il Verizon 7:36 PM * 70% XOPEN BOOK INVESTING EXAM.doc 1. Consider the following information. The information relates to year-end prices per share for an investment 2004 2005 S50.30 1.25 S 3.00 NAV S60.40 Dividend income S 2.30 Capital gains dist. S 4.10 a. You buy and sell at the NAV from the investment company.. What type of investment company is this Closed end with a load Closed end, no-load Open-end, no load Open-end, load b. If you purchased this fund at the end of 2004 and sold it at the end of 2005, what was your holding period return? 2. An investor has time to do a lot of investment research but only makes investments in indexed mutual funds. The investor believes the only way you can "beat the market" is with insider information and she does not use insider information because she does not want a jail cell next to Martha Stewart. This investor's philosophy is best described by what version of the EMH