Whose Shares Are Issued and Redeemed by the Investment Company

question 85

Multiple Choice

Whose shares are issued and redeemed by the investment company at the request of investors?

• A) Closed-end fund
• B) Exchange-traded fund
• C) Net asset value fund
• D) No-load fund
• E) Open-end fund

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Definitions:

Nonnegotiable

Nonnegotiable describes an item that cannot be transferred or endorsed to another party, often because it is final and not open for discussion or modification.

Reference

An act of mentioning or alluding to something or someone, often used for validation, citation, or acknowledgment in academic or professional contexts.

Instrument

is a legal document formally executed and capable of creating rights and obligations, such as contracts, wills, or checks.

Draft

A preliminary version of a written document or an order for a bank to pay a specified sum from the drawer's account.