answers_chance_1_eleum - Investment Analysis and Portfolio...

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1 Investment Analysis and Portfolio Management 3019B & 6005V 2004, Chance 1 Answers True / False 1. False Price can deviate from NAV. BKM chapter 4, pp101 2. True BKM chapter 4, pp103 3. False. All day. BKM chapter 4, pp112 4. False. They are mainly intended to pay brokers. BKM chapter 4, pp108 5. False. Higher, 5% as opposed to 2%. BKM chapter 4, pp108 6. False Only market, SMB and HML. Otten & Bams (2002) pp83 7. False Otten & Bams (2002) pp97 8. True Otten & Bams (2002) pp91 9. False They are not, unlike mutual funds. Fung & Hsieh, page 316. 10. False They have to report positions larger than 5%. Fung & Hsieh, page 317. 11. True Fung & Hsieh, page 317. 12. False Perform best in volatile markets. Fung & Hsieh, page 325. 13. True Fung & Hsieh, page 327. 14. True Tremont Partners report, page 4. 15. False No incentive fees. Tremont Partners report, page 23. 16. False Most likely returns go down. Tremont Partners report, page 27.
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