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16. Which of the following statements is correct? a. Open-end mutual funds are traded on the secondary market. b. Closed-end funds' shares outstanding changes as

16. Which of the following statements is correct?

a. Open-end mutual funds are traded on the secondary market.

b. Closed-end funds' shares outstanding changes as investors purchase and sell shares in the fund.

c. Realized capital gains on shares held by the mutual funds get distributed to investors.

d. Short-term mutual fund investors prefer loads to12b-1 fees.

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