14) Another name for a mutual fund that doesn't levy a sales charge, but does charge an ongoing higher 12b-1 fee is a class ________ fund.

A) A

B) B

C) C

D) D

E) E

8) Bob Newsome purchased 250 shares of the Northern Lights Growth Fund. The purchase cost was $20 per share and the total commission was $250. What is the load being charged by the fund?

A) 8.5 percent

B) 5 percent

C) 4.5 percent

D) 3 percent

E) 2.5 percent

5) For most mutual funds, the net asset value is calculated at the close of trading each:

A) year.

B) quarter.

C) week.

D) day.

E) hour.