Consider the Compliance Bond Fund That Consists of the 7

question 80

Multiple Choice

Consider the Compliance Bond Fund that consists of the 7 bonds shown below and has no liabilities. If initially the value of the fund was $2,500,000 and the original shares were offered to the public with a NAV of $25 per share, what is the current NAV of the fund?

• A)$27.11
• B)$25.00
• C)$26.11
• D)$21.67
• E)$26.27

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Definitions:

Authorized Purchases

Transactions that have been approved or are within the purchasing rights granted to individuals or entities by an organization or authority.

Actual Authority

Legally granted power to an agent by the principal, enabling the agent to act on behalf of the principal.

Authorized Purchases

Transactions made by an individual or entity that are permitted within the scope of their authority or within the terms of an agreement.

Dissolution

The process of formally ending or dissolving a company or legal entity, distributing its assets and liabilities.