Each of the following is true of Mutual Funds EXCEPT:

Question $25$Select one:

a$.$

Funds can be classified as load or no$-$load funds.

b$.$

Mutual Fund shares must be bought from or sold to the Fund by investors.

c$.$

An index fund is the fund with the highest expenses payable by investors.

d$.$

The NAV is the total value of stock held by the fund divided by the number of outstanding shares in the mutual fund.