Exam 4: Mutual Funds and Other Investment Companies

A mutual fund had NAV per share of $26.25 on January 1, 2016. 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?

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

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?

A mutual fund had average daily assets of $3.0 billion in 2016. The fund sold $600 million worth of stock and purchased $700 million worth of stock during the year. The fund's turnover ratio is

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?

Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the Nasdaq 100 should choose

Investors' Choice Fund had NAV per share of $37.25 on January 1, 2016. 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?

Pools of money invested in a portfolio that is fixed for the life of the fund are called

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?

In 2016, the proportion of mutual funds (based on total assets) specializing in common stocks was

Which of the following statements about money market mutual funds is true?

Which of the following functions do investment companies perform for their investors?

In 2016, the proportion of mutual funds (based on total assets) specializing in common stocks was

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

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

A mutual fund had year-end assets of $700,000,000 and liabilities of $7,000,000. There were 40,150,000 shares in the fund at year end. What was the mutual fund's net asset value?

In 2016, the proportion of mutual funds (based on total assets) specializing in bonds was

Which of the following would increase the net asset value of a mutual fund share, assuming all other things remain unchanged?

Pools of money invested in a portfolio that is fixed for the life of the fund are called

A mutual fund had average daily assets of $3.0 billion in 2016. The fund sold $600 million worth of stock and purchased $700 million worth of stock during the year. The fund's turnover ratio is