Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 INCORRECT Which one of the following statements regarding open-end mutual  funds is  false? A) The funds redeem shares at net asset value. B) The funds offer investors professional  management. C) The funds offer investors a guaranteed rate of  return. D) B and C. E) A and B. Feedback: Open-end mutual funds redeem shares at net asset value and offer investors professional  management. However, they do not offer investors a guaranteed rate of return. 2 INCORRECT Which one of the following statements regarding closed-end mutual  funds is  false? A) The funds always trade at a discount from  NAV. B) The funds redeem shares at their net asset  value. C) The funds offer investors diversification. D) A and B. E) None of the above. Feedback: Closed-end mutual funds trade at premiums and discounts from NAV. 3 INCORRECT Century fund had average daily assets of $3.0 billion in 2007. The fund  sold $750 million worth of stock and purchased $850 million worth of 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/06/2012 for the course FINANCE 5700 taught by Professor Bob during the Spring '12 term at websteruniv.edu.

Page1 / 4


This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online