16. Which of the following is a reason for selecting a mutual fund? RES) a) avoidance of market risk b) high tax efficiency c) charging 125-1 fees instead of load fees d) often realizing portfolio gains 17. One means to adjust for risk is to a) standardize funds' returns by their beta coefficients b) compute rates of return including both income and capital gain di c) standardize funds' costs by an aggregate index of mutual fund ex d) divide each funds' return by the return on the market 18. The net asset value of a closed-end investment company increases a) higher stock prices b) lower stock prices c) larger number of shares d) increased liabilities 19. If a closed-end investment company sells for a discount, a) its price exceeds the net asset value b) its price is less than the net asset value c) dividend income exceeds capital gains d) capital gains exceed dividend income. 20. A real estate investment trust a) pays federal income taxes b) retains all of its earnings c) invests in mortgages or rental properties d) cannot use debt financing