Collectables and Personal Use Assets Quiz
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Questions and Answers

What must be done with a collectable or personal use asset within seven days of the fund acquiring it?

  • Documented in the minutes of a meeting of trustees
  • Transferred to a related party
  • Insured in the fund's name (correct)
  • Stored or displayed in a private residence of a related party

    • Which of the following is not allowed for collectables and personal use assets?

  • Used by a related party
  • Leased to a related party
  • Stored or displayed in a private residence of a related party
  • Transferred to a related party at market price (correct)

    • Which of the following is a requirement for investing in collectables and personal use assets?

  • Must be stored or displayed in a private residence of a related party
  • Must be documented in the minutes of a meeting of trustees
  • Must comply with all other relevant investment restrictions (correct)
  • Must be insured in the fund's name

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