An Unmanaged Fixed-Income Security Portfolio Handled by an Independent Trustee

question 58

Multiple Choice

An unmanaged fixed-income security portfolio handled by an independent trustee is known as a:

• A) junk bond fund.
• B) closed-end investment company.
• C) unit investment trust.
• D) hedge fund.

---

Definitions:

Kohlberg

Refers to Lawrence Kohlberg, a psychologist known for his theory of moral development, which suggests that moral reasoning develops in six stages.

Self-Interest

Acting based on the benefits one can derive for themselves, often considered in economic and psychological contexts as a primary motivator for human behavior.

Family

A socially recognized group typically joined by blood, marriage, co-residence, or adoption, forming an emotional and economic unit of society.

Kohlberg

Refers to Lawrence Kohlberg, a psychologist known for his theory of stages of moral development.