Kendall Purchased a Security That Gives Him a Position in the Energy

question 19

Multiple Choice

Kendall purchased a security that gives him a position in the energy industry. Kendall has been told that he will only pay a capital gains tax if he sells his security but will pay taxes on dividends. Based on this information, Kendall must have purchased:

• A) a no-load, energy mutual fund.
• B) an energy mutual fund with a load.
• C) an energy ETF.
• D) a SPDR.

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