NO.PZ202212270100005103
问题如下：
Based on Exhibit 1 and Exhibit 2, the Yellow Wood Fund’s 2016 investment management fee is:
选项：
A.3.00%.
4.20%.
4.50%.
解释：
Correct Answer: B
The fund’s fee schedule includes a base fee of 1.50% and a 20% performance-based fee. The performance-based fee is applied after the base fee is deducted. The total fee is calculated as follows:
1.5% + [20% × (15% – 1.5%)] = 4.20%
management fee是否包括incentive fee？
