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Series 6

Unit 2 Section 1

QuestionAnswer
Investment Company A company engaged in the business of pooling investors' money and trading in securities for them. Examples include face amount certificate companies, unit investment trusts, and management companies.
Face Amount Certificate Companies An investment company that issues certificate obligating it to pay an investor a stated amount of money (the face amount) on a specific future date. The investor pays into the certificate in periodic payments or in a lump sum.
Unit Investment Trust An investment company that sells redeemable shares ina a professionally selected portfolio of securities. It is organized undera trust indenture, not a corporate charter.
Redeemable Security A security that the issuer redeems upon the holder's request. Examples include shares in an open end investment company & UITs
Unit/Share of Beneficial Interest/ Redeemable Interest A redeemable share in a unit investment trust, representing ownership of an undivided interest in the underlying portfolio.
Fixed Unit Investment Trust An investment company that invests in a portfolio of securities in which no changes are permissible.
Nonfixed Unit Investment Trust An investment company that invests in a portfolio of securities and permits changes in the portfolio's makeup.
Management Company An investment company, either open-end or closed-end, that trades various types of securities in a portfolio in accordance with specific objectives stated in the prospectus.
Closed-End Management Company/ Publically Traded Fund. An investment company that issues a fixed number of shares in an actively managed portfolio of securities. The shares may be of several classes and are traded in the secondary marketplace, either on an exchange or over the counter. The shares' market pric
Ask/ Offer An indication of willingness by a trader of dealer to sell a security or a commodity; the price at which an investor can buy from a broker/dealer
Mutual Fund/ Open-end Investment Company/ Open-End Management Company. An investment co. that cont. offers new equity shares in an actively managed portfolio of securities. All shareholders participate in the fund's gains or losses. The shares are redeemable on any business day at the net asset value. Each mutual fund's port
Face Amount-Amount Certificate (FAC) A contract between an investor and an issuer in which the issuer guarantees payment of a stated (face amount) sum to the investor at some set date in the future. In return for this future payment, the investor agrees to pay the issuer a set amount of mone
Fully-Paid Face-Amount Certificate If the investor pays for the face-amount certificate in a lump sum.
Bid Price Price in which an investor can sell determined by supply/ demand.
Created by: ericjrolon