【正文】 nds43,000,000B.6.Diversified Portfolios had yearend assets of $279,000,000 and liabilities of $43,000,000. If Diversified39。$D.$($457,000,000 17,000,000)/24,300,000 = $.$B.4.Multiple Mutual Funds had yearend assets of $457,000,000 and liabilities of $17,000,000. There were 24,300,000 shares in the fund at yearend. What was Multiple Mutual39。Professional managementD.The funds always trade at a discount from NAV and redeem shares at their net asset value.E.A.The funds redeem shares at net asset value and offer investors professional management.Mutual funds do not offer a guaranteed rate of return.The funds redeem shares at net asset value.B.Multiple Choice Questions71.What is an exchangetraded fund? Give two examples of specific ETFs. What are some advantages they have over ordinary openend mutual funds? What are some disadvantages?69.List and describe the more important types of mutual funds according to their investment policy and use.%.E.A.%.A.%.A.%.A.%.%.B.64.A mutual fund had average daily assets of $ billion in 2012. The fund sold $ billion worth of stock and purchased $ billion worth of stock during the year. The fund39。22%.C.s turnover ratio is15%.D.25%.E.A.VTI.SPY.B.VTI.SPY.B.VTI.SPY.B.VTI.SPY.B.VTI.SPY.B.VTI.SPY.B.VTI.SPY.B.54.Of the following types of ETFs, an investor who wishes to invest in a diversified portfolio that tracks the Samp。international funds.B.emerging market funds.A.hedge funds are monly structured as private partnerships.E.A.$E.A.$$B.49.A mutual fund had NAV per share of $ on January 1, 2012. On December 31 of the same year the fund39。$C.s rate of return for the year was %. Ine distributions were $ and the fund had capital gain distributions of $. Without considering taxes and transactions costs, what ending NAV would you calculate?$D.%E.A.%%B.45.A mutual fund had NAV per share of $ on January 1, 2012. On December 31 of the same year the fund39。8,412,642C.44.A mutual fund had yearend assets of $437,000,000 and liabilities of $37,000,000. If the fund NAV was $, how many shares must have been held in the fund?8,412,642C.43.A mutual fund had yearend assets of $327,000,000 and liabilities of $46,000,000. If the fund NAV was $, how many shares must have been held in the fund?17,534,456B.None of the options4,300,000B.$$B.40.A mutual fund had yearend assets of $750,000,000 and liabilities of $7,500,000. There were 40,000,000 shares in the fund at yearend. What was the mutual fund39。$C.s net asset value?$D.$E.A.%%B.%%B.%%B.%%B.%%B.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 $40 per share. What was Patty39。operating expense fee.D.I, II, and IVD.amounts invested in domestic and global equities.D.Mixed asset classes such as asset allocation fundsD.Jargon is an openend fund but would change to a closedend fund if it wouldn39。A.I, II, and IIIE.A.An increase in the value of one of the fund39。An increase in the fund39。25.Which of the following would increase the net asset value of a mutual fund share, assuming all other things remain unchanged?They offer small investors the benefits of diversification.C.24.Which of the following is not an advantage of mutual funds?$C. Choice?%%B.22.The Yachtsman Fund had NAV per share of $ on January 1, 2012. On December 31 of the same year the fund39。%C.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?12b1 charges.D.%.D.%.D.%.D.%.D.They are highly leveraged and risky.D.REITs are similar to closedend funds.D.REITs are similar to openend funds, with shares redeemable at NAV.D.less than NAV due to limited demand.D.premium, premiumD.sell their shares to the issuer at a premium to net asset value.D.unit investment trusts.D.beat the market return in most years.C.8.Most actively managed mutual funds, when pared to a market index such as the Wilshire 5000,21,619,B.7.Pinnacle Fund had yearend assets of $825,000,000 and liabilities of $25,000,000. If Pinnacle39。43,000,000B.6.Diversified Portfolios had yearend assets of $279,000,000 and liabilities of $43,000,000. If Diversified39。$C.s net asset value?$D.Lower transaction costsE.A.The funds always trade at a discount from NAV and redeem shares at their net asset value.E.A.The funds offer investors professional management and a guaranteed rate of return.E.A.Chapter 04Mutual Funds and Other Investment CompaniesThe funds offer investors a guaranteed rate of return.D.The funds offer investors professional management.D.Professional managementD.s net asset value?$C.5.Growth Fund had yearend assets of $862,000,000 and liabilities of $12,000,000. There were 32,675,254 shares in the fund at yearend. What was Growth Fund39。$B.$A.1,182,203A.25,693,beat