Q6. Jillian Best is choosing between two mutual funds. Fund A has a front-end load of 4%, a net asset value (NAV) of $60.00, and an expected return of 13.0%. Fund B has a redemption fee of 1.5%, a NAV of $27, and an expected return of 10%. Jillian will invest $50,000 in either fund. Which of the following statements is most accurate if Jillian has a 6-month holding period? The:

A)   investor is better off with the redemption fee fund by $592.50.

B)   investor is better off with the front-end load fund by $120.00.

C)   investor is better off with the redemption fee fund by $712.50.

Q7. Which of the following statements about investment companies is least accurate?

A)   The investment company's board of directors hires an investment management company to select securities, manage the portfolio, and handle administrative duties.

B)   Generally the investment advisory firm initiating the fund will also act as the fund's investment management company.

C)   Investment companies are generally wholly owned subsidiaries of the investment advisory firm that creates them.

Q8. You are going to invest in a closed-end mutual fund and are told that the net asset value of the fund is $20.40, and the share price is $18.20. What is the discount you would receive or the premium that you would pay?

A)   -0.1209.

B)   -0.1078.

C)   0.1209.

Q9. The net asset value (NAV) of an open-end fund is determined by the:

A)   book value of all assets divided by the number of shares outstanding.

B)   market value of assets minus liabilities divided by the number of shares outstanding.

C)   supply and demand for the shares in the investment management company.

Q10. An investment company that stands ready to redeem investor shares at market value is classified as:

A)   a closed-end investment company.

B)   a managed investment company.

C)   an open-end investment company.

Q6. Jillian Best is choosing between two mutual funds. Fund A has a front-end load of 4%, a net asset value (NAV) of $60.00, and an expected return of 13.0%. Fund B has a redemption fee of 1.5%, a NAV of $27, and an expected return of 10%. Jillian will invest $ffice:smarttags" />50,000 in either fund. Which of the following statements is most accurate if Jillian has a 6-month holding period? The:fficeffice" />

A)   investor is better off with the redemption fee fund by $592.50.

B)   investor is better off with the front-end load fund by $120.00.

C)   investor is better off with the redemption fee fund by $712.50.

Correct answer is A)

Front end load fund:	$50,000 (1 – 0.04)(1.065)	= $51,120.00
Redemption fee fund:	$50,000 (1.05)(1 – 0.015)	= $51,712.50
Redemption fee fund advantage		$ 592.50

Q7. Which of the following statements about investment companies is least accurate?

A)   The investment company's board of directors hires an investment management company to select securities, manage the portfolio, and handle administrative duties.

B)   Generally the investment advisory firm initiating the fund will also act as the fund's investment management company.

C)   Investment companies are generally wholly owned subsidiaries of the investment advisory firm that creates them.

Correct answer is C)

Investment companies are owned by individual investors. For example, individuals who purchase shares in a mutual fund are the "owners" of that fund.

Q8. You are going to invest in a closed-end mutual fund and are told that the net asset value of the fund is $20.40, and the share price is $18.20. What is the discount you would receive or the premium that you would pay?

A)   -0.1209.

B)   -0.1078.

C)   0.1209.

Correct answer is B)

18.20 ? 20.40	= -0.1078
20.40

Q9. The net asset value (NAV) of an open-end fund is determined by the:

A)   book value of all assets divided by the number of shares outstanding.

B)   market value of assets minus liabilities divided by the number of shares outstanding.

C)   supply and demand for the shares in the investment management company.

Correct answer is B)

This is the equation for the calculation of NAV.

Q10. An investment company that stands ready to redeem investor shares at market value is classified as:

A)   a closed-end investment company.

B)   a managed investment company.

C)   an open-end investment company.

Correct answer is C)

A closed-end investment company does not redeem investor shares; after issuance, shares trade in the secondary market. Some managed investment companies may redeem shares, but others may not. An open-end investment company always offers a redemption feature.

很有用的题，谢谢楼主提供资源。。。。。。

thanks

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