9. Consider the following information for BTC Invest, if the total expense ratio is 0.6%, what is the rate of return on the fund? *

1/1/2019 31/12/2019

Assets $500 million $600 million

Debt $70 million $60 million

Share outstanding 17 million 19 million

Also, assume that investors have recieved income distributions of $0.8 Per share & capital gain distributions of $0.6 per share

a. 12.90%

b. 15.52%

c. 10.41%

d. 17.15%

e. None of the above

10. The total assets of Investment Corporation fund are equal to $350 million. It has total liabilities of $30 million and 11 million shares outstanding. Assume that the fund currently sells for $30 per share, what is the funds premium or discount as a percent of NAV? *

a. 4.030% premium

b. 3.125% premium

c. 4.030% discount

d. 3.125% discount

e. None of the above

11. Consider a mutual fund with $300 million in assets at the start of the year and 12 million shares outstanding. If the gross return on assets is 18% and the total expense ratio is 2% of the year-end value, what is the rate of return on the fund? *

a. 15.64%

b. 16%

c. 17.25%

d. 17.5%

e. None of the above

12. Consider the following data for ABC mutual fund, what is the dividend yield? *

Captionless Image:

Assets $35 million

Debt $8million

share outstanding 0.9 million

Dividends paid :4.5 per share

a. 4.5%

b. 10%

c. 15%

d. 30%

e. None of the above

13. Your investment portfolio currently worth $3.5 million. During 2019, you have sold 500 shares of APL at $22 per share and 40 shares of ADS at $84 per share. You have used the proceeds in order to buy 200 shares of Beta Com. At $71.8 per share. what is the portfolio turnover rate? *

a. 4.10%

b. 0.91%

c. 3.84%

d. 7.63%

e. None of the above