Forbes: ЦБ хочет ввести тестирование инвесторов на знание сложных финансовых инструментов с 2021 года

Регулятор планировал начать тестирование неопытных инвесторов в апреле 2022 года.

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1. Which investment fund generally has the least amount of liquidity?

A. Hedge fund.
B. Closed-end fund.
C. Private equity fund.

2. Which of the following fee structures most likely has no impact on the volatility of a portfolio’s net returns?

A. Incentive fees only.
B. Management fees only.
C. Neither incentive fees nor management fees.

3. Fund X earns a –3% gross return for the year. The computed management fee is equal to a
base fee of 2% plus a 20% sharing of both positive and negative performance. The sharing
is based on return net of the base fee. What is Fund X’s total management fee for the year?

A. 1.0%.
B. 1.4%.
C. 2.0%.

4. Fund Y earns a gross return of 12% for the year, while the relevant benchmark earns 3%.
The computed management fee is equal to the higher of either a base fee of 0.4%, or base
plus a 20% sharing of positive performance, up to a maximum annual fee of 2.9%. The
sharing is based on active return. What is Fund Y’s total management fee for the year?

A. 2.2%.
B. 2.8%.
B. 2.9%.

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