To Purchase 750 Units of a Fund with a NAV

question 138

Multiple Choice

To purchase 750 units of a fund with a NAV of $15.56 and a 4 percent load fee, what amount would you need to make the purchase?

• A)$12 136.80
• B)$11 203.20
• C)$11 670.00
• D)Unknown

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Definitions:

Ravens' Progressive Matrices

A nonverbal group test typically used to measure abstract reasoning and regarded as a test of fluid intelligence.

Background Knowledge

The information that is already known by an individual, which helps in understanding new information.

Predictive Validity

An assessment of whether a test measures what it’s intended to measure, based on whether the test score correlates with another relevant criterion measured later.

Validity

The extent to which a method or procedure measures what it is supposed to measure.