33025785
Descripción
Test por Dale Doust, actualizado hace más de 1 año
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Creado por Dale Doust
hace alrededor de 3 años
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Pregunta 1
Pregunta
The 'Delivery versus Payment' system means that:
Respuesta
-
the trade date will be the same as the settlement date
-
the stock will be exchanged simultaneously with the cash
-
the transfer of ownership will take place on the trade date
-
the cash will be paid as soon as receipt of the stock is confirmed International Certificate in Wealth & Investment Management
Pregunta 2
Pregunta
Which of the following gives the right, but not the obligation, to sell individual equity at a
specified date for a given price?
Respuesta
-
Future
-
Forward contract
-
Put option
-
Call option
Pregunta 3
Pregunta
Which of the following types of investment incurs a liability for capital gains tax once sold?
Respuesta
-
Classic car
-
Government bonds
-
Units in unit trusts
-
Primary residence
Pregunta 4
Pregunta
A company's Market Value Added equates to the market assessment of the present value of
the company's future:
Respuesta
-
dividend distributions
-
economic value added
-
capital costs
-
gross profits
Pregunta 5
Pregunta
If a client wanted to make additional contributions to an occupational pension scheme, which of
the following options would give him the greatest choice of provider and a say in how the
funds are invested?
Respuesta
-
Non-contributory occupational scheme
-
Contributory occupational scheme
-
Freestanding Additional Voluntary Contributions
-
Additional Voluntary Contributions
Pregunta 6
Pregunta
Portfolio performance is:
Respuesta
-
rarely measured in absolute terms, mostly measured in relative terms
-
rarely measured in relative terms, mostly measured in absolute terms
-
only ever measured in relative terms
-
only ever measured in absolute terms
Pregunta 7
Pregunta
A client arranged for a wealth management firm to look after his investments on a non
discretionary basis. This means that the firm:
Respuesta
-
receives commission on the investment instead of fees
-
leaves the investment decisions to the client
-
subcontracts custodianship of the investment assets to a third party
-
bears some financial responsibility for any investment losses
Pregunta 8
Pregunta
Which of the following Fitch ratings denotes the LOWEST level of risk for a bond?
Respuesta
-
D
-
BBB
-
C
-
AAA
Pregunta 9
Pregunta
Which of the following implications will help to ensure financial advisers act in their clients'
best interest?
Respuesta
-
Firms that give investment advice must address the potential for adviser remuneration to distort consumer outcomes
-
Investment firms will need to switch clients into products that have no trailing commissions
-
Firms that give investment advice must charge fees within a guidance range set by the FCA
-
Investment firms will need to change their price lists to remove all percentage based fees
Pregunta 10
Pregunta
If the real annual returns of a UK equity investment are normally distributed around the mean
return of 8% with a standard deviation of 4.5% approximately two-thirds of the returns
recorded will be within what range?
Respuesta
-
-5.5% and 21.5%
-
-1% and 17%
-
3.5% and 12.5%
-
5.75% and 10.25%
Pregunta 11
Pregunta
Which of the following is likely to be the MOST important consideration when selecting the
most appropriate protection product for a client?
Respuesta
-
The level of the premium and charges
-
The financial strength of the provider
-
The quality of the service provided
-
Investment choice and performance
Pregunta 12
Pregunta
Which of the following is a limitation rather than an assumption of the Capital Asset Pricing
Model?
Respuesta
-
Investors are rational and risk averse
-
Investors hold a well-diversified portfolio
-
Investors make investment decisions based on mean variance analysis
-
Investors are rewarded for more than just their exposure to systemic risk
Pregunta 13
Pregunta
One of the core functions of the financial services sector is to facilitate the bringing together
of:
Respuesta
-
tax revenues and investment opportunities
-
short-term wealth and long-term wealth
-
liquidity and volatility
-
borrowers and investors
Pregunta 14
Pregunta
Which of the following statements is TRUE about preference shares?
Respuesta
-
The most common type is the deferred share
-
They offer a lower dividend rate than the comparative coupon rate on a debenture
-
Dividends are guaranteed each year
-
In most cases they do not carry voting rights International Certificate in Wealth & Investment Management
Pregunta 15
Pregunta
What are the possible implications for investment performance of investing in an ethical fund?
