Exam 4: Mutual Funds and Other Investment Companies

A mutual fund had average daily assets of $4.0 billion in 2016.The fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year.The fund's turnover ratio is

______ are balanced funds in which the asset mix can range from aggressive (primarily marketed to younger investors) to conservative (directed at older investors)

A mutual fund had average daily assets of $4.7 billion in 2016.The fund sold $2.2 billion worth of stock and purchased $3.6 billion worth of stock during the year.The fund's turnover ratio is

Of the following types of mutual funds, an investor who wishes to invest in a diversified portfolio of foreign stocks (excluding the U.S.) should choose

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the MSCI France Index should choose

Most actively-managed mutual funds, when compared to a market index such as the Wilshire 5000,

At issue, offering prices of open-end funds will often be

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the Russell 2000 should choose

Diversified Portfolios had year-end assets of $279,000,000 and liabilities of $43,000,000.If Diversified's NAV was $42.13, how many shares must have been held in the fund?

The fee that mutual funds use to help pay for advertising and promotional literature is called a

A mutual fund had year-end assets of $521,000,000 and liabilities of $63,000,000.If the fund NAV was $26.12, how many shares must have been held in the fund?

A mutual fund had NAV per share of $16.75 on January 1, 2016.On December 31 of the same year, the fund's rate of return for the year was 26.6%.Income distributions were $1.79, and the fund had capital gain distributions of $2.80.Without considering taxes and transactions costs, what ending NAV would you calculate?

A mutual fund had NAV per share of $36.15 on January 1, 2016.On December 31 of the same year, the fund's rate of return for the year was 14.0%.Income distributions were $1.16, and the fund had capital gain distributions of $2.12.Without considering taxes and transactions costs, what ending NAV would you calculate?

A mutual fund had average daily assets of $3.0 billion in 2016.The fund sold $600 million worth of stock and purchased $700 million worth of stock during the year.The fund's turnover ratio is

A mutual fund had average daily assets of $2.0 billion in 2016.The fund sold $500 million worth of stock and purchased $600 million worth of stock during the year.The fund's turnover ratio is

Assume that you purchased 200 shares of Super Performing mutual fund at a net asset value of $21 per share.During the year, you received dividend income distributions of $1.50 per share and capital gains distributions of $2.85 per share.At the end of the year, the shares had a net asset value of $23 per share.What was your rate of return on this investment?

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the MSCI Japan Index should choose

Fund of Funds are:

Closed-end funds are frequently issued at a ______ to NAV and subsequently trade at a __________ to NAV.