Question 1
In a unit trust, the legal title to the fund's assets is held by which party?
Correct Answer:
The trustee
Question 2
Which feature most clearly distinguishes a unit trust from a mutual fund corporation?
Correct Answer:
A unit trust is constituted by a trust deed while a mutual fund corporation is a company with shareholders
Question 3
What is the defining feature of an open-end fund?
Correct Answer:
It continuously issues and redeems units at net asset value
Question 4
A closed-end fund's units are quoted at a price 8% below their net asset value. This situation is described as the fund trading at:
Correct Answer:
A discount
Question 5
How is the net asset value (NAV) per unit of an open-end fund normally calculated?
Correct Answer:
(Total assets minus total liabilities) divided by the number of units in issue
Question 1
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Prepare with the HKSI Paper 12 Practice Questions - HKSI Licensing Examination Paper 12 - Asset Management Exam practice quiz. This question bank includes 100 questions covering fund, investor, asset, portfolio, and investors. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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HKSI Paper 12 Practice Questions - HKSI Licensing Examination Paper 12 - Asset Management Exam

This practice set contains 100 questions from the matching question bank and focuses on fund, investor, asset, portfolio, and investors. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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