Exam 4: Mutual Funds and Other Investment Companies

A mutual fund had average daily assets of $3.0 billion in 2009.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 mutual funds,an investor that wishes to invest in a diversified portfolio of stocks worldwide (including the U.S.)should choose

In 2009 the proportion of mutual funds (based on total assets)specializing in common stocks was

A mutual fund had year-end assets of $437,000,000 and liabilities of $37,000,000.If the fund NAV was $60.12,how many shares must have been held in the fund?

The Profitability Fund had NAV per share of $17.50 on January 1,2009.On December 31 of the same year the fund's NAV was $19.47.Income distributions were $0.75 and the fund had capital gain distributions of $1.00.Without considering taxes and transactions costs,what rate of return did an investor receive on the Profitability fund last year?

As of 2009,which class of mutual funds had the largest amount of assets invested?

A mutual fund had NAV per share of $19.00 on January 1,2009.On December 31 of the same year the fund's NAV was $19.14.Income distributions were $0.57 and the fund had capital gain distributions of $1.12.Without considering taxes and transactions costs,what rate of return did an investor receive on the fund last year?

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

What is an Exchange-traded fund? Give two examples of specific ETFs.What are some advantages they have over ordinary open-end mutual funds? What are some disadvantages?

Assume that you purchased shares of a mutual fund at a net asset value of $14.50 per share.During the year you received dividend income distributions of $0.27 per share and capital gains distributions of $0.65 per share.At the end of the year the shares had a net asset value of $13.74 per share.What was your rate of return on this investment?

A mutual fund had year-end assets of $327,000,000 and liabilities of $46,000,000.If the fund NAV was $30.48,how many shares must have been held in the fund?

A mutual fund had year-end assets of $750,000,000 and liabilities of $7,500,000.There were 40,000,000 shares in the fund at year-end.What was the mutual fund's Net Asset Value?

Which one of the following statements regarding open-end mutual funds is false?

A mutual fund had year-end assets of $465,000,000 and liabilities of $37,000,000.If the fund NAV was $56.12,how many shares must have been held in the fund?

Which of the following statements about Real Estate Investment Trusts is true?

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?

Which of the following is not an advantage of mutual funds?

Of the following types of ETFs,an investor that wishes to invest in a diversified portfolio that tracks the Dow Jones Industrials should choose

A mutual fund had NAV per share of $36.15 on January 1,2009.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?

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