The latest simulation test questions of securities investment funds in 2007 (1)

1. Dividend discount models can be divided into many types according to different assumptions about future dividend payment. In the following statement, () does not belong to the dividend discount model.

1: A: present value growth model [right]?

2.b: Fixed growth model [error]?

3.c. Three-stage dividend discount model [error]?

4.d: Random dividend discount model [error]?

2. The following statement about the office of a fund management company is correct ().

1: A: Offices are not allowed to engage in business activities [right]?

2.b: The office is authorized by the company to engage in business activities within the company's business scope [error]?

3.c: The office can engage in business activities within the company's business scope with the approval of China Securities Regulatory Commission [error]?

4.d: The legal responsibility of the office is borne by the company [right]?

3. The complete expectation theory of term structure of interest rate holds that ().

1: Liquidity premium is compensation for investors to bear additional liquidity risks [wrong]?

2. Forward interest rate is an unbiased estimate of future short-term interest rate [right]?

3. Will the market's expectation of the future interest rate change direction be reflected in the slope of the interest rate curve [right]?

4. When the slope of the interest rate curve is negative, the market expects the short-term interest rate to fall [right]?

4. Regarding the internal control of the fund custodian, which of the following statements is wrong ().

1: The fund custodian must strictly separate its own assets from the fund assets [error]?

2. The fund custodian should open an account on behalf of the fund in his own name [right]?

3. The fund custodian should implement a strict post separation system [error]?

4. The fund custodian should establish an accounting review system [error]?

5. Suppose the Shanghai A-share index rose 10% last week and fell 10% this week. The following statement is correct ().

1: A: Two-week cumulative yield is zero [error]?

2.b: cumulative increase in two weeks 1% [wrong]?

3.c: cumulative weekly decline 1%[ right]?

4.d: Two-week cumulative rate of return cannot be calculated [Error]?

6. Securities investment fund assets are divided into () according to their different forms.

1: Cash assets [right]?

2. Securities assets [rights]?

3. Other assets [rights]?

4. Fixed assets [wrong]?

7. The goal of the fund custodian's internal control is ().

1: guarantee the preservation and appreciation of the fund [wrong]?

2. Ensure the safety and integrity of the entrusted assets [rights]?

3. safeguard the rights and interests of the obligee?

4. Ensure the safe, effective and steady operation of the fund custody business [Yes]?

8. According to the provisions of the Securities Investment Fund Law, the conversion of closed-end funds into open-end funds shall be reviewed at the fund share holders' meeting, which shall be approved by more than () of the voting rights held by the fund share holders attending the meeting.

1: A:30% [wrong]?

2.b: 50% [wrong]?

3: C: 1/3 [wrong]?

4 :D:2/3[ right]?

9. According to the provisions of the Securities Investment Fund Law, the conditions for the establishment of closed-end funds include ().

1: The total fund share exceeds the approved minimum raised share [error]?

2. The total fund share reaches more than 60% of the approved scale [wrong]?

3. The total fund share reaches more than 80% of the approved scale [right]?

4. The number of fund share holders is above 10000 [error]?

10. If the securities market is an effective market, then the characteristic of this market is ().

1: a: future events can be accurately predicted [wrong]?

2.b: Price can reflect all relevant information [right]?

3.c: The price of securities changes [is wrong] due to indistinguishable reasons?

4.d: the price does not fluctuate [wrong]?

1 1. When predicting that the stock market will enter a boom period, fund managers usually ().

1: A: Reduce the cash holding ratio of the fund [right]?

2.b: improve the beta value of the fund portfolio [right]?

3.c: improve the beta value of the fund portfolio [right]?

4.d: Lowering the beta value of the fund portfolio [error]?

12. Securities investment funds in developed countries include ().

1: A: equity funds [right]?

2.b: bond fund [right]?

3.c: hybrid fund [right]?

4.d: money market fund [right]?

13. Regarding the variance of portfolio, the correct one in the following description is ().

1: the variance of the portfolio is equal to the weighted average of the variance of the securities in the portfolio. [wrong]?

2. Variance is equal to the weighted average of variance of each security in the portfolio. [wrong]?

3. The variance of portfolio is related to the variance and weight of each security in portfolio. [Right]?

4. The variance of portfolio is related to the correlation coefficient between securities in portfolio. [Right]?

14. Tactical asset allocation is compared with strategic allocation ().

1: Different understandings and assumptions about investors' risk tolerance and risk preference [right]?

2. Is the understanding and assumption of investors' risk tolerance and risk preference consistent [wrong]?

3. Are there the same [wrong] requirements for asset managers' ability to grasp changes in asset investment rights?

4. There are different requirements for asset managers' ability to grasp the changes in asset investment income [right]?

15. According to the provisions of the Securities Investment Fund Law, the responsibility of "reviewing and examining the net asset value of the fund and the net asset value of the unit fund" should be undertaken by ().

