IIA
IIA-CFSA · Question #187
IIA-CFSA Question #187: Real Exam Question with Answer & Explanation
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Question
Auditors should be aware that the investment objectives of a mutual fund are usually based on a risk profile outlined in the fund prospectus. For example, aggressive growth funds may invest in highly volatile stock issues and a money market fund may invest in lo -risk money market instruments. Other funds have investment objectives based on the type or location of companies they invest in, such as:
Options
- AFunds that invest only in non-profit organizations
- BFunds that invest only in environmentally conscious companies
- CFunds that invest only in U.S. government organizations
- DNone of these
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