Exam 4: Mutual Funds and Other Investment Companies

Growth Fund had year-end assets of $862,000,000 and liabilities of $12,000,000.There were 32,675,254 shares in the fund at year-end.What was Growth Fund's net asset value

A mutual fund had average daily assets of $3.0 billion in 2012.The fund sold $600 million worth of stock and purchased $700 million worth of stock during the year.The fund's turnover ratio is

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the S&P 500 should choose

Which of the following statements about real estate investment trusts is true

You purchased shares of a mutual fund at a price of $20 per share at the beginning of the year and paid a front-end load of 5.75%.If the securities in which the fund invested increased in value by 11% during the year, and the fund's expense ratio was 1.25%, your return if you sold the fund at the end of the year would be

In 2012 the proportion of mutual funds (based on total assets) specializing in bonds was

You purchased shares of a mutual fund at a price of $17 per share at the beginning of the year and paid a front-end load of 5.0%.If the securities in which the fund invested increased in value by 12% during the year, and the fund's expense ratio was 1.0%, your return if you sold the fund at the end of the year would be

Which of the following characteristics apply to unit investment trusts I. Most are invested in fixed-income portfolios. II. They are actively managed portfolios. III. The sponsor pools securities, then sells public shares in the trust. IV. The portfolio is fixed for the life of the fund.

Which of the following statements about real estate investment trusts is true

Investors in closed-end funds who wish to liquidate their positions must

A mutual fund had NAV per share of $26.25 on January 1, 2012.On December 31 of the same year the fund's rate of return for the year was 16.4%.Income distributions were $1.27 and the fund had capital gain distributions of $1.85.Without considering taxes and transactions costs, what ending NAV would you calculate

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

The Yachtsman Fund had NAV per share of $36.12 on January 1, 2012.On December 31 of the same year the fund's NAV was $39.71.Income distributions were $0.64 and the fund had capital gain distributions of $1.13.Without considering taxes and transactions costs, what rate of return did an investor receive on the Yachtsman Fund last year

Assume that you purchased shares of High Flying mutual fund at a net asset value of $12.50 per share.During the year you received dividend income distributions of $0.78 per share and capital gains distributions of $1.67 per share.At the end of the year the shares had a net asset value of $13.87 per share.What was your rate of return on this investment

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 Nasdaq 100 should choose

A mutual fund had NAV per share of $37.12 on January 1, 2012.On December 31 of the same year the fund's rate of return for the year was 11.0%.Income distributions were $2.26 and the fund had capital gain distributions of $1.64.Without considering taxes and transactions costs, what ending NAV would you calculate

Investors' Choice Fund had NAV per share of $37.25 on January 1, 2012.On December 31 of the same year the fund's rate of return for the year was 17.3%.Income distributions were $1.14, and the fund had capital gain distributions of $1.35.Without considering taxes and transactions costs, what ending NAV would you calculate for Investors' Choice

A mutual fund had year-end assets of $560,000,000 and liabilities of $26,000,000.There were 23,850,000 shares in the fund at year-end.What was the mutual fund's net asset value

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the Wilshire 5000 should choose