A Mutual Fund Had Average Daily Assets of $2

question 56

Multiple Choice

A mutual fund had average daily assets of $2.0 billion in 2016. 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:

Feet

The lower extremity of the leg below the ankle, on which a person stands or walks.

Leptin

A hormone that affects appetite and is believed to affect the onset of puberty. Leptin levels increase during childhood and peak at around age 12.

Estrogen

A group of steroid hormones that play a key role in the development and regulation of the female reproductive system and secondary sex characteristics.

Cortisol

The primary stress hormone; fluctuations in the body’s cortisol level affect human emotions.