Q. A vehicle in which investment professionals promise to implement a specific active strategy in exchange for a single flat fee is known as:
1. an index fund.
2. a hedge fund.
3. a managed account.
Q. Which of the following is a need served by participants within the investment industry?
1. Custodial services
2. Monetary policy actions
3. Regulation enforcement
Q. The CFA Institute Code of Ethics stipulates that members must:
1. concentrate on the integrity and viability of domestic capital markets over international markets.
2. maintain and improve their professional competence as well as that of other investment professionals.
3. reference consensus opinions whenever researching an investment option or acting on an investment decision.
Q. A company is operating below capacity. What is the most likely result when production rises?
1. The fixed cost per unit will decrease.
2. The variable cost per unit will increase.
3. The total cost per unit remains constant.
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Answer:
Mutual funds, hedge funds, exchange traded funds, pension funds, and unit investment trusts are all examples of professionally managed pooled funds.
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