A Mutual Fund Had Average Daily Assets of $2

question 7

Multiple Choice

A mutual fund had average daily assets of $2.0 billion in 2009.The fund sold $500 million worth of stock and purchased $600 million worth of stock during the year.The fund's turnover ratio is ___.

• A)27.5%
• B)12%
• C)15%
• D)25%
• E)20%

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Definitions:

Actual Performance

The real, measurable outcomes of an individual's or organization's work, often compared against expected or intended performance.

Below Standard

A performance or quality level that does not meet the set baseline or expected criteria, indicating the need for improvement or corrective action.

Input Standards

Measure work efforts that go into a performance task.

Task Performance

The degree to which an individual or group successfully completes a given task or set of tasks.