CAIA 2026 Level I Funds of Funds Fund Performance Free Quiz 1

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CAIA 2026 Level I Funds of Funds Fund Performance Free Quiz 1

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CAIA 2026 Level I Funds of Funds Fund Performance Free Quiz 1

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

General10 MCQs

1. What is fund performance in a fund of funds?

A. Fund performance is only the total returnB. Fund performance is measured by total return and risk-adjusted metrics like Sharpe ratioC. Fund performance is not importantD. Fund performance is the same as the FoF manager's fee

2. What performance metrics are used for a fund of funds?

A. Only total return is usedB. Only the Sharpe ratio is usedC. Performance metrics include return, alpha, beta, Sharpe, Sortino, drawdown, and volatilityD. Drawdown is not a performance metric

3. What is alpha in fund performance?

A. Alpha measures the value added by the FoF manager beyond market returnB. Alpha is the same as betaC. Alpha is total returnD. Alpha is not used

4. How is a fund of funds performance benchmarked?

A. Benchmarking is not neededB. All FoFs use the same benchmarkC. A custom benchmark is not possibleD. Performance should be benchmarked to a relevant FoF index or custom benchmark

5. What is performance attribution in a fund of funds?

A. Performance attribution is not usedB. Performance attribution decomposes returns into manager selection, strategy allocation, and market effectsC. Attribution is only for equity fundsD. Attribution is optional

General10 MCQs

6. How are gross and net returns reported in fund of funds?

A. Only gross returns are reportedB. Only net returns are reportedC. Both gross and net returns are reported to show the impact of feesD. Fees do not affect performance

7. What does performance due diligence for a FoF involve?

A. Performance due diligence includes track record analysis, consistency, and performance across market cyclesB. Performance due diligence only looks at the last yearC. Performance due diligence is not neededD. Performance is always consistent

8. Why is risk-adjusted performance important?

A. Risk-adjusted performance is not importantB. Only the Sharpe ratio is usedC. Sortino ratio is not usedD. Risk-adjusted metrics like Sharpe and Sortino are essential for evaluating FoF performance

9. What is the CAIA perspective on fund performance?

A. CAIA does not cover fund performanceB. CAIA emphasises the importance of performance measurement in FoF analysisC. Fund performance is not part of CAIAD. CAIA only covers private equity performance

10. What is the role of peer group comparisons in performance?

A. Peer group comparisons are not usedB. Peer group comparisons are only for underlying fundsC. Peer group comparisons help rank a FoF against its peersD. Peer group comparisons are optional

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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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