Which of the Following Characteristics Is Not True of Closed-End

question 84

Multiple Choice

Which of the following characteristics is not true of closed-end funds?

• A) They can be load or no-load funds.
• B) They do not repurchase shares from investors.
• C) They are bought and sold on stock exchanges.
• D) They may sell above or below NAV.

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Definitions:

Duty

A moral or legal obligation; a responsibility that one is required to perform in a social, legal, or professional context.

Performance

The execution of duties or actions stipulated by a contract.

Third Party

An entity involved in a transaction or legal situation who is neither the first (often the buyer or claimant) nor the second (often the seller or defendant) principal party.

Express Condition

A specific and explicitly stated requirement in a contract that must be met for contractual obligations to be fulfilled.