NISM Series XIX-C AIF Managers Certification Exam -12
NISM Series XIX-C AIF Managers Certification Exam -12
Explore Additional Mock Tests Here
Q 1. Which regulatory body governs investments by NRIs and PIOs in India?
a) SEBI (Securities and Exchange Board of India)
b) RBI (Reserve Bank of India)
c) IRDAI (Insurance Regulatory and Development Authority of India)
d) None of the above
Q 2. What must FVCI funds do before commencing investment activity in India?
a) Register with the Ministry of Corporate Affairs
b) Register with the RBI
c) Register with SEBI
d) None of the above
Q 3. What are the primary characteristics of investments made through managed portfolios?
a) Indirect investments
b) Direct ownership of securities
c) High liquidity
d) Guaranteed returns
Q 4. What is a characteristic feature of Real Estate Investment Trusts (REITs)?
a) High liquidity due to non-listed status
b) Direct holding of real estate assets
c) Limited exposure to market risk
d) Entitlement to underlying cash flow from rent-yielding properties
Q 5. What is the primary objective of private equity investment?
a) Ensuring market stability
b) Achieving higher than market returns
c) Providing affordable financing to startups
d) Minimizing financial risks
Q 6. How do hedge funds differentiate themselves from other Alternative Investment Funds (AIFs)?
a) By investing only in listed securities
b) By using simple investment strategies
c) By employing diverse or complex trading strategies
d) By focusing solely on long positions
Q 7. What risk factors are associated with alternative investments are highlighted in the comparative assessment?
a) Low liquidity risk
b) Market risk
c) Minimal contractual risks
d) Simplified fund structuring
Q 8. What impact does the fast pace of technological change have on portfolio management?
a) Decreased disruption trends
b) Increased forecast accuracy
c) Easier identification of winners and losers
d) Reduced economic factors
Q 9. What type of cash flow arrangement is typically associated with debt instruments?
a) Fixed periodic payments
b) Variable dividend payments
c) Capital appreciation
d) No cashflow arrangement
Q 10. What is encompassed by the strong form of the Efficient Market Hypothesis (EMH)?
a) Weak-form EMH only
b) Semi-strong-form EMH only
c) Weak-form EMH and semi-strong-form EMH
d) Future expectations only
Q 11. What kind of evidence has been uncovered regarding the Efficient Market Hypotheses (EMH)?
a) Consistent support for EMH
b) Disproval of all aspects of EMH
c) Mixed evidence supporting and challenging EMH
d) Evidence only supporting strong-form EMH
Q 12. What practices are common in the US market during tax planning, contributing to selling pressure?
a) Advance tax payments
b) Government borrowing program
c) Additional deposit-taking by banks
d) Anticipation of closing transactions
Q 13. What type of information does the Weak-form Efficient Market Hypothesis (EMH) assume to be fully reflected in current market prices?
a) Fundamental analysis
b) Insider information
c) Historical information
d) Technical analysis
Q 14. What is an optimum portfolio?
a) A portfolio with the highest risk and highest return
b) A portfolio with the lowest risk and lowest return
c) A portfolio that meets all constraints with the highest return
d) A combination of investments with desirable individual risk-return characteristics for given constraints
Q 15. How did Harry Markowitz derive a formula for Modern Portfolio Theory (MPT)?
a) Expected utility of investments
b) Variance of individual asset returns
c) Expected return of a portfolio
d) Covariance of individual asset returns