CAIA 2026 Level I Funds of Funds Fund Fees Free Quiz 2

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CAIA 2026 Level I Funds of Funds Fund Fees Free Quiz 2

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CAIA 2026 Level I Funds of Funds Fund Fees Free Quiz 2

Practice CAIA 2026 Level I Funds of Funds MCQs from Fund Fees. Get instant results with Explanation.

General10 MCQs

1. What is the total expense ratio (TER) in a fund of funds?

A. The TER includes all fees and expenses, providing a comprehensive cost measureB. The TER only includes management feesC. The TER is not usedD. The TER is the same as the performance fee

2. What does fee due diligence involve?

A. Due diligence on fees is not neededB. Only the FoF fees matterC. Underlying fund fees are not reviewedD. Due diligence should review both FoF and underlying fund fees and compare them to peers

3. What are clawback provisions in fund fees?

A. Clawback provisions are not usedB. Clawback provisions allow recovery of performance fees paid on later-reversed profitsC. Clawback provisions are optionalD. Clawback provisions only apply to management fees

4. How do fees influence the decision to invest in a FoF?

A. Fees are not a factor in investment decisionsB. All FoFs have the same feesC. Fees are a significant factor in the investment decision and should be weighed against benefitsD. Fees are only a concern for small investors

5. What is the impact of performance fees on realised gains?

A. Performance fees based on realised gains can affect manager behaviour and should be consideredB. Realised gains are not relevantC. All performance fees are on unrealised gainsD. Fee structure does not affect behaviour

General10 MCQs

6. What are fee offsets in fund of funds?

A. Fee offsets are not usedB. Fee offsets only apply to performance feesC. Fee offsets increase total feesD. Fee offsets credit management fees against performance fees, reducing overall cost

7. What is the importance of fee disclosure?

A. Fee disclosure is optionalB. Fees should be disclosed clearly in offering documents and reports for transparencyC. Disclosure is not neededD. Only management fees are disclosed

8. What is the difference between fees on committed vs. invested capital?

A. Fees are always on invested capitalB. Fees are always on committed capitalC. Fees can be based on committed or invested capital, affecting timing and amountD. Fee base is not important

9. What is the role of independent fee audits?

A. Independent fee audits help verify correct fee calculation and are a best practiceB. Fee audits are not neededC. Only large investors use fee auditsD. Fee audits are optional

10. How can fee structures align interests?

A. Fee structures do not affect behaviourB. All fee structures are alignedC. Short-term risk-taking is not a concernD. Fee structures should be designed to align long-term interests and discourage short-term risks

📋 CAIA - Test Online Practice Quizzes

CAIA

Conducting Body: CAIA Association

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 200 MCQs):

Subject breakdown not available.

Merit Formula: -

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