1.A(n) ________________ mutual fund invests funds in short-term securities like Treasury bills, jumbo CDs, and commercial paper.

A.REIT

B.hybrid fund

C.closed-end investment company

D.equity mutual fund

E.money market mutual fund

2.A(n) __________________ has customer demand for the shares determining the number of shares outstanding.

A.general partnership

B.limited partnership

C.open-end

D.REIT

E.closed-end

3.A no-load mutual fund:

A.has zero operating expenses.

B.is typically marketed directly to customers, charging no commission.

C.is a type that no longer exists.

D.does not invest in common stocks.

E.has a zero or negative rate of return in the most recent year.

4.Fees considered "12b-1 fees" are:

A.fees that investment companies must pay to the SEC.

B.fees charged by some mutual funds, due to distribution and marketing costs.

C.up-front "load" fees, charged by some mutual funds.

D.back-end "load" fees, charged by some mutual funds.

E.fees charged by mutual funds, to compensate the portfolio manager.

5.Verysmall Mutual Fund's investment portfolio is comprised of the following: 1,000 shares of General Mills (GIS, current price is $50 per share); 3,000 shares of Bank of America Corp (BAC, current price is $30 per share); and 2,500 shares of United Airlines Holdings (UAL), current price is $90 per share). Verysmall Mutual Fund has sold a total of 15,000 of its own shares to customers. What is Verysmall Mutual Fund's net asset value?

A.$21.00

B.$24.33

C.$41.67

D.$40.56

E.$125.00