Respuesta
-
The fund may be more volatile because of the increased exposure to smaller company holdings
-
Ethical funds invest primarily in large companies producing lower total returns
-
There are no suitable benchmarks for the client to measure performance against
-
Total returns are likely to be higher due to the increased level of diversification in ethical funds
Pregunta 16
Pregunta
When considering the money supply, money is accurately described as anything that is
generally:
Respuesta
-
convertible to sterling currency
-
acceptable as a means of settling a debt
-
sustainable in value over a defined period
-
tradable and held outside of a bank or building society deposit
Pregunta 17
Pregunta
What type of information is contained in a Key Features Document?
Respuesta
-
A clear description of the financial product being recommended to the client
-
Cancellation rights if a client changes their mind about investing in a product
-
All product recommendations listed in the financial plan and the reasoning behind them
-
Taxation implications for all the products listed in the financial plan
Pregunta 18
Pregunta
An investor allowed the principle of 'regret aversion' to influence his actions. This resulted in
him:
Respuesta
-
declining to buy a stock based purely on a previous bad experience
-
B buying a badly performing stock from a friend as recompense for recommending it in the first place
-
holding a poorly performing stock for an irrationally long period
-
only selling stock once a specified loss threshold had been reached
Pregunta 19
Pregunta
Firms that specialise in looking after the assets of pension funds and fund managers are
normally known as:
Respuesta
-
trustees
-
registrars
-
underwriters
-
custodians
Pregunta 20
Pregunta
Global Depositary Receipts traded on the London Stock Exchange are settled in which
currency?
Respuesta
-
Euros
-
US Dollars
-
Japanese Yen
-
UK Sterling
Pregunta 21
Pregunta
Jackie is a private client investor and you ascertain that her investment objective and risk
tolerance are capital growth and cautious. During the meeting she asks you for your thoughts
on the use of derivatives. You respond that, in your opinion, derivatives:
Respuesta
-
are normally appropriate only where there is a high risk tolerance
-
only generate an income stream and so are not compatible with her objective
-
can generate capital growth and are suitable where there is a low risk tolerance
-
can be traded only on an execution only basis as firms cannot offer any advice or opinion
Pregunta 22
Pregunta
Which of the following is a fiscal policy used to stimulate the economy?
Respuesta
-
Raising interest rates
-
Cutting interest rates
-
Raising personal taxes
-
Cutting personal taxes
Pregunta 23
Pregunta
Where the proposer and the life assured are different people under a life policy, the policy:
Respuesta
-
provides cover on a joint life basis
-
was taken out on someone else's life
-
owner holds power of attorney status
-
was arranged by a financial adviser acting independently
Pregunta 24
Pregunta
Why is a time weighted return (TWR) preferred to a money weighted return (MWR) when
evaluating performance?
Respuesta
-
TWR only requires portfolio values at the start and end of the investment period along with dates and size of each cash flow
-
TWR eliminates the timing effect of cash flows into and out of the fund
-
TWR measures the fund growth resulting from both the underlying performance of the portfolio and the size and timing of cash flows into and out of the fund
-
TWR calculates the risk adjusted return per unit of risk
Pregunta 25
Pregunta
Where a trade operates on a T+2 basis, this normally means that:
Respuesta
-
the cash is paid two calendar days after the stock is delivered
-
the cash is paid two business days after the stock is delivered
-
settlement takes place two calendar days after the trade date
-
settlement takes place two business days after the trade date
Pregunta 26
Pregunta
Which MAIN class of financial asset is normally considered to be the LEAST liquid?
Respuesta
-
Equities
-
Corporate bonds
-
Government bonds
-
Property
Pregunta 27
Pregunta
Which of the following rules applying to financial intermediaries is directly underpinned by the
principle of fiduciary responsibility?
Respuesta
-
Commission disclosure
-
Money laundering
-
Professional indemnity
-
Best execution
Pregunta 28
Pregunta
Two sets of data are positively correlated. If one set of data rises in value, what will happen to
the other set?
Respuesta
-
Rises
-
Falls
-
No change
-
Rises to begin with then falls
Pregunta 29
Pregunta
What is the MAIN purpose of a power of attorney document?
Respuesta
-
It appoints someone to distribute the assets of a deceased person
-
It enables ownership of property to transfer from one person to another person
-
It allows one person to conduct specific transactions on behalf of another person
-
It entitles one trustee to override the demands of another trustee
Pregunta 30
Pregunta
Four bond portfolios each hold a variety of stock. Which one of them is BEST described as
operating a barbell strategy?
