Practice Question Set: Fund Management

Topic Progress:

Chapter 3. Fund Management Practice Question set contains 9 pages covering the following learning objectives:

* Differentiate among open-end mutual funds, closed-end mutual funds, and exchange-traded funds (ETFs).

* Identify and describe potential undesirable trading behaviors at mutual funds.

* Calculate the net asset value (NAV) of an open-end mutual fund.

* Explain the key differences between hedge funds and mutual funds.

* Calculate the return on a hedge fund investment and explain the incentive fee structure of a hedge fund including the terms hurdle rate, high-water mark, and clawback.

* Describe various hedge fund strategies, including long/short equity, dedicated short, distressed securities, merger arbitrage, convertible arbitrage, fixed income arbitrage, emerging markets, global macro, and managed futures, and identify the risks faced by hedge funds.

* Describe characteristics of mutual fund and hedge fund performance and explain the effect of measurement biases on performance measurement.

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