QUESTIONS 109 THROUGH 114 RELATE TO ALTERNATIVE INVESTMENTS.

110. A fund manager is compensated with a base management fee plus an incentive fee

proportional to the fund’s return above a benchmark. This best describes the fee structure

of:

A. a hedge fund.

B. a mutual fund.

C. an exchange traded fund.

By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-

registered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The

following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting

access by anyone other than currently-registered CFA candidates; copying, posting to any website, emailing,

distributing and/or reprinting the mock exam for any purpose.