Chapter 15- FUND MONITORING, REPORTING AND EXIT

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What is the frequency of reports submission for Category III AIFs on leverage undertaken? *

1 point

Quarterly

Half-yearly

Annually

Biannually

What should the placement memorandum contain according to SEBI regulations? *

1 point

General information about the AIF

All prescribed information about the AIF and the scheme

Financial information of the AIF

Operational details of the AIF

What is the frequency of reporting changes to the Private Placement Memorandum (PPM) in fund reporting? *

1 point

Quarterly

Annually

Biannually

Monthly

What type of details should fund reporting cover regarding leverage for Category III AIFs? *

1 point

Overall level of leverage employed

Breakdown of leverage sources

Investor details

None of the above

In what situation would an exit option NOT be provided to investors? *

1 point

Change of control in the AIF

Change in the fund's investment objectives

Change in the sponsor

None of the above

In what scenario would a buyback option NOT be feasible for an AIF? *

1 point

When the investee company is publicly listed

When the AIF has a majority shareholding

When the buyback price is lower than the IPO price

When the promoters lack resources

What is the primary consideration for AIFs in determining their exit strategy from a portfolio company? *

1 point

Maximizing investor returns

Minimizing regulatory hurdles

Ensuring prompt liquidation

Prioritizing sponsor interests

What constitutes a 'Liquidation Scheme' in the context of AIF winding up? *

1 point

A plan to dissolve the AIF

A scheme to extend the liquidation period

A process to distribute assets in-specie

A mechanism to sell unsold assets

How are dissenting investors of the Original Scheme handled in the liquidation process? *

1 point

Offered premium exit

Offered in-specie distribution

Offered pro-rata exit

Offered bid arrangement

What is the valuation basis if the AIF fails to arrange bids for at least 25% of unliquidated investments? *

1 point

NAV

One Rupee

Original purchase price

Market value

Who is responsible for compliance with the procedure of in-specie distribution? *

1 point

Investors

Investment Manager

SEBI

Performance Benchmarking Agencies

What role does the Trustee play in in-specie distribution compliance? *

1 point

Advisory

Operational

Compliance oversight

Investor communication

Why should investors be goaded to take action in time when needed? *

1 point

To prevent further deterioration of the fund's outcome

To minimize communication efforts

To maximize short-term returns

To reduce the need for ongoing monitoring

What is the focus of Principle 4 of the Stewardship Code regarding AIFs' intervention in their investee companies? *

1 point

Identifying circumstances for active intervention and the manner of such intervention

Avoiding intervention to maintain a passive stance

Blindly following management decisions

Collaborating with investee companies without clear policies

What information should AIFs provide if there is a material breach of the placement memorandum or agreement with investors? *

1 point

Disclosure of the breach

No disclosure is required

Disclosure of the breach only if investors request it

Only internal documentation of the breach

What is the minimum corpus required for each scheme of an AIF? *

1 point

INR 10 crore

INR 15 crore

INR 20 crore

INR 25 crore

How long should the Manager or Sponsor maintain records as per Regulation 27? *

1 point

2 years

3 years

4 years

5 years

How long can the fund tenure of a close-ended AIF be extended? *

1 point

Up to 1 year

Up to 2 years

Up to 3 years

Up to 4 years

In fund reporting, what is the significance of providing sector-specific discussions? *

1 point

To analyze market trends

To identify potential investment opportunities

To assess economic stability

To evaluate industry performance

Which of the following is NOT a component typically covered in fund reporting templates? *

1 point

Leverage undertaken

Future outlook and deal pipeline

Portfolio company names

Economy-specific details

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