1. Characteristics of a load fund include all of the following except: a. Fees usually in the range of 3% to 8% b. Pay a commission to a sales agent c. Are purchased directly from the investment company d. Has a fixed number of shares 2. 12B-1 Fees a. Are a trailing commission b. Cannot exceed more than 1% of the funds assets per annum c. Include transfer charges d. Represent broker fees 3. Mutual funds have advantages which include all except for the following: a. Broad diversification b. Are easy to purchase and sell c. Can have automatic reinvestment d. Have little to no risk 4. Mutual funds that are stable and offer low risk include: a. Money market fund b. Tax exempt bonds c. Small cap stock d. All of the above e. Both a and b