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A Which of the following applies to Exchange Traded Funds? their shares trade on exchanges and there is no explicit arbitrage mechanism none of the

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A Which of the following applies to Exchange Traded Funds? their shares trade on exchanges and there is no explicit arbitrage mechanism none of the answers listed here. their shares are issued and redeemed at the sponsoring firm at the closing NAV. their shares trade on exchanges and there is an explicit arbitrage mechanism. B

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