Products第 4 / 110 题
A fund's public offering price is $12.50 and its net asset value is $11.50. What is the sales charge percentage?
a.7.5%
b.8.7%
c.8.0%
d.9.3%
解析
The sales charge equals the dollar spread divided by the public offering price: $1.00 / $12.50 = 8%. Dividing the $1.00 by the NAV instead produces 8.7%, which is the classic trap because the sales charge is always stated as a percentage of POP. The remaining figures do not correspond to either calculation.
免费刷完整 110 道题库 — 无需注册。
同考点相关题目
- How is the net asset value (NAV) per share of an open-end investment company calculated?
- A customer calls at 11:00 a.m. and places an order to buy shares of a mutual fund that prices its portfolio once daily at the close of the market. Which price will the customer receive?
- A mutual fund has a net asset value of $9.30 per share and a sales charge of 7% of the public offering price. What is the public offering price?
- Under FINRA rules, an open-end fund may impose the maximum permitted sales charge of 8.5% only if it offers which combination of features?
- A customer wants to invest $24,000 in a fund whose next breakpoint occurs at $25,000. The representative processes the $24,000 order without mentioning the breakpoint. This conduct is best described as:
- Which statement about a letter of intent (LOI) for mutual fund breakpoints is correct?