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Q11. Both open-end and closed-end funds typically charge:
A) a front-end load.
B) a premium to the underlying net asset value (NAV).
C) an annual management fee.
Q12. For the equity shares of an open-end investment company, the share value:
A) is determined in the secondary market.
B) always equals NAV.
C) may or may not equal NAV.
Q13. The per-share value of an investment company’s assets minus its liabilities is called the:
A) net asset value.
B) discount.
C) current market value.
Q14. Which statement about mutual funds is most accurate?
A) The liquidity of an open-end fund is provided by the open market.
B) The redemption fee for a closed-end fund is the commission charged on the sale and a portion of the bid/ask spread of the shares.
C) Some open-end funds charge no fees.
Q15. A mutual fund has a load of 4 percent and a net asset value (NAV) of $20 per share. What must an investor pay to purchase 250 shares?
A) $5,208.
B) $4,800.
C) $5,200.
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发表于 2009-2-28 14:50
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