Respuesta
-
Portfolio A, which consists solely of bills maturing in one year plus bonds maturing in 25 and 30 years
-
Portfolio B, which consists solely of bills maturing in six months plus bonds maturing in 5, 10, 15 and 20 years
-
Portfolio C, which consists solely of bonds maturing in 1, 3 and 5 years
-
Portfolio D, which consists solely of bonds maturing in 20, 25 and 30 years
Pregunta 31
Pregunta
Which of the following is a characteristic of a quote driven market?
Respuesta
-
Orders from buyers and sellers are automatically matched and executed
-
Market makers prioritise orders according to transaction size
-
Trading hours are longer than for order driven markets
-
Market makers are obliged to provide two way prices
Pregunta 32
Pregunta
Which measurement in relation to a fixed interest investment is given by the following
formula?
Respuesta
-
Grossed up redemption yield
-
Gross redemption yield
-
Net redemption yield
-
Running yield
Pregunta 33
Pregunta
Corporation tax is a factor when considering investment as it can:
Respuesta
-
block investment opportunities
-
differ between countries
-
be deferred indefinitely
-
be subject to a different accounting period
Pregunta 34
Pregunta
What differentiates Gross Domestic Product (GDP) and Gross National Product (GNP)?
Respuesta
-
A Indirect taxes, depreciation and net exports
-
Indirect taxes and depreciation
-
Depreciation and property income
-
Net property income
Pregunta 35
Pregunta
Which of the following would MOST likely be found in a formal written report presenting
recommendations to a client?
Respuesta
-
Details of family and dependants
-
The tax implications on the client's position
-
Details of the client's occupation, earnings and other income sources
-
A summary of the client's assets and liabilities
Pregunta 36
Pregunta
Why do portfolios need a regular annual or periodic review?
Respuesta
-
To ensure that all assets are priced on a regular basis
-
To ensure that all assets are reconciled against the market
-
To ensure that all cash balances are reconciled against the actual bank
-
To ensure the portfolio still meets the client's objectives and is positioned correctly given the market conditions
Pregunta 37
Pregunta
A characteristic of the foreign exchange market is that:
Respuesta
-
it has no centralised market place
-
B it is highly illiquid
-
it is unregulated
-
D spot market transactions settle on a T + 3 basis
Pregunta 38
Pregunta
The running yield of a corporate bond is determined by calculating the coupon as a percentage
of the:
Respuesta
-
market price
-
issue price
-
gross dividend
-
nominal value
Pregunta 39
Pregunta
When recommending an investment product to a client, what material information MUST the
adviser disclose in order to satisfy the fiduciary relationship that exists between the two
parties?
Respuesta
-
Only details which have been specifically requested by the client
-
Whatever is needed to produce a guaranteed return
-
Only details which are considered to affect the investment risk
-
Whatever is needed in order for the client to make an informed decision
Pregunta 40
Pregunta
A function of the Monetary Policy Committee is to:
Respuesta
-
attempt to control inflation by setting the base rate
-
intervene in the financial markets to control money supply
-
maintain confidence in the UK financial system
-
promote public understanding of inflation
Pregunta 41
Pregunta
Where funds are to be set aside to provide for the future financial maintenance of a disabled
child, this can normally be achieved through the establishment of a legal document called a:
Respuesta
-
codicil
-
trust
-
grant of representation
-
power of attorney
Pregunta 42
Pregunta
The excess return of a portfolio or security above that of the risk adjusted benchmark is known
as:
Respuesta
-
alpha
-
beta
-
duration
-
premium
Pregunta 43
Pregunta
Which of the following types of organisation is MOST likely to arrange finance for a company
wanting to float on the stock market?
Respuesta
-
Insurance companies
-
Investment banks
-
Custodians
-
Bancassurers
Pregunta 44
Pregunta
Where the mining costs of a particular metal increase to 105% of that metal's current price,
this indicates that:
Respuesta
-
demand is significantly rising
-
supply has become unreliable
-
there is likely to be a shortage of raw materials
-
production activities are likely to stop
Pregunta 45
Pregunta
An independent financial adviser would make recommendations on which type of product?
Respuesta
-
The firm's own products
-
Products of one other provider
-
Products from across the market place
-
A range of products from a limited number of providers
Pregunta 46
Pregunta
The demand curve for a particular product will be horizontal where the supplying firm operates
in:
Respuesta
-
a perfect competitive market
-
a monopolistic market
-
a sector generating excessive profits
-
a sector generating minimal profits
Pregunta 47
Pregunta
What lump sum must someone aged 35 invest today given an assumed annual growth rate of
7% if they are to accrue a lump sum of £450,000 at the age of 65?
