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Chapter 9 Mut. Funds

QuestionAnswer
Where are mutual funds purchased? Primary market
Where are Close ended funds purchased? Secondary Market
How are mutual funds redeemed? Next computed price
What is the POP? POP = NAV / 100% - Sales Charge %
What kind of securities can be purchased in a Mutual Fund Common Stock ONLY
What kind of securities can be purchased in a close ended Fund Debt instruments common Stock preferred stock
What consists of the Execution fees and what fund gets them? Market Price + commission Close ended funds
How do you find the NAV NAV = Assets - Liabilites / Outstanding shares
What are the characteristics of a Class A Share? - Lowest 12b-1 fee - Front loaded - Made for long-term investors
What are the characteristics of a Class B Share? - Highest 12b-1 Fee - Back loaded - CDSC - Breakpoints
What are the characteristics of a Class C / level load Share? - Annual 12b-1 fee normally around 1% - Best for short term investors
What are the characteristics of a No Load fund? 12b-1 fee cannot exceed 0.25% - No sales charge
What is a UIT? Unit investment fund - No active manager - Pays out when fund reaches maturity
What is a Face Amount Certificate? When an issuer gives out a payment after receiving a series of payments from the customer or they receive a lump sum.
Created by: user-2068186
 

 



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