Home / Questions / 1. A(n) ________________ mutual fund invests funds in short-term securities like Treasury bills, jum
1. A(n) ________________ mutual fund invests funds in short-term securities like Treasury bills, jumbo CDs, and commercial paper.
A. REIT
B. hybrid fund
C. closed-end investment company
D. equity mutual fund
E. money market mutual fund
2. A(n) __________________ has customer demand for the shares determining the number of shares outstanding.
A. general partnership
B. limited partnership
C. open-end
D. REIT
E. closed-end
3. A no-load mutual fund:
A. has zero operating expenses.
B. is typically marketed directly to customers, charging no commission.
C. is a type that no longer exists.
D. does not invest in common stocks.
E. has a zero or negative rate of return in the most recent year.
4. Fees considered “12b-1 fees” are:
A. fees that investment companies must pay to the SEC.
B. fees charged by some mutual funds, due to distribution and marketing costs.
C. up-front “load” fees, charged by some mutual funds.
D. back-end “load” fees, charged by some mutual funds.
E. fees charged by mutual funds, to compensate the portfolio manager.
5. Verysmall Mutual Fund’s investment portfolio is comprised of the following: 1,000 shares of General Mills (GIS, current price is $50 per share); 3,000 shares of Bank of America Corp (BAC, current price is $30 per share); and 2,500 shares of United Airlines Holdings (UAL), current price is $90 per share). Verysmall Mutual Fund has sold a total of 15,000 of its own shares to customers. What is Verysmall Mutual Fund’s net asset value?
A. $21.00
B. $24.33
C. $41.67
D. $40.56
E. $125.00
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