Respuesta
-
£14,018
-
£59,115
-
£64,285
-
£420,560
Pregunta 48
Pregunta
An investment manager believes that markets are inefficient and that he can obtain abnormal
returns after transaction charges. Which investment style is he most likely to adopt?
Respuesta
-
Passive
-
Indexation
-
Active
-
Satellite
Pregunta 49
Pregunta
What inter-governmental body develops and promotes national and international policies to
combat money laundering and terrorist financing?
Respuesta
-
Financial Stability Board
-
World Trade Organisation
-
Financial Action Task Force
-
International Monetary Fund
Pregunta 50
Pregunta
A call option is an option that generally confers
Respuesta
-
the right to buy
-
the right to sell
-
a contract to sell
-
a contract to buy
Pregunta 51
Pregunta
A consumer purchases a designated investment and the firm provides the consumer with
detailed cancellation rights over the telephone, immediately after the purchase. How has the
firm contravened the rules?
Respuesta
-
Designated investments require notice of cancellation rights to be signed by the customer
-
Cancellation rights must be given in writing
-
Consumers must be informed of cancellation rights before a purchase is confirmed in all cases
-
Consumers must receive cancellation rights in writing before identification checks are undertaken
Pregunta 52
Pregunta
The annual return of a portfolio in each of the last six years has been 8.2%, 3.6%, 5.1%, 2.1%,
9.4% and 4.7%. What is the arithmetic mean return?
Respuesta
-
4.2%
-
4.9%
-
5.5%
-
5.8%
Pregunta 53
Pregunta
Who controls the assets of a trust and looks after the property for the person or persons who
will ultimately benefit from it?
Respuesta
-
Benefactors
-
Beneficiaries
-
Creditors
-
Trustees
Pregunta 54
Pregunta
An individual has been advised to invest in some shares by a friend. He wants to make sure that
he invests in companies which do not have a volatile share price. To achieve this he should
select shares which have a beta factor of:
Respuesta
-
1
-
1.25
-
1.5
-
1.75
Pregunta 55
Pregunta
One of the key objectives of financial services regulation is to:
Respuesta
-
encourage market competition
-
reduce financial crime
-
ensure products and services represent value for money
-
liaise with financial services regulators from other countries
Pregunta 56
Pregunta
Exchange-traded funds normally operate by:
Respuesta
-
tracking indices
-
tracking an individual security
-
investing in fund of funds
-
investing in manager of managers funds
Pregunta 57
Pregunta
Which is the MOST important reason for an adviser to conduct regular reviews of a client's
circumstances and arrangements?
Respuesta
-
To help the client complete any tax documentation
-
To ensure that the adviser complies with any regulatory requirements
-
To ensure that any products continue to meet a client's needs
-
To ensure that the adviser retains any repeat business from the client
Pregunta 58
Pregunta
A company's p/e ratio recently changed from 12 to 15. This normally indicates that:
Respuesta
-
the share value has fallen
-
growth expectations have improved
-
dividend levels have become less stable
-
the relevant market sector is in decline
Pregunta 59
Pregunta
John is worried that he will be unable to work due to a heart attack. Which of the following
would enable him to claim if he had a severe heart attack?
Respuesta
-
Critical Illness cover
-
Permanent Health Insurance
-
Mortgage Protection
-
Accident, Sickness & Unemployment cover
Pregunta 60
Pregunta
Which of the following is a feature in Arbitrage Pricing Theory (APT)?
Respuesta
-
APT relies on identified factors being correlated
-
The variables of APT include real economic factors
-
The principal component of APT is the return on an index of all shares
-
APT is equivalent to a single factor Capital Asset Pricing Model
Pregunta 61
Pregunta
The members of the International Organisation of Securities Commissions (IOSCO) collectively
regulate how much of the world's securities markets?
Respuesta
-
70%
-
80%
-
90%
-
100%
Pregunta 62
Pregunta
Units in a unit trust fund are sold by which of the following?
Respuesta
-
The trustee
-
The registrar
-
The manager
-
The depositary
Pregunta 63
Pregunta
Paulo is a non-resident investor. How is he likely to benefit from a double taxation treaty?
Respuesta
-
By incurring tax at a reduced concessionary rate
-
By opting for the country with the lowest tax rate
-
By avoiding the need to register with the tax authorities
-
By obtaining a refund of withholding tax
Pregunta 64
Pregunta
Which of the following is MOST LIKELY to be a factor causing market movement?
