IFIC (Unit 8 Quiz) UPDATED ACTUAL Exam Questions and CORRECT Answers

IFIC (Unit 8 Quiz) UPDATED
ACTUAL Exam Questions and
CORRECT Answers

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Terms in this set (88)


The MF is a The MF is a _____________ entity from
separate entity the company managing the fund
from the
company
managing the
fund
- The MF is
structured as a
Corp or as a
trust

,The MF is The MF is structured as a ___________
structured as a or as a trust
Corp or as a
trust

Investors in a Investors in a MF corp are known
MF corp are as _____________________
known as - Has a board of directors (rather
shareholders than Trustees)
- Has a board Investors in a MF trust are referred
of directors to as ____________________
(rather than - Has a trustee (rather than board
Trustees) of directors)
Investors in a
MF trust are
referred to as
unitholders
- Has a trustee
(rather than
board of
directors)

,Mutual fund Mutual fund _____________: series of
complex: series organizations responsible for the
of fund
organizations
responsible for
the fund
Includes:
- investment
fund manager
- portfolio
manager
- custodian
- and more

, Investment ___________ fund manager (aka MF
fund manager company)
- chooses the - chooses the portfolio fund
portfolio fund manager
manager - paid an annual management fee
- paid an - Usually the boarder of directors
annual (for a corp) or trustee (for a trust)
management
fee
- Usually the
boarder of
directors (for a
corp) or trustee
(for a trust)

Portfolio ____________ manager
manager - responsible for trading (making
- responsible investment decisions)
for trading -paid through management fees
(making
investment
decisions)
-paid through
management
fees