1: fund manager [wrong]?

2. Is the fund registrant [wrong]?

3. Fund custodian [right]?

4. Is the fund agent [wrong]?

16. The accounting measurement attribute of securities investment funds is ().

1: weighted cost [wrong]?

2. Non-historical cost [error]?

3. Fair value [right]?

4. What is the recent transaction cost?

17. The following statement about closed-end fund raising and trading is correct ().

1: A: closed-end fund raising is a one-off [right]?

2.b: Generally, securities companies act as underwriting agencies [right]?

3.c: Create an exchange listing [right]?

4.d: Entrusted transaction through securities companies [right]?

18. Other things being equal, when the degree of diversification of the fund increases, the Tereno index of the fund will be ().

1: A: bigger [wrong]?

2.b: smaller [wrong]?

3.c: unchanged [right]?

4.d: Unable to judge [error]?

19. Internal control must be revised or improved in time with the adjustment of relevant laws and regulations, changes in external environment such as business policy and business philosophy, which embodies the principle of formulating internal control system ().

1: A: Legal compliance [error]?

2.b: comprehensive [error]?

3.c: caution [mistake]?

4.d: timeliness [right]?

20. One of the important signs of a positive stock investment strategy is ().

1: indexed investment [wrong]?

2. Holding [wrong] for a long time?

3. timing [right]?

4. None of the above is [wrong]

2 1. The expected rate of return of the portfolio is equal to the weighted average of the expected rate of return of each security in the portfolio, in which the description of the weight is correct ().

1: The weight used is the expected rate of return of each security in the portfolio [error]?

2. The weight used is the probability distribution of future returns of securities in the portfolio [wrong]?

3. The weight used is the investment ratio of each security in the portfolio [right]?

4. The weights used can be positive or negative [right]?

22. The end date of the reporting period of fund financial information in the listing announcement shall not exceed () days from the listing trading day.

1: 15 [wrong]?

2:30[ right]?

3: 60 [wrong]?

4: 90 [wrong]?

23. Investment risk control measures

The internal risk control system of the fund company includes ()

1: A: invest in accordance with the prescribed investment ratio [right]?

2.b: Adhere to the principle of independence [rights]?

3.c: Adhere to the centralized trading system [right]?

4.d: Internal information control system [right]?

24. The risk-adjusted rate of return indicators include ().

1: A: Sharp index [right]?

2.b: Zhan Sen index [right]?

3.c: Trino index [right]?

4.d: Information ratio [right]?

25. The capital market environment factors that affect the risk-return status of various assets and their correlation include ().

1: inflation [right]?

2. Interest rate changes [right]?

3. Economic cycle fluctuation [right]?

4. Supervision [Right]?

26. The release date of Shenzhen Component Index Fund is ().

1:May 8, 2000 [wrong]?

2: June 9, 2000 [wrong]?

3: June 30, 2000 [wrong]?

4: July 3, 2000 [right]?

27. According to the provisions of the Securities Investment Fund Law, the prospectus for closed-end funds shall include the following contents ().

1: Name and date of approval of fund raising application [right]?

2. Date and term [right] of the fund share offering?

3. How to sell fund shares and selling institutions [right]?

4. What are the main contents of the fund contract and fund custody agreement?

28. Fund valuation cannot be suspended under the following circumstances ().

1: legal holidays [wrong]?

2. Is the stock exchange closed?

3. Due to force majeure, the fund manager and custodian cannot accurately evaluate the value of fund assets [error]?

4. The fund publishes annual report [right]?

29. The following statement about closed-end funds and open-end funds is correct ().

1: A: Closed-end funds generally have a fixed duration [right]?

2.b: Open-end funds generally have no fixed duration [right]?

3.c: There are fewer closed-end fund investors [wrong]?

4.d: Are there many investors in open-end funds [wrong]?

30. In our country, (a) the income obtained from the securities market, including the price difference income from buying and selling stocks and bonds, dividends and bonus income from stocks, interest income from bonds and other income, shall not be punished for the time being.

1: non-bank financial institutions [wrong]?

2. Is the enterprise [wrong]?

3. Fund [right]?

4. The fund company [wrong]?

3 1. Suppose that the first rate of return of a fund is 5% and the second rate of return is 5%, and its annual geometric average rate of return ().

1: A: less than 5%[ right]?

2: B: equal to 5% [wrong]?

3.c: More than 5% [wrong]?

4.d: Unable to judge [error]?

32. Resolutions formed by the general meeting of share holders of securities investment funds shall be submitted to relevant institutions for filing or approval in accordance with regulations. This institution is ().

1: A: China Securities Regulatory Commission [right]?

2.b: Holder's meeting [error]?

3.c: the main sponsor [wrong]?

4.d: fund management company [wrong]?

