If a Closed-End Investment Company Sells for a Discount

question 2

Multiple Choice

If a closed-end investment company sells for a discount,

• A)its price exceeds the net asset value
• B)its price is less than the net asset value
• C)dividend income exceeds capital gains
• D)capital gains exceed dividend income.

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Definitions:

Pharyngeal Gill Slits

Openings in the pharynx that serve as a respiratory feature in some aquatic organisms, a characteristic of chordates.

Nerve Cord

Bundle of nerves that runs the length of a body.

Adult Tunicates

Marine invertebrates that, during their adult stage, are fixed in place and have a sac-like body covered by a tunic.

Anatomically Modern Humans

Homo sapiens exhibiting physical characteristics similar to those of human populations today, dating back approximately 200,000 years ago.