Which of the Following Statements Is NOT Correct

question 50

Multiple Choice

Which of the following statements is NOT correct?

• A)A mutual fund is usually run by an investment company.
• B)Mutual funds with lower expense ratios tend to outperform other funds with a similar investment objective.
• C)For each mutual fund, all expenses charged and reflected in the expense ratio are always valid.
• D)The SEC requires that a majority of the directors of a mutual fund board be independent.