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Test your Fund Accounting Knowledge...

Page 1 Questions

This test is from the Quickstep online training module on Introduction to Fund Accounting . At the end of the test you will be given your score. Full test results along with correct answers will be emailed to you.
Personal Details *This question is required.Please enter your first name, last name, company name and email
1. Which of the following best summarises a NAV calculation? *This question is required.
2. Which of the following statements is most accurate? *This question is required.
3. A fund buys Intel equities, trade date 1st February, settlement date 4th February. Due to an error with settlement instructions the trade actually settles on 5th February. The fund calculates NAV daily. In which NAV is the Intel holding first reflected? *This question is required.
4. A fund holds Intel equities and Intel declares a dividend on 1st March. The ex-date is 15th March, the record date is 17th March and the dividend is received on 22nd March. The fund calculates NAV daily. In which NAV is the dividend income first recognised? *This question is required.
5. A fund places $100,000 on deposit on 1st April. It will receive back $100,030, principal plus interest, on 1st May. The fund calculates NAV daily. How much interest income is recognised in the NAV calculated as at close of business on 15th April? *This question is required.
6. Which of the following statements is most accurate? Management and administration expenses are *This question is required.
7. A fund expects the audit fee in respect of the calendar year 2014 to be $36,500. Which of the following is true? *This question is required.
8. Which of the following statements is most accurate? *This question is required.