A Mutual Fund Has the Following Share Characteristics: Shares Are

Multiple Choice

A mutual fund has the following share characteristics: Shares are offered at the NAV with no front-end load, a 12b-1 fee of 1 percent is charged, a back-end load of 1 percent is charged only if the shares are sold by the investor within one year of purchase, and the shares do not convert to any other class of shares.These shares would be classified as

A) Class A shares.
B) Class B shares.
C) Class C shares.
D) Class D shares.
E) either Class A or Class C shares.