【正文】 ber 31 of the same year, the fund39。s NAV was $. Ine distributions were $, and the fund had capital gain distributions of $. Without considering taxes and transactions costs, what rate of return did an investor receive on the Profitability Fund last year?A.%B.%C.%D.%E.%22.The Yachtsman Fund had NAV per share of $ on January 1, 2012. On December 31 of the same year the fund39。s NAV was $. Ine distributions were $ and the fund had capital gain distributions of $. Without considering taxes and transactions costs, what rate of return did an investor receive on the Yachtsman Fund last year?A.%B.%C.%D.%E.%23.Investors39。 Choice Fund had NAV per share of $ on January 1, 2012. On December 31 of the same year the fund39。s rate of return for the year was %. Ine distributions were $, and the fund had capital gain distributions of $. Without considering taxes and transactions costs, what ending NAV would you calculate for Investors39。 Choice?A.$B.$C.$D.$E.$24.Which of the following is not an advantage of mutual funds?A.They offer a variety of investment styles.B.They offer small investors the benefits of diversification.C.They treat ine as passed through to the investor for tax purposes.D.All of the options are advantages of mutual funds.E.None of the options is an advantage of mutual funds.25.Which of the following would increase the net asset value of a mutual fund share, assuming all other things remain unchanged?A.An increase in the number of fund shares outstandingB.An increase in the fund39。s accounts payableC.A change in the fund39。s managementD.An increase in the value of one of the fund39。s stocks26.Which of the following characteristics apply to unit investment trusts?I) Most are invested in fixedine portfolios.II) They are actively managed portfolios.III) The sponsor pools securities, then sells public shares in the trust.IV) The portfolio is fixed for the life of the fund.A.I and IVB.I and IIC.I, III, and IVD.I, II, and IIIE.I, II, III, and IV27.Jargon Rapid Growth is a mutual fund that has traditionally accepted funds from new investors and issued new shares at net asset value. Jeremy Jargon manages the fund himself and has bee concerned that its level of assets has bee too high for his management abilities. He issues a statement that Jargon will no longer accept funds from new investors, but will continue to accept additional investments from current shareholders. Which of the following is true about Jargon Rapid Growth fund?A.Jargon used to be an openend fund but has now bee a closedend fund.B.Jargon has always been an openend fund and will remain an openend fund.C.Jargon has always been a closedend fund and will remain a closedend fund.D.Jargon is an openend fund but would change to a closedend fund if it wouldn39。t accept additional funds from current investors.E.Jargon is violating SEC policy by refusing to accept new investors.28.As of 2012 which class of mutual funds had the largest amount of assets invested?A.Equity fundsB.Bond fundsC.Mixed asset classes such as asset allocation fundsD.Money market fundsE.Global funds29.Commingled funds areA.amounts invested in equity and fixedine mutual funds.B.funds that may be purchased at intervals of 3, 6, or 12 months at the discretion of management.C.amounts invested in domestic and global equities.D.closedend funds that may be repurchased only once every two years at the discretion of mutual fund management.E.partnerships of investors that pool their funds, which are then managed for a fee.30.Which of the following is true regarding equity mutual funds?I) They invest primarily in stock.II) They may hold fixedine securities as well as stock.III) Most hold money market securities as well as stock.IV) Two types of equity funds are ine funds and growth funds.A.I and IVB.I, III, and IVC.I, II, and IVD.I, II, and IIIE.I, II, III, and IV31.The fee that mutual funds use to help pay for advertising and promotional literature is called aA.frontend load fee.B.backend load fee.C.operating expense fee.D.12b1 fee.E.structured fee.32.Patty O39。Furniture purchased 100 shares of Green Isle mutual fund at a net asset value of $42 per share. During the year Patty received dividend ine distributions of $ per share and capital gains distributions of $ per share. At the end of the year the shares had a net asset value of $40 per share. What was Patty39。s rate of return on this investment?A.%B.%C.%D.%E.%33.Assume that you purchased 200 shares of Super Performing mutual fund at a net asset value of $21 per share. During the year you received dividend ine distributions of $ per share and capital gains distributions of $ per share. At the end of the year the shares had a net asset value of $23 per share. What was your rate of return on this investment?A.%B.%C.%D.%E.%34.Assume that you purchased shares of High Flying mutual fund at a net asset value of $ per share. During the year you received dividend ine distributions of $ per share and capital gains distributions of $ per share. At the end of the year the shares had a net asset value of $ per share. What was your rate of return on this investment?A.%B.%C.%D.%E.%35.Assume that you purchased shares of a mutual fund at a net asset value of $ per share. During the year you received dividend ine distributions of $ per share and capital gains distributions of $ per share. At the end of the year the shares had a net asset valu