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In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance? O the chief executive officer the trustee O the chief compliance officer O the ultimate designated person

In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance? O the chief executive officer the trustee O the chief compliance officer O the ultimate designated person

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance? the chief executive officer the trustee the chief compliance officer the ultimate designated person
Transcribed Image Text:In a mutual fund dealer, who is the person responsible for establishing and maintaining compliance policies and procedures as well as monitoring and assessing compliance? the chief executive officer the trustee the chief compliance officer the ultimate designated person
Sheldon is a 25 year old graphic designer. He has just started working and saves regularly. Apart from his regular salary he also earns extra money from freelancing after office hours and during weekends. His earnings from his freelance work are sufficient for meeting his living expenses. He saves the entire amount of his salary. He has heard about lifecycle funds but has come to you for additional information. Which of the following statement about lifecycle funds is TRUE? O The asset allocation of a lifecycle fund is set based on the age demographic of its unitholders and remains the same for the time frame of the lifecycle fund. O Investor income is the only basis for changing the asset allocation of a lifecycle mutual fund As Sheldon gets older, the life cycle asset allocation changes from more risky to less risky All lifecycle funds start with equal allocations to cash, fixed income and equities before being re-balanced.
Transcribed Image Text:Sheldon is a 25 year old graphic designer. He has just started working and saves regularly. Apart from his regular salary he also earns extra money from freelancing after office hours and during weekends. His earnings from his freelance work are sufficient for meeting his living expenses. He saves the entire amount of his salary. He has heard about lifecycle funds but has come to you for additional information. Which of the following statement about lifecycle funds is TRUE? O The asset allocation of a lifecycle fund is set based on the age demographic of its unitholders and remains the same for the time frame of the lifecycle fund. O Investor income is the only basis for changing the asset allocation of a lifecycle mutual fund As Sheldon gets older, the life cycle asset allocation changes from more risky to less risky All lifecycle funds start with equal allocations to cash, fixed income and equities before being re-balanced.
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