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11.No-load mutual funds compensate investment managers and salespeople by

a.charging a small fee for each purchase/sale.

b.charging a fee based on the performance of the fund.

c.charging a fee based on the value of the fund's assets.

d.charging brokers a fee to sell the shares.

 

12. Unit investment trusts are associated with

a.actively managed, short-life, liquidity provided by market.

b.not actively managed, long-life, liquidity provided by originator.

c.not actively managed, long-life, very little liquidity.

d.none of the above

 

13.Money market mutual funds compete mostly with banks'

a.demand deposits.

b.time deposits.

c.MMDAs.

d.regular savings accounts.

 

14.Money market mutual funds do NOT invest in

a.commercial paper and banker's acceptances.

b.bank CDs.

c.U.S. Treasury bills.

d.repurchase agreements.

e.U.S. Treasury notes and bonds.

 

15. The majority of securities owned by open-end mutual funds are:

a.real, physical assets.

b.money market securities.

c.capital market securities.

d.safe, low-risk government securities.

 

16.Open-end investment companies are also called ________ and are called "open-end"               because

a.high risk funds; they are able to assume high levels of risk.

b.venture capitalists; they invest in the stock of firms.

c.mutual funds; they can buy an unlimited number of corporate shares.

d.mutual funds; they can issue an unlimited number of shares to investors.

 

17.The price of a mutual fund share is

a.the total value of mutual fund shares divided by the number of corporate shares held.

b.the net asset value or the number of shares issued divided by the number of corporate shares owned.

c.the net asset value or the value of assets divided by shares issued.

d.the net asset value or the number of shares of corporate stock held divided into the total value of the stock portfolio.

 

18.The market value per share of closed-end investment companies

a.can exceed the net asset value per share.

b.is determined by the market.

c.can be less than the net asset value per share.

d.both b and c

e.all of the above

 

19.A mutual fund "load" refers to

a.the operating expenses charged against the assets.

b.the sales commissions.

c.the sum of the commissions paid for buying and selling the assets of the fund.

d.the fees for the investment manager.

 

20.As interest rates _________, stock mutual funds tend to hold more _________ assets.

a.increase; liquid

b.increase; common stock

c.decrease; liquid

d.fluctuate; common stock

 

 

 

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