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Exam CIFC Topic 1 Question 5 Discussion

Actual exam question for IFSE Institute's CIFC exam
Question #: 5
Topic #: 1
At the close of business, Great Lengths Equity Fund had total assets of $135 million and total liabilities of $10 million. They had 11 million units outstanding. In addition, their current assets totalled $13 million and current liabilities were $3 million. Which of the following statements regarding Great Lengths Equity Fund's net asset value per unit (NAVPU) is correct?

Suggested Answer: D Vote an answer

Explanation
The net asset value per unit (NAVPU) of a mutual fund is calculated by dividing the net asset value (NAV) of the fund by the number of outstanding units. The NAV is the difference between the total assets and total liabilities of the fund. Current assets and current liabilities are not relevant for the NAVPU calculation.
Therefore, Great Lengths Equity Fund's NAVPU is ($135 million - $10 million) / 11 million = $11.36.
References: Canadian Investment Funds Course (CIFC) | IFSE Institute, Unit 8, Lesson 1

by Reg at Feb 28, 2024, 07:50 PM

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