Closed-End Investment Companies

question 25

Multiple Choice

Closed-end investment companies

• A)have a fixed number of shares.
• B)can trade at a price that is greater than, equal to, or less than the NAV.
• C)will trade at a different price as the number of shares of the fund changes.
• D)have a fixed number of shares, and will trade at a different price as the number of shares in the fund changes.
• E)have a fixed number of shares and can trade at a price that is greater than, equal to, or less than the NAV.

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Definitions:

Delivery Gap

The difference between a company's service quality performance compared to customer service expectations.

Zone Of Tolerance

The area between customers’ expectations regarding their desired service and the minimum level of acceptable service—that is, the difference between what the customer really wants and what he or she will accept before going elsewhere.

Standards Gap

The difference between the quality standards set by a company for its products or services and the actual performance perceived by customers.

Communications Gap

A situation where there is a difference or conflict between the message sent and the message received, often leading to misunderstanding.