QUESTION 18

Consider a bank's statement of financial performance.

Which of the following statements is NOT correct?

	A.	Non-interest expenses are usually larger than non-interest income.
	B.	The building up of lending provisions lowers profit.
	C.	Write-off of loans in absence of lending provisions is recorded as a negative income in non-interest income.
	D.	The part of the profit that is not distributed as dividends is retained profits.
	E.	The unrealized capital gains on available-for-sale securities is recorded in non-interest income.

QUESTION 20

An investor who gives a sell order to its managed fund at 6pm on Wednesday 5/11 will receive a share of the portfolio's NAV measured on

	A.	Thursday 6/11 4pm
	B.	Tuesday 4/11 4pm
	C.	Thursday 6/11 9am
	D.	Wednesday 5/11 6pm
	E.	Wednesday 5/11 4pm