Today,you Are Selling Shares of an Open-End Mutual Fund and Will

question 66

Multiple Choice

Today,you are selling shares of an open-end mutual fund and will be charged a CDSC of 3 percent.The price you will receive per share is equal to:

• A) 103 percent of the opening NAV.
• B) 97 percent of the opening offering price.
• C) 97 percent of the closing NAV.
• D) 103 percent of the closing offering price.
• E) the closing offering price.

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Definitions:

Rodents

A large order of mammals characterized by two continuously growing incisors in the upper and lower parts of their mouth, which must be kept short by gnawing.

Teeth

Hard, calcified structures in the jaws of many vertebrates, used for biting, chewing, and sometimes for defense.

Grow Continuously

A process referring to entities that do not stop increasing in size or number over time, either naturally or through external intervention.

Birds

Warm-blooded vertebrates characterized by feathers, beaks, and typically the ability to fly, with some exceptions like ostriches.