Question

QUESTION 9

1. Closed-end fund shares most commonly sell:

   		a. At the fund's net asset value.
   		b. At a premium to the fund's net asset value.
   		c. At a discount to the fund's net asset value.
   		d. At a price-to-earnings ratio between 15 and 16 times.

QUESTION 10

1. Smith Funds are a group of equity mutual funds that include Smith Growth, Smith Emerging Market, and Smith Balanced. The group of funds is most likely referred to as:

   		a. Exchange-traded funds.
   		b. Unit investment trusts.
   		c. Family of funds.
   		d. Real estate investment trusts.

Answer 1

Closed-end fund shares most commonly sell:

a. At the fund's net asset value

The group of funds is most likely referred to as:

c. Family of funds.