Unit ko samjho · NISM Series V-D
Scheme Related Information
7 questions is unit mein
Sawaal aur jawaab English mein hain, kyunki NISM ka exam paper bhi English mein hota hai.
Is unit mein kya hai
- An investor wants the detailed investment objective, asset-allocation approach and principal risks of a particular scheme. Which document is the most direct starting point?
- Which document generally contains common information about the mutual fund’s constitution, management and related legal matters, supplementing scheme-level information?
- What is the main purpose of a Key Information Memorandum (KIM)?
- A printed SID from an earlier date states an exit-load term. The AMC’s authenticated later addendum changes that term for investments made from a specified date. A purchase falls after that effective date. What should the distributor use? Assumptions: The later addendum is authenticated and legally applicable to the purchase described.
- A distributor compares two schemes using a current expense-ratio disclosure for Fund A and a two-year-old disclosure for Fund B. What is the best correction before presenting a cost comparison?
- An investor owns three funds with different names. Their latest portfolio disclosures show that the same five companies dominate all three portfolios. What can these disclosures reveal?
- A fictional SIF strategy document permits long and short equity positions and warns of leverage-related losses. A distributor’s summary describes it simply as “a safer mutual-fund alternative”. What information must be restored to make the summary useful? Assumptions: This is a fictional SIF mandate for a disclosure exercise. It asserts no statutory leverage limit or investor threshold.
Zaroori ideas
Practice bank se · 1
An investor wants the detailed investment objective, asset-allocation approach and principal risks of a particular scheme. Which document is the most direct starting point?
The SID sets out key details of the scheme, including its objective and risk-related information. The investor should also check relevant updates and accompanying documents. Remember: Read the scheme’s own terms before making a selection.
Hint Choose the document centred on the particular scheme.
V-D-020Practice bank se · 2
Which document generally contains common information about the mutual fund’s constitution, management and related legal matters, supplementing scheme-level information?
The SAI provides common information that accompanies the scheme documents. It should be read with the SID and relevant updates, rather than treated as a substitute for scheme-specific details. Remember: Use SID and SAI together to understand scheme and fund-level information.
Hint Distinguish information common to the fund from information specific to one scheme.
V-D-021Practice bank se · 3
What is the main purpose of a Key Information Memorandum (KIM)?
The KIM presents important scheme information in a shorter form. A material decision may still require the SID, SAI and applicable addenda. Remember: A concise disclosure helps orientation but should not be mistaken for the entire contract.
Hint The word “key” points to a summary of essential information.
V-D-022Practice bank se · 4
A printed SID from an earlier date states an exit-load term. The AMC’s authenticated later addendum changes that term for investments made from a specified date. A purchase falls after that effective date. What should the distributor use? Assumptions: The later addendum is authenticated and legally applicable to the purchase described.
An addendum updates the relevant part of the scheme information. Using the old statement alone would overlook the terms applicable to the stated purchase. Remember: Document version and effective date can change the answer.
Hint Check authenticity, effective date and applicability to the transaction.
V-D-023Practice bank se · 5
A distributor compares two schemes using a current expense-ratio disclosure for Fund A and a two-year-old disclosure for Fund B. What is the best correction before presenting a cost comparison?
The comparison should use current information for the actual plans under consideration. Mixing dates or plan types can attribute a cost difference to the wrong cause. Remember: Check both document freshness and the identity of the plan.
Hint A fair comparison needs consistent dates and comparable plan types.
V-D-024Practice bank se · 6
An investor owns three funds with different names. Their latest portfolio disclosures show that the same five companies dominate all three portfolios. What can these disclosures reveal?
Portfolio disclosures help identify repeated security and sector exposures across funds. Diversification should be assessed at the combined underlying portfolio level. Remember: Many funds can still create one concentrated economic exposure.
Hint Look through the fund wrappers to their underlying investments.
V-D-025Practice bank se · 7
A fictional SIF strategy document permits long and short equity positions and warns of leverage-related losses. A distributor’s summary describes it simply as “a safer mutual-fund alternative”. What information must be restored to make the summary useful? Assumptions: This is a fictional SIF mandate for a disclosure exercise. It asserts no statutory leverage limit or investor threshold.
The supplied document describes a strategy with exposures that require clear explanation. A useful summary must reflect those terms and assess the intended investor’s ability to understand and bear the risks. Remember: Explain a SIF using its actual strategy and terms rather than a reassuring label.
Hint The product label cannot substitute for its disclosed mandate and risks.
V-D-026