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112#
发表于 2012-4-1 14:16
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Which of the following statements about exchange-traded funds (ETFs) and closed-end funds is least accurate? A)
| ETFs can only trade in the secondary market, while closed-end funds can be redeemed in cash by the manager of the underlying index. |
| B)
| ETFs attempt to track the performance of a stock index, but closed-end funds usually do not. |
| C)
| Because of arbitrage, shares of an ETF rarely trade at a premium or discount to NAV as shares of a closed-end fund often do. |
|
While both ETFs and closed-end funds trade on stock exchanges, only ETFs can be redeemed in cash. The remaining statements are true. |
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