The Druid Fund Has a NAV of $9

question 95

Multiple Choice

The Druid Fund has a NAV of $9.00 and an offer price of $9.45.We know,then,that

• A)Druid is a load fund.
• B)Druid is about to be issued to the public as a no-load fund with a $0.45 offer cost.
• C)shares can be purchased only through a stockbroker.
• D)there is a $0.45 premium paid to investors to buy the shares.

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