A Mutual Fund Has $380 Million in Assets and an Offering

question 37

Multiple Choice

A mutual fund has $380 million in assets and an offering price of $64.10. If the fund has a front-end load of 3.5 percent, approximately how many shares of the fund are outstanding? This fund has no liabilities.

• A) 5,928,237
• B) 6,056,281
• C) 6,142,903
• D) 5,723,109
• E) 5,896,534

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Definitions:

Job Content

Particulars and characteristics of a job, including responsibilities, tasks, and duties associated with a specific role.

McClelland's Three-Need Theory

A motivational theory which states that the needs for achievement, power, and affiliation are key drivers of human behavior.

Need For Achievement

A psychological drive that motivates individuals to strive for success and excellence.

Need For Affiliation

A person's desire to form and maintain strong relationships, be part of a group, and feel connected to others.