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Advanced Wealth Management Course (IIBF) - Paper 5
Ch 3: Organisational Structure of Mutal Funds
Q1.
Who maintains record of the unitholders account?
Q2.
Most of the communication between the unitholders and mutual fund takes place through brokers.
Q3.
(I) The appointment of an asset management company can be terminated by eighty per cent of the unitholders of the scheme. (II) The registrar and transfer agent forms the most vital interface between the unitholders and mutual fund.
Q4.
As per the regulations, for a person to qualify as a sponsor, he must contribute at least __________ of the net worth of the AMC and posses a sound financial record over five years period prior to registration.
Q5.
Which Act prohibits the limiting or extinguishing the obligations and liabilities of the trustees?
Q6.
Which Act requires federal registration of all public offerings of securities, including mutual fund shares?
Q7.
Which Act requires federal registration of all investment advisers to mutual funds?
Q8.
A Unit Trust is authorized and regulated by _____________.
Q9.
(I) Investment Trusts are open ended. (II) Unit Trusts are closed ended.
Q10.
(I) Unitholders of unit trusts enjoy unlimited rights. (II) Assets of the unit trusts are held by the trustees on behalf of the beneficiaries – the unitholders.
Q11.
Which Act regulates broker-dealers, including mutual fund principal underwriters and others who sell mutual fund shares, and requires them to register with the SEC?
Q12.
A mutual fund in UK is typically externally managed.
Q13.
Which Act provides that the investment adviser has a specific fiduciary duty with respect to compensation paid by the fund?
Q14.
Who is responsible for selecting portfolio investments in accordance with the objectives and policies set forth in the fund’s prospectus?
Q15.
The Principal underwriters are regulated as broker-dealers and are subject to National Association of Securities Dealers’ Rules regarding mutual fund sales practices.
Q16.
The trustees shall furnish to SEBI on a ___________ basis.

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