A Mutual Fund Had Average Daily Assets of $4

question 21

Multiple Choice

A mutual fund had average daily assets of $4.0 billion in 2018. The fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year. The fund's turnover ratio is

• A) 37.5%.
• B) 22%.
• C) 15%.
• D) 45%.
• E) 20%.

---

Definitions:

Eating Disorders

Mental illnesses characterized by irregular eating patterns that detrimentally impact an individual's physical or psychological well-being.

Brain Chemistry

The complex interactions and balance of chemicals in the brain that affect mood, behavior, and cognition.

Anorexia

A psychological and potentially life-threatening eating disorder characterized by extreme weight loss, an irrational fear of gaining weight, and a distorted body image.

Bulimia

An eating disorder characterized by binge eating followed by purging, through methods such as vomiting or excessive exercise, to prevent weight gain.