Identify each of the following as a mutual fund, exchange-traded fund, or hedge fund. Each option will be used more than once.

1. A. Exchange-traded fund
2. B. Mutual Fund
3. C. Hedge funds

1. Trades to buy and sell both are executed at Net Asset Value.
selectABC	2. Fund shares trade on a stock exchange.
selectABC	3. Fund designed for institutions and wealthy investors
selectABC	4. Fund shares can trade at a premium or discount to Net Asset Value.
selectABC	5. The number of fund shares increase or decrease daily when investors buy or sell shares with the investment company.
selectABC	6. Fund that takes may take 20% of profits when the fund does well.
selectABC	7. The majority of these funds are passively managed, index funds.
selectABC	8. Fund shares trade only once per day.
selectABC	9. Funds often have loads when your purchase or sell a fund.
selectABC	10. Fund that frequently use derivatives and leverage to increase potential returns