FIN 320 Quiz 8

FIN 320 Quiz 8
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FIN 320 Quiz 8
This quiz consist of 30 multiple choice questions. The first 15 questions cover the material in Chapter 19. The
second 15 questions cover the material in Chapter 20.
1. The four largest economies in the world in 2010 were ____________.
2. _____ has the highest market capitalization of listed corporations among developed markets.
3. It appears from empirical work that exchange rate risk ____________.
4. Inclusion of international equities in a U.S. investor's portfolio has historically produced
___________________.
5. Investor portfolios are notoriously overweighted in home-country stocks. This is commonly called
________.
6. In 2011, U.S. securities represented ______ of the world market for equities.
7. Which one of the following country risks includes the possibility of expropriation of assets, changes in
tax policy, and restrictions on foreign exchange transactions?
8. Which one of the following allows you to purchase the stock of a specific foreign company?
9. The major participants who directly purchase securities in the capital markets of other countries are
predominantly ____________.
10. Corruption is _________ risk variable.
11. In the PRS country composite risk ratings, a score of ______ represents the least risky and a
score of _____ represents the most risky.
12. Among emerging countries the largest equity market in 2011 was located in _____________.
13. Passive investors with well-diversified international portfolios _________.
14. Which emerging country had the highest percentage growth in market capitalization during the
2000-2011 period?
15. The __________ index is a widely used index of non-U.S. stocks.
16. Which of the following investment styles could be the best description of the Long Term
Capital Management market-neutral strategies?
17. Convertible arbitrage hedge funds _________.
18. Management fees for hedge funds typically range between _____ and _____.
19. You believe that the spread between the September S&P 500 future and the S&P 500 Index
is too large and will soon correct. This is an example of ______________.
20. As of 2012, hedge funds had approximately _____ under management.
21. Market-neutral hedge funds may experience considerable volatility. The source of volatile
returns is the use of _________.
22. Some argue that abnormally high returns of hedge funds are tainted by __________, which
arises when unsuccessful funds cease operations, leaving only successful ones.
23. A restriction under which investors cannot withdraw their funds for as long as several months
or years is called __________.

24. A __________ is a private investment pool open only to wealthy or institutional investors that
is exempt from SEC regulation and can therefore pursue more speculative policies than mutual funds.
25. ______ are private partnerships of a small number of wealthy investors, are often subject to
lock-up periods, and are allowed to pursue a wide range of investment activities.
26. The fastest-growing category of hedge funds is feeder funds. These funds invest in ________.
27. When a short-selling hedge fund advertises in a prospectus that it is a 120/20 fund, this
means that the fund may sell short up to ______ for every $100 in net assets and increase the long
position to __________ of net assets.
28. Which of the following are not managed investment companies?
29. An example of a neutral pure play is _______.
30. Hedge fund managers are compensated by ___________________.