1. Which of the following statement is correct about the volatility index (VIX)?

VIX rises when the stock market becomes more volatile

The higher VIX, the more optimistic investors are

VIX is a measure of recent inflation volatility level.

VIX measures stock market volatility in the past year.

2. In the case of closed-end investment companies,

share prices are determined by the investment company.

share prices are determined by supply and demand.

shares can be bought from or sold to the investment company at the NAV.

shares are traded like those of a private firm.

All of these are correct.

3. In the case of open-end investment companies,

shares can be bought from or sold to the investment company at the NAV.

shares show that no new investment dollars are available after the IPO.

shares are bought without a sales fee.

shares trade on the secondary market.

shares prices are determined by the investment company.