CIFC Exam Dumps | Which of the following statements about total return for money market funds is TRUE?

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Question 44/103

Which of the following statements about total return for money market funds is TRUE?

A. Performance is displayed with both current yield and effective yield.

B. Effective yield will always be lower than current yield.

C. Current yield incorporates the compounding effect.

D. Current yield reflects the income earned on a money market fund for the most recent 14 day period.

Correct Answer: A

Explanation
Current yield and effective yield are two ways of measuring the total return for money market funds. Current yield reflects the income earned on a money market fund for the most recent 14 day period, annualized.
Effective yield incorporates the compounding effect of reinvesting the income earned on a money market fund over a year. Both current yield and effective yield are displayed in the performance reports of money market funds, as they provide different information to investors.
References = Canadian Investment Funds Course, Unit 5: Types of Investments, Lesson 4: Money Market Instruments, Section 5.4.3: Total Return for Money Market Funds1; CIFC prepkit, Chapter 5: Types of Investments, Question 5.4.3 2

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