Which of the Following Characteristics Apply to Unit Investment Trusts

question 15

Multiple Choice

Which of the following characteristics apply to unit investment trusts? I) Most are invested in fixed-income portfolios.II) They are actively-managed portfolios.III) The sponsor pools securities, then sells public shares in the trust.IV) The portfolio is fixed for the life of the fund.

• A) I and IV
• B) I and II
• C) I, III, and IV
• D) I, II, and III
• E) I, II, III, and IV

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