Smart Investor Quiz : Mutual Fund Edition

Q.1: Agar ek Equity Mutual Fund ka Tracking Error bohot high hai, toh iska sabse logical matlab kya hai?

A) Fund manager ne benchmark se kaafi alag active bets liye hain. B) Fund house ke expenses bohot zyada hain. C) Fund sirf Blue-chip stocks mein invest kar raha hai. D) Fund manager index ko copy kar raha hai.

Q.2: Total Expense Ratio (TER) kaise deduct hota hai?

A) Saal mein ek baar bank se. B) Daily basis par NAV se proportionally. C) Profit hone par hi. D) Redemption ke waqt.

Q.3: 'Alpha' zero hone ka technical matlab kya hai?

A) Fund ne loss kiya hai. B) Fund manager ne benchmark ke barabar hi return generate kiya hai. C) Fund band hone wala hai. D) Expense ratio bohot high hai.

Q.4: Information Ratio (IR) kya batata hai?

A) Fund manager kitne consistent tarike se benchmark ko beat kar raha hai. B) Market ki total information. C) Fund house ki history. D) News ka asar fund par.

Q.5: Standard Deviation mutual fund mein kya darshata hai?

A) Fund manager ki stock picking ability. B) Market ke comparison mein fund ki sensitivity. C) Returns ki volatility apne mean (average) value se kitni vary karti hai. D) Fund ka total potential loss.

Q.6: Gilt Funds mein sabse bada risk kaunsa hota hai?

A) Credit Risk (Default Risk) B) Interest Rate Risk C) Liquidity Risk D) Business Risk

Q.7: Ek International Mutual Fund (Feeder Fund) mein 'Currency Risk' kab sabse zyada hota hai?

A) Jab Indian Rupee (INR) Dollar ($) ke muqable mazboot (Appreciate) hota hai. B) Jab INR Dollar ke muqable girta (Depreciate) hai. C) Jab dono currencies stable rehti hain. D) Jab US Fed interest rates kam karta hai.

Q.8: 'Rebalancing' ka main logic kya hai?

A) Profit ko wapas reinvest karna. B) Portfolio ke original risk profile (Asset Allocation) ko maintain karna. C) Hamesha equity mein 100% rehna. D) Tax bachana.

Q.9: Ek Fund ka Beta 1.5 hai. Agar Nifty 10% girta hai, toh expected hai ki fund ki NAV kitni giregi?

A) 10% B) 5% C) 15% D) 1.5%

Q.10: Floating Rate Funds kab faydemand hote hain?

A) Jab interest rates gir rahe hon. B) Jab interest rates badh rahe hon. C) Jab market stagnant ho. D) Inka interest rate se lena-dena nahi hota.

Q.11: Dividend Reinvestment option mein tax kab lagta hai?

A) Sirf redemption ke waqt. B) Har baar jab dividend declare aur reinvest hota hai. C) 3 saal baad. D) Kabhi nahi lagta.

Q.12: Inme se kaunsa 'Hybrid Fund' arbitrage opportunities aur net equity exposure (hedged) ko mix karta hai?

A) Aggressive Hybrid Fund. B) Equity Savings Fund. C) Multi Asset Allocation Fund. D) Balanced Advantage Fund.

Q.13: Yield to Maturity (YTM) ek debt fund ke baare mein kya batata hai?

A) Pichle 1 saal ka return. B) Fund manager ka experience. C) Agar saari holdings maturity tak rakhi jayein, toh expected gross return. D) Exit load ki percentage.

Q.14: 'Exit Load' ka accounting treatment kya hota hai? Ye paisa kahan jata hai?

A) Fund house (AMC) ke profit mein judta hai. B) Distributor ko commission ke roop mein diya jata hai. C) Wapas scheme ke 'Corpus' (AUM) mein add kiya jata hai (except GST). D) Government ko Securities Transaction Tax (STT) ke roop mein jata hai.

Q.15: Inme se kaunsa ratio 'Risk-Adjusted Returns' measure karne ke liye sirf 'Downside Risk' ko consider karta hai?

A) Sharpe Ratio B) Sortino Ratio C) Information Ratio D) Treynor Ratio

Q.16: 'Sideways Market' mein kaunsi strategy sabse zyada 'Underperform' kar sakti hai?

A) SIP B) Growth-focused Active Management (with high momentum stocks) C) Arbitrage Funds D) Liquid Funds

Q.17: Inverted Yield Curve ke waqt kaunse funds sabse risky ho sakte hain?

A) Liquid Funds B) Overnight Funds C) Long Duration Debt Funds D) Arbitrage Funds

Q.18: Concentration Risk ka kya matlab hai?

A) Bohot saare schemes mein invest karna. B) Sirf kuch hi stocks ya sectors mein heavy investment karna. C) Market ko dhyan se monitor karna. D) SIP ko pause kar dena.

Q.19: Arbitrage Funds par India mein taxation kaise lagta hai?

A) Debt Funds ki tarah. B) Slab rate ke hisaab se. C) Equity Funds ki tarah. D) Ye tax-free hote hain.

Q.20: Portfolio Turnover Ratio (PTR) high hone ka asar kya hota hai?

A) Expense ratio kam ho jata hai. B) Transaction costs badh sakti hain. C) Returns hamesha badhte hain. D) Fund manager change ho jata hai.