Assessment: Fundamentals of Collective Investment Schemes 19_20
Assessment Information
Total number of questions: 15
Competency Mark: 65%
Duration: 45 minutes
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Question 1 of 15
1. Question
Which ONE of the following statements with regard to investment in a collective investment scheme is correct?
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Question 2 of 15
2. Question
Complete the sentence.
Investors in open-end collective investment schemes can sell their shares or units-
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Question 3 of 15
3. Question
According to the ASISA classification system, a collective investment scheme classified as a South African portfolio must at least hold which percentage of their assets in South African investment markets?
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Question 4 of 15
4. Question
Consider the following asset allocation of a collective investment scheme. According to the ASISA fund classification, the fund will be classified as a/an-
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Question 5 of 15
5. Question
Which of the following statements regarding the advantages and disadvantages of active and passive management are correct?
i. The fees of a passively managed fund are usually twice as much as an actively managed fund.
ii. An active fund manager can shield investors from the full extent of a market downswing.
iii. There is a strong possibility that a passively managed fund can out-perform the market at times.
iv. Passive fund management provides simplicity as the investor knows what they are getting. -
Question 6 of 15
6. Question
Complete the sentence.
The per unit price of a collective investment scheme is quoted as the-
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Question 7 of 15
7. Question
Which of ONE the following statements with regard to the fees charged on collective investment schemes is correct?
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Question 8 of 15
8. Question
Broker fees paid out of the annual management fee is known as a/an-
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Question 9 of 15
9. Question
Calculate the total expense ratio given the following:- Investment management fee: 1.25%
- Other expenses: 0.05%
- Transaction costs: 0.10%
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Question 10 of 15
10. Question
Consider the following risk measures indicated on the fact sheet of a fund.
Risk measure Fund Benchmark Maximum drawdown -4.1 N/A Percentage positive months 78.8 100 Standard deviation 4.4 0.7 Highest annual return 23.3 14.6 Lowest annual return 2.8 6.2 Which of the following statements with regard to the fund is correct.
i. The highest percentage decline the fund has had is 4.1%
ii. The highest percentage decline the fund has had is 2.8%
iii. The monthly volatility of the fund is 4.4%
iv. The monthly volatility of the fund is 20.5 -
Question 11 of 15
11. Question
Which ONE of the following statements with regard to fund of funds are correct?
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Question 12 of 15
12. Question
Which of the following is an advantage of investing in linked products?
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Question 13 of 15
13. Question
A portfolio of separate collective investment portfolios and money market accounts or money market instruments is known as a-
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Question 14 of 15
14. Question
Investment managers that seek to develop well-diversified portfolios with average growth and valuation characteristics similar to the broad market is known as-
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Question 15 of 15
15. Question
An investor wishes to invest in a financial product with underlying investment in collective investment schemes. The investor is 48 years old, self-employed and have a R2 000 per month to invest for purpose of retirement. The investor seeks some exposure to domestic equity as well.
Which one of the following structure products is most suitable for the investor?
