Pinnacle Fund Had Year-End Assets of $825,000,000 and Liabilities of $25,000,000

question 25

Multiple Choice

Pinnacle Fund had year-end assets of $825,000,000 and liabilities of $25,000,000. If Pinnacle's NAV was $32.18, how many shares must have been held in the fund?

• A) 21,619,346.92
• B) 22,930,546.28
• C) 24,860,161.59
• D) 25,693,645.25

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Definitions:

Air Disc Brakes

Air disc brakes are a type of brake system for heavy-duty vehicles that use air pressure to apply pressure to a disc, slowing or stopping the vehicle.

FMVSS-121

A specific Federal Motor Vehicle Safety Standard related to air brake systems in trucks and buses, ensuring safe braking performance.

Service Brakes

The primary braking system used in vehicles and machinery for regular stopping and speed control, as opposed to emergency or parking brakes.

Hold-Off Circuit

A control circuit used in hydraulic braking systems, designed to delay the hydraulic pressure application to certain parts of the system.