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Exam 4: Managed Funds and Other Investment Companies

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Question 21

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Unlisted investments are often called ________.

A) Unit investment trusts
B) Open-end funds
C) Closed-end funds
D) REITs

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Question 22

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Life-cycle funds are ________.

A) growth funds
B) closed-end funds
C) balanced funds
D) stable funds

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Question 23

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The greatest percentage of growth fund assets are invested in ________.

Compared with managed funds, ETFs ________.

Consider a mutual fund with $300 million in assets at the start of the year, and 12 million shares outstanding. If the gross return on assets is 18% and the total expense ratio is 2% of the year end value, what is the rate of return on the fund?

The contribution fee of managed funds is generally around ________ of the value of the investment.

Managed funds that vary the proportions of funds invested in particular market sectors according to the fund manager's forecast of the performance of that market sector, are called ________.

A mutual fund has total assets outstanding of $69 million. During the year the fund bought and sold assets equal to $17.25 million. This fund's turnover rate was ________.

________ is a false statement regarding open-end funds.

Assume that you have recently purchased 100 shares in an investment company. Upon examining the balance sheet, you note the firm is reporting $225 million in assets, $30 million in liabilities, and 10 million shares outstanding. What is the Net Asset Value (NAV) of these shares?

Australian Real Estate Investment Trust is an example of ________.

The assets of a managed fund are $25 million. The liabilities are $4 million. If the fund has 700 000 shares outstanding and pays a $3 dividend, what is the dividend yield?

The main investments of growth funds are ________.

Assume that you have just purchased some shares in an investment company reporting $500 million in assets, $50 million in liabilities, and 50 million shares outstanding. What is the Net Asset Value (NAV) of these shares?

Balanced funds hold both ________.

Which of the following is not a type of managed investment company?

Rank the following fund categories from most risky to least risky: I. Equity growth fund II. Balanced fund III. Sector fund IV. Money market fund

Advantages of investment companies to investors include all but which one of the following?

The ratio of trading activity of a portfolio to the assets of the portfolio, is called ________.

The investment philosophy of ETFs is ________.