题目内容

An alternative investments fund that employs leverage and takes long and short positions in securities is most likely a:

A. Hedge fund.
B. Venture capital fund.
C. Leveraged buyout fund.

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All other things being equal, a decrease in expected yield volatility most likely increases the price of:

A putable bond.
B. A callable bond.
C. An option-free bond.

If an investor uses derivatives to make a long investment in commodities, the return earned on margin is best described as:

A. Price return.
B. Collateral yield.
Convenience yield.

High-water marks are typically used when calculating the incentive fee on hedge funds. They are most likely used by clients to:

Avoid prime brokerage fees.
B. Claw back the management fees.
C. Prevent paying twice for the same performance.

Christina Ng, a Level I CFA candidate, defaulted on a bank loan she obtained to pay for her Masters degree tuition when her wedding cost more than expected. A micro finance loan company lent her money

A. No
B. Yes,with regard to the first loan default
C. Yes,with regard to the second loan default

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