Reading 73: Alternative Investments - LOSa,Q16-18 continue, companies, included, investment, net

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Q16. Open-end investment companies:

A)   must register a maximum number of shares with the Securities and Exchange Commission (SEC).

B)   must redeem shares at the net asset value with no fees included.

C)   can continue to sell and repurchase shares after their initial public offerings.

Q17. A closed-end fund:

A)   has its price determined by the net asset value (NAV).

B)   has its price determined by supply and demand, regardless of its net asset value (NAV).

C)   is traded in the primary market but not the secondary market.

Q18. The following table shows a mutual fund comprised of four stocks, each stock's number of shares, and the price per share.

Stock	Shares	Price
A	6,200	$10
B	6,000	$34
C	3,900	$8
D	2,600	$52
Total
Shares = 25,000

Assuming no liabilities, the net asset value (NAV) of this fund is:

A)   $26.00.

B)   $23.12.

C)   $17.30.

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