An Investment That Embodied a Combination of the Desirable Aspects

Multiple Choice

An investment that embodied a combination of the desirable aspects of mutual funds and closed-end funds would require portfolios to be traded like stocks throughout the day at a price equal to the continuously known ________ and would be, in effect, an ________.

A) premium; exchange-traded fund.
B) NAV; exchange-traded fund.
C) NAV; open-end fund.
D) price; mutual fund.