 000 banks, which existed in the US before the 2007-
2. $150 000 2009 financial crisis
3. $200 000 Bear Sterns; Lehman Brothers; Morgan Stanle
4. $250 000
5. $300 000
6. $350 000
The ratio of global financial assets to global GDP in The investment banks earn revenue from
2018 is 1.DCM underwriting
1.100% 2.ECM underwriting
2.200% 3.M&A
3.300% 4.retail loans
4.400% 5.mortgage loans
5.500%
You are a passive investor. What will you choose (one You are a non-qualified investor in Russia. You
answer)? can invest in
1.equity fund 1.stock funds
2.bond fund 2.private equity funds
3.hybrid fund 3.hedge funds
4.ETF 4.bond funds
5.ETF
6.venture fund
Indicate valid statements In what country in your opinion the insurance
1.The risks in case of defined benefit plans rest with companies should have the highest share of
the beneficiary investments in corporate securities (one answer)
2. The risks in case of defined benefit plans rest with Total Share in
Premiums Premiums Share of life
the pension plan premiums, global
Region to GDP, per capita, insurance
3.The international trend is the development in favor of $ bln premiums,
% $ premiums %
%
defined benefit plans
US 2460 39,1 11,4 7495 25,5
4. The international trend is the development in favor
Japan 441 8,5 9 3621 74,3
of defined contribution plans UK 366 5,8 10,3 4362 7
China 617 9,8 4,3 430 53,4
France 262 4,2 9,2 3719 63,9
Canada 133 2,1 7,7 3548
Taiwan 118 1,9 20 4993 82,7
Indicate the country with the largest pension funds What is the difference between the assets
assets (one answer): structure (composition) of pension funds and
1.China insurance companies
2.India Structure of portfolio of pension funds:
3.Japan -equities;- bills and bonds; -cash and deposits
4.Germany Structure of insurance companies: -public and
5.France private sectors bonds; -equity; -cash and
6.UK deposits; -land and building
7.Italy
The portfolio of the unit fund consists of: Write down in correct chronological order the
10 000 shares of ABC company with a par value of US financial acts (from the earliest)
1000 R and market value 2000 R 1.Glass-Steagall Act
10 000 OFZ Par value 1000 Market value 98,00 2.Gramm-Leach-Bliley Act
10 000 discount bonds of XYZ company Par value 3.SOX Act
1000 Market value 95,00 4.Dodd Frank Act
$10 000 (exchange rate 70)
Dividends of ABC company paid at a dividend rate of
20%
Paid coupons (interest) on OFZ at 8%
The number of units in circulation is 1000
Calculate the price of one unit
1.42 700
2.42 800
3.40 800
4.39 900
5.not enough data to calculate the price

(20,000,000+9,800,000+9,500,000+700,000+2,000,00
0+800,000)/ 1000 =42,800

Indicate all correct statements
1.the passively managed funds predominate in terms of
assets under management
2. the actively managed funds predominate in terms of
assets under management
3.the passively managed funds grow faster than
actively managed funds
4. the actively managed funds grow faster than
passively managed funds
You have a margin account with your broker.
You have 100 000 rub in the brokerage account.
You buy 200 shares at a price of 1000 rub
(100 000 is an interest-free loan from the
broker). 2 months later you sell these shares at a
price 900 rub. What is your return (annualized)?
900∗200−200∗1000
¿ ¿ *100 =- 0,2*100=-
100000
20%