33. The following statement about growth, income and balanced funds is correct ().

1: A: growth funds has high risks and high returns [right]?

2.b: Income-based funds have low risks and low returns [right]?

3.c: The risk-return ratio of balanced funds is between growth funds and income funds [right]?

4.d: growth funds's income may be lower than that of income-based funds [right]?

34. The release date of the Shanghai Stock Exchange Fund Index is ().

1:May 8, 2000 [wrong]?

2: June 9, 2000 [Right]?

3: June 30, 2000 [wrong]?

4: July 3, 2000 [wrong]?

35. The main basis for the division of active funds and volatile funds is ().

1: A: according to the organizational form of the fund [error]?

2.b: according to the different investment objects of the fund [wrong]?

3.c: According to the different investment objectives of the fund [wrong]?

4.d: Different according to the investment philosophy of the fund [right]?

36. The factors that affect the transaction price of closed-end funds are ().

1: fund name [error]?

2. Interest rate changes [right]?

3. Net asset value of the fund [right]?

4. Market supply and demand [right]?

37. According to the relevant regulations, the formalism securities investment fund shall publish the net asset value of the fund at ().

1: Every trading day [right]?

2. Every week [wrong]?

3. Every month [wrong]?

4. Every quarter [wrong]?

38. The fund management company must take () as the accounting entity.

1: A: managing funds as a whole [wrong]?

2.b: Every fund managed [right]?

3.c: Is the investment of listed companies [wrong]?

4.d: The company's own assets [wrong]?

39. The following conforms to the basic connotation of securities investment funds ().

1: A: Raise funds from investors by issuing fund shares [right]?

2.b: There are prescribed investment portfolios and investment restrictions [right]?

3.c: Investment operation and property custody are separated from each other [right]?

4.d: Fund assets are invested in the specified investment direction [right]?

40. The market timing selector tries to maintain the portfolio ().

1:a: fixed beta value [error]?

2.b: beta value change [right]?

3.c: alpha value change [error]?

4: D: Beta value is zero [wrong]

4 1. From the perspective of asset allocation, the constant mixed strategy is suitable for investors with long-term planning level and satisfied with strategic asset allocation, and usually adjusts the asset allocation ratio when the market situation changes.

[wrong]?

42. The tax status of bond investors will affect their after-tax rate of return, including income tax and capital gains tax.

[Right]?

43. At present, China's funds directly open a clearing reserve account with China Securities Depository and Clearing Corporation for capital settlement.

[wrong]?

44. Past performance does not represent future performance, so it is useless to measure the performance of the fund afterwards.

[Right]?

45. The post separation system of fund management companies includes the separation of investment and transaction, transaction and liquidation, and fund accounting and company accounting.

[Right]?

46. Tracking error is an index to measure the management performance of asset managers.

[Right]?

47. The supervision of securities investment funds means that the regulatory authorities use legal, economic and necessary administrative means to supervise and manage the behavior of fund participants.

[Right]?

48. The fund custody fee is directly charged by the custodian to investors when they purchase the fund.

[wrong]?

49. Portfolio management is to try to combine a group of securities with the highest expected rate of return in order to optimize the portfolio.

[wrong]?

50. Income tax shall be levied on the interest on savings deposits and the income from the price difference between buying and selling stocks obtained by investors from the allocation of funds.

[wrong]?

5 1. The degree of price agreement between buyers and sellers can be confirmed by the transaction volume. The greater the transaction volume, the greater the degree of coincidence; If the transaction volume is small, the recognition will be small.

[Right]?

52. The staff of fund management companies and fund consignment agencies that provide investors with professional fund investment consulting services shall have corresponding investment consulting and fund employment qualifications.

[wrong]?

53. According to the regulations, the change of fund manager must be approved by the holders' meeting, but the change of fund custodian need not be approved by the holders' meeting.

[wrong]?

54. The model that reflects the equilibrium relationship between the expected rate of return and the total risk level of any portfolio is the stock market line.

[Right]?

55. At present, China's supervision over the fund business of commercial banks is only exercised by the China Securities Regulatory Commission.

[wrong]?

56. The theory of complete expectation holds that the term structure of interest rates depends entirely on the market's expectation of future spot interest rates.

[Right]?

57. The subscription amount of open-end funds in China is the net subscription amount.

[wrong]?

58. The main methods to determine the expected return of asset classes are historical data method and scenario comprehensive analysis method.

[Right]?

59. According to China's Securities Investment Fund Law, in the operation of investment funds, if the fund manager of the fund can't perform his duties according to the contract or agreement, then the regulatory authorities and investors have the right to cancel or establish the qualification of fund manager according to the prescribed procedures.

[Right]?

60. Matters that may have a significant impact on the rights and interests of fund holders or the transaction price of fund shares in the course of fund operation shall be reported and announced in a timely manner in accordance with relevant regulations.

[right]