The Maximum Sales Charge a No Load Mutual Fund Can

question 104

Multiple Choice

The maximum sales charge a no load mutual fund can charge

• A) 7% of the net asset value.
• B) 7% of the purchase price.
• C) 8 1/2% of the net asset value.
• D) 8 1/2% of the purchase price.
• E) none of these.

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Definitions:

NSF Check

A check that has been refused by the bank due to insufficient funds in the account it was drawn against.

Bank Service Charge

Fees charged by a bank for account services, such as account maintenance, transactions, and other banking services.

Outstanding Checks

Checks that have been issued and recorded in the account ledger but have not yet been cashed or cleared by the bank.

Checks Cleared

A term indicating that checks issued have been presented and successfully processed by a bank, deducting the amount from the payer's account.