A Provision That Ensures Performance Fees Are Not Earned Until

question 63

Multiple Choice

A provision that ensures performance fees are not earned until the value of a fund exceeds its previous highest level is referred to as which one of the following?

• A)unearned income provision
• B)low-fee provision
• C)water mark
• D)high-water mark
• E)double-dip provision

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Definitions:

Dimensional Approach

A method in psychology that conceptualizes personality, disorders, and other psychological variables not as distinct categories, but as continua that range from one extreme to another.

Categorical Approach

A method that involves organizing or classifying items or concepts into distinct groups based on shared characteristics.

Neurotransmitter

A chemical substance that transmits nerve impulses across a synapse between neurons in the nervous system.

Anxiety Disorders

A class of disorders marked by feelings of excessive apprehension and anxiety.