Respuesta
-
Sentiment
-
Supply and demand
-
Economic and political strategy
-
Investor psychology
Pregunta 65
Pregunta
What are two advantages of investing in an offshore trust?
Respuesta
-
Less complex product and only local taxes apply
-
Privacy and flexibility for the client
-
Security and a less complex product
-
Privacy and only local taxes apply
Pregunta 66
Pregunta
Based on the principles of Modern Portfolio theory, an equity fund will operate on the
'efficient frontier' if:
Respuesta
-
the optimum level of systematic risk is obtained
-
the best level of diversification is achieved
-
the fund's alpha value is negative
-
the fund's beta value is one or more
Pregunta 67
Pregunta
Which of the following investments is covered by insider dealing legislation?
Respuesta
-
Commodity derivatives
-
Equity options
-
Gold
-
Residential property
Pregunta 68
Pregunta
What is a key feature of exchange-traded commodities?
Respuesta
-
They are an open-ended collective investment vehicle
-
They are available only to high net worth individuals
-
There is limited exposure to derivative contracts
-
No additional shares can be created by the fund
Pregunta 69
Pregunta
When conducting investment business for a private customer, what must a firm do?
Respuesta
-
Only invest in products that are classified as low risk
-
Make the customer aware of costs and commissions
-
Meet face to face with the client
-
Disclose the underlying investments in the investment products
Pregunta 70
Pregunta
The Liquidity (Acid Test) ratio measures a company's ability to:
Respuesta
-
increase its current assets
-
meet its current liabilities
-
increase its inventory turnover
-
pay its non-current liabilities
Pregunta 71
Pregunta
When giving financial advice on the subject of protection, it is important to quantify a client's
assets to:
Respuesta
-
determine whether the costs can be offset against tax liabilitie
-
establish what shortfall may arise if an insured event occu
-
ensure that the underwriters have sufficient information
-
identify the client's appropriate risk profile
Pregunta 72
Pregunta
Bond portfolio X exclusively contains relatively long-dated stock whereas Bond portfolio Y
operates a laddering strategy. This means that Bond X is likely to:
Respuesta
-
generate higher yields
-
present less of a credit risk
-
be more sensitive to interest rate changes
-
represent a more diversified approach
Pregunta 73
Pregunta
In order to determine how 'efficient' the market is, financial service regulators will normally
consider the extent to which:
Respuesta
-
products and services represent a reasonable return on capital employed
-
relevant information is reflected in the price formation basis
-
competition is clustered within each product sector
-
regulation is needed to address existing systemic weaknesses
Pregunta 74
Pregunta
Where an investment fund established in the UK satisfies the UCITS directive and is sold in
another EU country, what is the position regarding local taxes and local marketing laws?
Respuesta
-
It will not be subject to either
-
It will be subject to local taxes but not local marketing laws
-
It will be subject to local marketing laws but not local taxes
-
It will be subject to both local taxes and local marketing laws
Pregunta 75
Pregunta
Which of the following would provide the lowest level of risk for risk averse investors with
short term horizons?
Respuesta
-
Long term gilts
-
Cash deposits
-
Ordinary shares
-
Warrants
Pregunta 76
Pregunta
In a two-stock portfolio which of the following correlations would normally offer the greatest
level of diversification?
Respuesta
-
0.8
-
0.6
-
-0.4
-
-0.7
Pregunta 77
Pregunta
A client in the UK was granted lasting power of attorney in relation to his elderly mother. Why
did this facility fail to provide him with control over her financial affairs after she was deemed
to have lost her mental capacity?
Respuesta
-
She was over retirement age when her poor state of mind was first diagnosed
-
He was her adopted son
-
She only granted him health and welfare powers
-
He was operating a power of attorney for his father at the same time
Pregunta 78
Pregunta
In which country can shareholders be assured that listed companies will comply with the OECD
Principles for Corporate Governance?
Respuesta
-
France
-
Germany
-
UK
-
USA
Pregunta 79
Pregunta
The regulations state that Money Laundering Reporting Officers appointed by financial services
firms must:
Respuesta
-
hold the status of employee
-
hold a recognised law or accountancy qualification
-
register with the country's central bank
-
register with the country's data protection agency
Pregunta 80
Pregunta
The Undertakings for Collective Investment in Transferable Securities Directives (UCITS) cover
investment funds established in which location(s)?
