Which of the Following Statements Is Incorrect

question 64

Multiple Choice

Which of the following statements is incorrect?

• A)A mutual fund is usually run by an investment company.
• B)Although many mutual funds have grown substantially over time, their expense ratios have generally increased over time.
• C)For each mutual fund, all expenses charged and reflected in the expense ratio are always valid.
• D)The SEC requires that a majority of the directors of a mutual fund board be independent.