The Offer Price of an Open-End Fund Is $18 and the Fund

question 13

Multiple Choice

The offer price of an open-end fund is $18 and the fund is sold with a front-end load of 5%. What is the fund's NAV?

• A) $18.74
• B) $17.10
• C) $15.40
• D) $16.57

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Definitions:

Streaming

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Clustering

The method of categorizing a collection of items so that those within the same category are more alike to each other than they are to items in different categories.

Preferred Provider Organization

Preferred Provider Organization (PPO) is a type of health insurance plan that offers a network of healthcare providers, allowing policyholders to receive services at a discounted rate.

Health Maintenance Organization

A type of health insurance plan that typically restricts patients to a network of doctors and hospitals in order to control costs.