$1.$

Question $1$

What is an AMC?

$1$ point

A financial institution managing a closed$-$end fund

A vehicle created with the unique purpose to invest in funds

A financial institution managed by the closed$-$end fund

$2.$

Question $2$

Which among the following is a requirement for an AMC operating in a closed$-$end fund environment?

$1$ point

It must own $1\%$ of the funds in which it plans to invest.

It can create a joint venture and invest $50\%$ in the fund.

the AMC must own in every fund, which must be equal to $2\%$ of the fund

$3.$

Question $3$

Which of the following is correct?

$1$ point

If there is some capital that still has to be collected from the investors, the collection can be done in the extra time of the closed$-$end fund.

In the extra time of a closed$-$end fund, the PEI can undertake only one new investment.

After the end of the closed$-$end fund, the maximum extra$-$time allowed is three years.

$4.$

Question $4$

What is a VCF$?$

$1$ point

An Anglo$-$Saxon instrument investing in any kind of PE$.$

An instrument operating in the US$,$ investing in any kind of PE$.$

A US instrument investing in venture capital.

$5.$

Question $5$

What is true about remuneration in a SBIC?

$1$ point

Losses are borne by the public admin twice as much as the other shareholders.

Both groups of shareholders receive management fees.

Profits and losses are equally shared between the two groups of shareholders.

$6.$

Question $6$

What is a trust?

$1$ point

A kind of VCF$,$ it only operates in the UK$.$

A vehicle operating in the UK owning the investors' assets.

A vehicle used to invest in PE in which the management company is played by a trustee.

$7.$

Question $7$

What is participation exemption?

$1$ point

A fiscal benefit by which the PEI is exempted from participating in the VBC

A fiscal benefit granted to the VBC

A fiscal benefit granted to PEIs

$8.$

Question $8$

What is true about private debt funds?

$1$ point

In this case the same vehicles usually investing in private equity decide to invest in private debts rather than in PE$.$

These funds can invest in public companies, whose amount of debt is very high.

These vehicles must operate together with the banking system.

$9.$

Question $9$

Suppose there is a fund with the following features:

Fund Global IRR: $350\%$

Hurdle Rate: $8\%$

Fund Carried interest: $106\%$

Final Amount: $1,929$

Find the remunerations for the managers

$($Please round the calculation second digit$)$

$1$ point

$454\mathrm{.}39$

$584\mathrm{.}21$

$462\mathrm{.}62$

$10.$

Question $10$

Whom are the fiscal incentives to startup considered relevant to$?$

$1$ point

The vehicles investing in PE

The investors investing in PE

The venture$-$backed company