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1、Chapter4MutualFundsandOtherInvestmentCompaniesMultipleChoiceQuestions1.Whichoneofthefollowingstatementsregardingopen-endmutualfundsisfalse?A)Thefundsredeemsharesatnetassetvalue.B)Thefundsofferinvestorsprofessionalmanagement.C)Thefundsofferinvestorsaguaranteedrate
2、ofreturn.D)BandC.E)AandB.Answer:CDifficulty:ModerateRationale:Noinvestmentoffersaguaranteedrateofreturn.2.Whichoneofthefollowingstatementsregardingclosed-endmutualfundsisfalse?A)ThefundsalwaystradeatadiscountfromNAV.B)Thefundsredeemsharesattheirnetassetvalue.C)Th
3、efundsofferinvestorsprofessionalmanagement.D)AandB.E)Noneoftheabove.Answer:DDifficulty:ModerateRationale:Closed-endfundsaresoldattheprevailingmarketprice.3.Whichofthefollowingfunctionsdomutualfundcompaniesperformfortheirinvestors?A)RecordkeepingandadministrationB
4、)DiversificationanddivisibilityC)ProfessionalmanagementD)LowertransactioncostsE)Alloftheabove.Answer:EDifficulty:EasyRationale:Mutualfundsareattractivetoinvestorsbecausetheyofferallofthelistedservices.20Chapter4MutualFundsandOtherInvestmentCompanies4.MultipleMutu
5、alFundshadyear-endassetsof$457,000,000andliabilitiesof$17,000,000.Therewere24,300,000sharesinthefundatyear-end.WhatwasMultipleMutual'sNetAssetValue?A)$18.11B)$18.81C)$69.96D)$7.00E)$181.07Answer:ADifficulty:ModerateRationale:(457,000,000-17,000,000)/24,300,000=$1
6、8.115.GrowthFundhadyear-endassetsof$862,000,000andliabilitiesof$12,000,000.Therewere32,675,254sharesinthefundatyear-end.WhatwasGrowthFund'sNetAssetValue?A)$28.17B)$25.24C)$19.62D)$26.01E)$21.56Answer:DDifficulty:ModerateRationale:(862,000,000-12,000,000)/32,675,2
7、54=$26.016.DiversifiedPortfolioshadyear-endassetsof$279,000,000andliabilitiesof$43,000,000.IfDiversified'sNAVwas$42.13,howmanysharesmusthavebeenheldinthefund?A)43,000,000B)6,488,372C)5,601,709D)1,182,203E)Noneoftheabove.Answer:CDifficulty:ModerateRationale:($279,
8、000,000-43,000,000)/$42.13=5,601,708.996.20Chapter4MutualFundsandOtherInvestmentCompanies7.PinnacleFundhadyear-endassetsof$825,000,000andliabilitiesof$25,000,0
