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Class B mutual fund shares are best described as shares that:
a.Charge a front-end sales load at the time of purchase
b.Never impose any sales charge or 12b-1 fee
c.Are only available to institutional investors at NAV
d.Carry a contingent deferred sales charge that declines over time and often convert to Class A
Giải thích
Class B shares impose a contingent deferred sales charge (CDSC), or back-end load, that is paid if shares are redeemed within a certain number of years and declines the longer they are held. They usually carry higher 12b-1 fees than Class A and often convert to Class A shares after the CDSC period ends.
Trích dẫn luật: FINRA Rule 2341Luyện miễn phí toàn bộ 398 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which feature is characteristic of an open-end investment company (mutual fund)?
- A mutual fund has total assets of $50 million, total liabilities of $2 million, and 4 million shares outstanding. What is the net asset value (NAV) per share?
- An investor plans to make a large lump-sum investment and hold it for 20 years. Which mutual fund share class is generally most cost-effective for this investor?
- An investor wants to invest a modest amount for only about two to three years. Which share class is often most appropriate?
- A Letter of Intent in a mutual fund purchase allows an investor to:
- Breakpoints on Class A shares reduce the sales charge based on the size of the investment. Which of the following would typically qualify a purchase for a breakpoint discount?
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