Sản phẩm & Rủi roCâu 69 / 398
Shares of a closed-end investment company:
a.Trade on an exchange and may sell at a premium or discount to net asset value
b.Are always bought and sold at net asset value plus a sales load
c.Are redeemed directly by the fund at net asset value on demand
d.Represent a fixed, unmanaged portfolio that self-liquidates
Giải thích
A closed-end fund issues a fixed number of shares in an IPO, after which the shares trade on an exchange or over the counter. Their market price is set by supply and demand and can be above (a premium) or below (a discount) the fund's net asset value, unlike open-end fund shares that transact at NAV.
Trích dẫn luật: Investment Company Act of 1940Luyện miễn phí toàn bộ 398 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- 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?
- A registered representative recommends that a client invest $24,000, an amount just under a $25,000 breakpoint, so the transaction avoids reduced sales charges. This practice is known as:
- Which statement correctly distinguishes a closed-end fund from an open-end fund?
- Which of the following is generally TRUE of an exchange-traded fund (ETF)?
- An investor wants to place a limit order and trade intraday, and to be able to use stop orders. Compared with a traditional open-end mutual fund, which product better meets these needs?
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