Data for the United States Suggests That About How Many

question 2

Multiple Choice

Data for the United States suggests that about how many millionaires inherited their fortunes?

• A)one in seven
• B)one in five
• C)one in three
• D)one in two

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Definitions:

No-load Mutual Fund

A mutual fund that does not charge any type of sales load or commission to investors.

Expense Ratio

Expense Ratio is the annual fee that mutual funds, exchange-traded funds (ETFs), and other pooled investment products charge their shareholders, expressed as a percentage of assets under management.

Rate of Return

The profit or deficit experienced from an investment, represented as a percentage of the investment's starting price.

Multiple-class Shares

Stocks issued by a single company that have different rights, dividends, or voting powers, typically designated as Class A, Class B, etc.