1. Delta Fund invests in equity securities that have above average dividend yields and invests in fixed-income securities that have relatively high coupon rates. Delta would most likely be characterized as a(n):
   1. Growth fund.
   2. Income fund.
   3. Growth and income fund.
   4. Sector fun
2. Which of the following considerations are important for investors to consider in selecting a mutual fund?

I. Sales charges, fees, and 12b1 charges.

II. Their services, such as the ability to make regularly scheduled purchases or withdrawals.

III. The size of the fund.

IV. Whether the board has independent directors

2. 1. I and IV
   2. I, II, and III.
   3. I, II, and IV.
   4. All are important considerations.
3. All of the following are correct regarding common stock ownership, except:
   1. Owners of common stock have the right to vote on corporate matters.
   2. With very few exceptions, shareholders are protected from personal liability from corporate obligations.
   3. Shareholder voting can be done in person or by proxy.
   4. When a corporation dissolves, the common stockholders are the first to be paid from the assets of the company.