Multiple choice

1. One may find the shares of which of the following traded on the national exchanges?

a. MMMF

b. open-end investment company

c. no-load mutual fund

d. closed-end investment company

e. none of the above

2. Which one of the following is not actively managed?

a. load mutual funds

b. unit investment trusts

c. REITs

d. MMMFs

3. Investment funds

a. are adaptive organizations which have responded well to economic conditions and investor needs.

b. are slow to react to needs because of severe regulation.

c. have shifted from one investment fad to another without attending to investor needs.

d. serve the large institutional investor.

4. Investment funds provide investors all of the following except:

a. diversification.

b. contractual rate of return.

c. professional advice.

d. small minimum investment.