are real assets.

Multiple Choice

Stocks and bonds

Machines

Knowledge

$?$

Land, machines, and knowledge

Land

Which of the following is not an advantage of owning mutual funds?

Multiple Choice

They treat income as "passed through" to the investor for tax purposes.

None of the options are an advantage of mutual funds.

All of the options are advantages of mutual funds.

They offer small investors the benefits of diversification.

They offer a variety of investment styles.

Which of the following is not an advantage of owning mutual funds?

Multiple Choice

$(3)$

$$ They treat income as "passed through" to the investor for tax purposes.

None of the options are an advantage of mutual funds.

All of the options are advantages of mutual funds.

They offer small investors the benefits of diversification.

They offer a variety of investment styles.

A "fairly$-$priced" asset lies

Multiple Choice

$*$

above the capital$-$market line.

below the security$-$market line.

on the capital$-$market line.

on the security$-$market line.

above the security$-$market line.