Respuesta
-
England and Wales only
-
UK only
-
UK and France only
-
All European Union countries
Pregunta 81
Pregunta
How does asset allocation help meet a client's needs?
Respuesta
-
It enables clients to invest wholly in one of the MAIN asset classes to maximise returns
-
It reduces the investor's risk by investing across a range of asset classes, sectors and individual stocks
-
It provides a benchmark for a client to assess how well his investments have performed
-
It enables investors to pool their investments with others and reduce the risk of direct investment in shares
Pregunta 82
Pregunta
In technical analysis, the term, 'primary movement' refers to which of the following?
Respuesta
-
Short-term share price trend
-
Long-term share price trend
-
Short-term dividend policy
-
Long-term dividend policy
Pregunta 83
Pregunta
John is taking out a life insurance policy on Mary, his wife, and one for himself. Which of the
following statements is TRUE once the policy is in force?
Respuesta
-
John is the life assured
-
Mary is the life assured
-
Mary is the proposer
-
They are both the life assured
Pregunta 84
Pregunta
An investor has a requirement for an 8% return and is considering choosing Stock X to satisfy
this need. Based on the Capital Asset Pricing Model, if the beta value of this stock is
recalibrated from 1.2 to 1.3, this would:
Respuesta
-
increase the likelihood that the stock would be suitable
-
decrease the likelihood that the stock would be suitable
-
automatically trigger an increase in the investor's required rate
-
automatically trigger a decrease in the investor's required rate
Pregunta 85
Pregunta
One of the fundamental aims of a traditional hedge fund is to minimise which type of
investment-related risk?
Respuesta
-
Inflation risk
-
Issuer risk
-
Market risk
-
Liquidity risk
Pregunta 86
Pregunta
Which of the following is a factor that must be considered when constructing a portfolio?
Respuesta
-
Verification of the client's identity
-
The client's risk tolerance
-
The category of investment service required
-
Performance measurement
Pregunta 87
Pregunta
The difference between a nominal rate of return and a real rate of return relates solely to the
effects of
Respuesta
-
taxation
-
charges
-
inflation
-
compounding
Pregunta 88
Pregunta
Using Modern Portfolio Theory to create a two stock portfolio, which of the following is TRUE?
Respuesta
-
The lower the correlation of stock returns, the greater the portfolio's diversification
-
The higher the correlation of stock returns, the greater the portfolio's diversification
-
The higher the correlation of stock returns, the lower the level of total risk associated with any given level of expected return
-
The lower the correlation of stock returns, the higher the level of total risk associated with any given level of expected return
Pregunta 89
Pregunta
A private equity fund is MOST likely to use a structure similar to that of which of the following?
Respuesta
-
Investment Trust
-
Limited Partnership
-
OEIC
-
SICAV
Pregunta 90
Pregunta
If clients approach a firm knowing exactly which product they wish to purchase, and ask the
firm simply to arrange the purchase, this type of transaction is normally described as:
Respuesta
-
best advice
-
instruction processing
-
nominal dealing
-
execution only
Pregunta 91
Pregunta
Which of the following is NOT counted as part of the Current Account Balance?
Respuesta
-
Imported and exported goods
-
Dividends on UK holdings of overseas assets
-
Long-term capital flows
-
Interest on UK holdings of overseas assets
Pregunta 92
Pregunta
Which of the following does a passive investment manager principally invest in?
Respuesta
-
Equities
-
An index
-
Fixed income
-
Other institutional funds
Pregunta 93
Pregunta
If a collective investment scheme is unauthorised, this means that it is specifically banned
from:
Respuesta
-
operating a bid/offer spread
-
holding some of the fund assets in cash
-
being marketed to the general public
-
paying out dividends
Pregunta 94
Pregunta
Which mix of investments is most appropriate for a risk averse investor?
Respuesta
-
50% commodities and 50% equities
-
50% cash and 50% gilts
-
50% foreign exchange and 50% CFD's
-
50% property and 50% PIBS
Pregunta 95
Pregunta
If $2,200 is invested for four years with interest at the rate of 6% p.a., compounded half-yearly,
what will be the value at the end of this period?
Respuesta
-
$2,696.55
-
$2,777.45
-
$2,786.89
-
$2,860.77
Pregunta 96
Pregunta
The relationship between an adviser and a client means that the adviser has a duty to:
Respuesta
-
ensure suitable compensation is available if the client suffers a loss
-
check with a third party before providing advice to the client
-
report any wrong-doings to the authorities
-
always act in the best interests of the client
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