Sample Questions
NISM-Series-19E: Category III Alternative Investment Fund Managers Mock Tests — 5 random MCQs with answers & explanations
← Back to NISM-Series-19E: Category III Alternative Investment Fund Managers Mock TestsThese 5 questions are randomly selected (standard MCQs only, not case-based).
Q1 Through which investment strategy can an Investment Manager of a Category III AIF take long positions in Foreign Currencies?(NISM workbook)
Explanation:
Global Macro strategies involve taking directional positions in global markets based on macro-economic trends, which can include currencies.
Marks: 1
Q2 What is the maximum number of investors allowed in a single AIF scheme?
Explanation:
To keep these funds "private" and focused, SEBI limits them to a maximum of 1,000 investors.
Marks: 1
Q3 Which of the following Trust structures are eligible to pass-through income in the nature of ‘Capital Gains’, to its investors?(NISM workbook)
Explanation:
Per section 115UB of the ITA, income earned by an Investment Fund (excluding business income) is exempt at the fund level and taxable in the hands of investors for determinate irrevocable trusts.
Marks: 1
Q4 What must be included in an AIF's Placement Memorandum?
Explanation:
Law requires the PPM to have all important facts so investors can make a safe decision.
Marks: 1
Q5 In valuation, what does the abbreviation "NAV" stand for?
Explanation:
Net Asset Value is the total value of all the fund's assets minus its liabilities, showing what the fund is worth.
Marks: 1
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