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Exam 4: Mutual Funds and Other Investment Companies

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Question 1

Multiple Choice

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A contingent deferred sales charge is commonly called a ____.

A) front-end load
B) back-end load
C) 12b-1 charge
D) top end sales commission

Correct Answer

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Question 2

Multiple Choice

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A fund that invests in securities worldwide,including the United States is called a/an ______.

A) international fund
B) emerging market fund
C) global fund
D) regional fund

Correct Answer

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C

Question 3

Multiple Choice

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Low load mutual funds have front-end loads of no more than _____.

The Stone Harbor Fund is a closed-end investment company with a portfolio currently worth $300 million.It has liabilities of $5 million and 9 million shares outstanding.If the fund sells for $30 a share,what is its premium or discount as a percent of NAV?

Which type of investment fund is commonly known to invest in options and futures in large scale?

The primary measurement unit used for assessing the value of one's stake in an investment company is ___________________.

__________ is a false statement regarding open-end mutual funds.

Under SEC rules,the managers of certain funds are allowed to deduct charges for advertising,brokerage commissions,and other sales expenses,directly from the fund assets rather than billing investors.These fees are known as ____________.

Investors who wish to liquidate their holdings in a unit investment trust may ___________________.

Investors who wish to liquidate their holdings in a closed-end fund may ___________________.

__________ fund is defined as one where the fund charges a sales commission to either buy into or exit the fund.

Which of the following is not a type of managed investment company?

Advantages of ETFs over mutual funds include all but which one of the following?

Which of the following typically employ significant amounts of leverage? I.Hedge funds II.REITs III.Money market funds IV.Equity mutual funds

The two principal types of REITs are equity trusts which _______________ and mortgage trusts which _______________.

The ratio of trading activity of a portfolio to the assets of the portfolio,is called ____________.

About _________ of mutual fund assets are invested in no-load funds.

The NAV of which funds is fixed at $1 per share?

Advantages of investment companies to investors include all but which one of the following?

You invest in a mutual fund that charges a 3% front end load,1% total annual fees,and a 2% back end load,which decreases 0.5% per year.How much will you pay in fees on a $10,000 investment that does not grow,if you cash out after three years of no gain?