Which of the Following Characteristics Apply to Closed-End Mutual Funds

question 1

Multiple Choice

Which of the following characteristics apply to closed-end mutual funds?
I. unlimited number of outstanding shares
II. transactions between shareholders
III. Market prices may be higher or lower than NAV.
IV. Fund will repurchase shares at any time.

• A) I and IV only
• B) II and III only
• C) I, II and III only
• D) II, III and IV only

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Definitions:

Mesoderm

The middle layer of an embryo in early development, between the endoderm and ectoderm, which gives rise to muscles, bones, and blood tissues.

Germ Layer

Each of the three layers of cells (ectoderm, mesoderm, and endoderm) that form during embryogenesis, which give rise to all tissues and organs of an organism.

Radial Cleavage

A type of embryonic development in which the cells divide parallel or perpendicular to the polar axis, resulting in a radially symmetrical embryo.

Echinoderms

A phylum of marine animals characterized by radial symmetry and a unique water vascular system, including starfish and sea urchins.