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15 questions
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  • Q1
    A fund is a managed vehicle to invest rather than hold shares or other investments directly.
    FALSE
    TRUE
    30s
  • Q2
    Which of the following is a disadvantage in investing funds?
    Value of funds may depreciate depending on market performance
    Potentially higher returns arising from diversification and control of risks
    Cost effective access to overseas markets
    No administrative chores associated with holding of securities
    30s
  • Q3
    Who manages assets of the portfolio? It is the person or entity that decides what to buy and sell
    Banks
    Fund advisor
    Fund managers
    Fund administrator
    30s
  • Q4
    Who holds or manages and invest assets for the benefit of another?
    Trustee
    Custodian
    Administrator
    Broker
    30s
  • Q5
    The CUSTODIAN maintains the fund’s accounting books and records.
    FALSE
    TRUE
    30s
  • Q6
    Are stand-alone funds favorable to US investors?
    NO
    YES
    30s
  • Q7
    Shares are offered for sale continuously although there is no requirement is an Open-ended funds.
    TRUE
    FALSE
    30s
  • Q8
    An investment strategy where one or more securities are traded in relation to another
    Long-short
    Relative value
    Multi-strategy
    Event-driven
    30s
  • Q9
    Which of the following is NOT a characteristic of a hedge fund?
    Information provided to investors only
    Few qualified wealthy investors pool their money to buy assets
    Strictly regulated
    Absolute returns
    30s
  • Q10
    Which is the common fund jurisdiction in the US?
    Luxemburg
    Philippines
    Cayman Islands
    Delaware
    30s
  • Q11
    Controls that the service organization assumes, in the design of its service, will be implemented by user entities, and which, if necessary to achieve control objectives stated in the service organization’s description of its system, are identified in that description.
    ISAE 3402
    ISAE 3024
    ISAE 3420
    ISAE 3042
    30s
  • Q12
    FSLI that are performed by SDC
    Cash
    Investments
    All
    Equity
    30s
  • Q13
    Number of interim NAVs to be tested is dependent on the frequency of the NAV reporting.
    TRUE
    FALSE
    30s
  • Q14
    Account balances we typically NOT take comfort over through a SOC report
    Financial Statement Related Procedures
    Cash
    NAV Calculation
    ITGC
    30s
  • Q15
    I am ready to audit Hedge Funds
    YES 100%!!!
    Pass
    Not yet!
    30s

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