based on South African Pension fund Act and relevant circulars

QUESTION 1 1. Which of the following statements relating to a fund's investment policy statement is correct? a. The profitability of the assets of a fund is a key factor that should inform its investment policy statement. b. A fund should reflect in its investment policy statement how its general investment philosophy and objectives seek to ensure the sustainability of its assets. c. A fund's investment policy statement should include how the fund intends to monitor and evaluate the ongoing sustainability of the asset which it owns and which it is intending to acquire, including the extent to which BEE factors have been considered by the fund. d. All of the above. e. None of the above QUESTION 2 1. Which of the following statements relating to the distribution of a death benefit payable from a retirement benefit is correct? a. The income Tax Act provides for the manner in which a benefit payable on the death of a member of a retirement fund must be calculated. b. Section 37C of the Pension Funds Act is applicable to the death benefit of a paid-up member. c. If the registered rules of a fund are in confict with section 37C of the Pension Funds Act, the registered rules will prevail. d. A death benefit must be paid to a deceased member's dependants within 24 months of the date of the member's death. e. None of the above. QUESTION 3 1. Which of the following statements is correct? a. A defined benefit pension fund must have a default investment portfolio. b. A default investment portiolio must comply with Regulation 28 of the Pension Funds Act. c. The details of the default investment portfolio must be communicated to the members' employers and financial advisers. d. The default investment portfolio must be less expensive than all the other investment portfolios available to members. e. None of the above