Questions for MFD Exam on Legal Structure of Mutual Funds in India
MFD Exam Practice Questions on Legal Structure of Mutual Funds in India. The NISM Series VA Exam seeks to create a common minimum knowledge benchmark for all persons involved in selling and distributing mutual funds. Claim your NISM VA Certification. Following are some free important questions / MCQ for NISM V-A Exam with Answers and explanation on Legal Structure of Mutual Funds in India. Start practicing questions and pass your NISM exam successfully.
MFD Exam Practice Questions on Legal Structure of Mutual Funds in India
Q 1. Who are the beneficiaries in case of mutual fund?
[a] Sponsors
[b] Mutual Fund Distributors
[c] Investors
[d] All of the above
Show Answer
Correct Answer: [c] Investors
Explanation: The beneficiaries in case of mutual fund are investors/unit holders.
Q 2. The Asset Management Company for mutual fund scheme is appointed by the sponsor or trustee. State whether True or False.
[a] True
[b] False
Show Answer
Correct Answer: [a] True
Q 3. The custodian in case of a mutual fund has custody of the assets of the fund. He also settles all the transaction on behalf of mutual fund. State whether True or False.
[a] True
[b] False
Show Answer
Correct Answer: [a] True
Read Also:- Practice Questions for NISM Series VA Exam on Risk, Return and Performance of Funds
Q 4. Which of the following has / have been appointed by AMFI for fair valuation of debt securities?
[a] CRISL
[b] ICRA
[c] a & b both
[d] None of the abve
Show Answer
Correct Answer: [c] a & b both
Q 5. AMFI is a Self-Regulatory Organisation(SRO). It regulates operations of mutual funds in India. State whether True or False.
[a] True
[b] False
Show Answer
Correct Answer: [b] False
Explanation: AMFI is neither a regulatory body nor a Self-Regulatory Organisation(SRO).
Q 6. Who is responsible to maintain investor records, allot or redeem units, process purchase/ redemption/ switch requests?
[a] Register & Transfer Agency (RTA)
[b] Custodian
[c] Auditor
[d] Mutual Fund Distributor
Show Answer
Correct Answer: [a] Register & Transfer Agency (RTA)
Q 7. Who is responsible to track corporate actions such as dividends, bonuses and rights in companies where the fund has invested?
[a] Register & Transfer Agency (RTA)
[b] Custodian
[c] Trustee
[d] Mutual Fund Distributor
Show Answer
Correct Answer: [b] Custodian
Read Also:- NISM Series V-A Mock Test – 1
Q 8. Who is responsible to ensure that mutual fund complies with all the regulation and protects the interest of the unit-holders?
[a] Register & Transfer Agency (RTA)
[b] Custodian
[c] Trustee
[d] AMFI
Show Answer
Correct Answer: [c] Trustee
Q 9. Whose prior approval is required to appoint a person as Trustee?
[a] AMC
[b] AMFI
[c] RBI
[d] SEBI
Show Answer
Correct Answer: [d] SEBI
Q 10. The appointment of an AMC can be terminated by a majority of the trustees or by 51% of the unit-holders. State whether True or False.
[a] True
[b] False
Show Answer
Correct Answer: [b] False
Explanation: The appointment of an AMC can be terminated by a majority of the trustees or by 75% of the unit-holders.
Read Also:- Know more about NISM Series VA Exam – Mutual Fund Distributors Certification
आपको यह पोस्ट कैसा लगा ? अपने सुझाव और कमेन्ट देने के लिए नीचे दिये गए कमेन्ट सेक्सन का प्रयोग करें। अगर आपको यह पोस्ट पसंद आया तो इसे अपने दोस्तों के साथ जरूर शेयर करें।
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