Which of the Following Characteristics Apply to Closed-End Mutual Funds

question 78

Multiple Choice

Which of the following characteristics apply to closed-end mutual funds?
I. Unlimited number of outstanding shares.
II. Transactions are between shareholders.
III. Market prices may be higher or lower than NAV.
IV. Fund will repurchase shares at any time.

• A) I and IV only
• B) II and III only
• C) I, II and III only
• D) II, III and IV only

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