There Is Often a Difference Between the NAV of a ________

Multiple Choice

There is often a difference between the NAV of a ________ underlying portfolios and the price of its funds that are bought and sold. This difference is called a ________ when the price is greater than the NAV.

A) opened-end fund's; discount
B) mutual fund's; premium
C) closed-end fund's; premium
D) mutual fund's; discount