标题: Managing Institutional Investor Portfolios －LO [打印本页]
作者: cfaedu 时间: 2008-9-17 13:49 标题: [2008] Session 5－Reading 21: Managing Institutional Investor Portfolios －LO
CFA Institute Area 3-5, 7, 12, 14-18: Portfolio Management
Session 5: Portfolio Management for Institutional Investors
Reading 21: Managing Institutional Investor Portfolios
LOS h: Distinguish among various types of foundations, with respect to their description, purpose, source of funds, and annual spending requirements.
作者: cfaedu 时间: 2008-9-17 13:50
Which of the following statements regarding foundations is TRUE?
| A) | Grants from company-sponsored foundations must be made without regard to the sponsoring companys business interest. |
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| B) | An operating foundation is generally funded by the organization it is intended to support. |
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| C) | A community foundation typically receives its funding from an individual. |
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D) | Independent foundations receive their funds from an individual, family, or group. |
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Answer and Explanation
Company executives usually dominate the board of trustees for a company-sponsored foundation, which may use grants to further corporate interest. A fund owned and funded by the organization it is intended to support is called an endowment, not a foundation. Community foundations typically receive their funding from multiple, not single, sources.
作者: cfaedu 时间: 2008-9-17 13:50
Which of the following types of foundations do NOT have a spending requirement?
Answer and Explanation
Independent (or private) and company-sponsored foundations must spend five percent of their assets annually toward non-operating expenses to maintain their tax-exempt status. Operating foundations must use 85% of interest and dividend income to conduct the institutions own program.
作者: cfaedu 时间: 2008-9-17 13:51
Which of the following statements regarding foundations is TRUE?
| A) | Company-sponsored foundations receive their funding from many sources, including the general public. |
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| B) | An operating foundation is generally funded to support a variety of social causes over time. |
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| C) | A community foundation is dedicated solely to support a specific organization or some on-going research initiative. |
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D) | Independent foundations provide grants to charities, educational institutions, and social organizations. |
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Answer and Explanation
Company-sponsored foundations receive their funding from the sponsoring company. An operating foundation is funded solely to support a specific organization or some on-going research initiative. A community foundation typically funds social, educational, or religious initiatives.
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