1.You have $200,000 to invest in a mutual fund with a NAV = $70.This fund has a 4% of front load, a 1% of management fee and a 0.25% of trailer fee. Assume that the management and trailer fees are charged based on year-end asset value.The gross annual return on the fund's shares is 9%.What is your net annual rate of return to the nearest basis point?

______

A)3.33%

B)7.64%

C)6.25%

D)4.52%

2.Mutual fund management companies offering families of funds are attractive to pension-oriented investors because

__B___

A)They provide high return, low risk funds

B)They provide an opportunity to alter the investment portfolio without the paperwork of rolling over the pension money

C)They are not regulated like most mutual funds are

D)They provide significant "load" fees for customers

3.An open end mutual fund owns 1,500 shares of ABC priced at $12.The fund also owns 1,000 shares of LMN priced at $43and 2,000 shares of XYZ priced at $50.The fund itself has 3,500 of its own shares outstanding.What is the NAV of a fund's share?

______

A)$66

B)$56

C)$46

D)$36