All of the following statements are correct regarding UITs except:

		a. For UITs that contain only fixed-income securities, the maturity date is usually determined using the longest term bond.
		b. A UIT typically makes a one-time public offering of only a specific, fixed number of units.
		c. Many UIT sponsors maintain a secondary market for liquidity purposes, which allows owners of UIT units to sell them back to the sponsors and allows other investors to buy UIT units from the sponsors.
		d. The authorized participant transfers the shares into the UIT and receives creation units, which are typically 50,000 share blocks.