Here is the next quiz in the quiz/MCQ series for Principles and Practices of Banking subject of JAIIB. This post covers the topics of Mutual Fund MCQ Part 2. Answers are given at the end of the quiz.
Q1. Income scheme mutual funds invests primarily in __________?
A debt mutual fund scheme invests a significant portion of its portfolio in fixed-income securities like government securities (G-Sec), debentures, corporate bonds and other money-market instruments. Fixed income mutual funds aim to generate returns by investing in bonds and other fixed-income securities which means that these funds buy the bonds and earn interest income on the investments.
Gilt funds are debt funds that invest in government securities. The government bonds used to be issued in golden-edged certificates
An equity-linked savings scheme or ELSS is a tax-saving investment under Section 80C of the Income Tax Act, 1961. By investing in ELSS, you can claim a tax rebate of up to Rs 1,50,000 a year. An ELSS is the only kind of mutual fund eligible for tax benefits under Section 80C.
As per SEBI regulations, a new fund offering can remain active in the market for a maximum of 15 days.
The various risk levels and the corresponding colour codes are:
NAV is required to be disclosed by the mutual funds on a daily basis. The NAV per unit of all mutual fund schemes have to be updated on AMFI‟s website and the Mutual Funds‟ website by 9 p.m. of the same day. Fund of Funds are allowed time till 10 a.m. the following business day to update the information
Mutual funds round off NAVs upto four decimals in respect of index funds and all types of debt-oriented schemes like liquid/money market, gilt, income, short term plan, fixed maturity plan, monthly income plans, etc
Mutual funds round off NAVs upto two decimals in case of equity-oriented and balanced fund schemes.
Q10. Fund of funds (FoF) mutual funds invests in _________
Fund of funds is a Mutual Fund which utilises its pool of resources to invest in various other kinds of mutual funds available in the market. Alternatively, investment in hedge funds can also be made via this Mutual Fund.
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Tags: Mutual Fund MCQ, Mutual Fund MCQ JAIIB
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