One of the advantages of being a limited partner in a real estate investment venture is that you have __________ liability.

• A.no financial
• B.unlimited financial
• C.limited financial
• D.implied

The average management fee for all mutual funds is:

• A.less than 0.25%.
• B.0.25% to 0.50%.
• C.0.50 to 1.25%.
• D.1.25to2.50%.

Owen Cartwright has joined a real estate syndicate that bought an office building in downtown Orlando, Florida. What type of investment does he hold?

• A.Direct investment in real estate
• B.Indirect investment in real estate
• C.Investment in precious metals
• D.Investment in collectibles

A mutual fund in which shares are issued only when the fund is organized is called a(n) __________ fund.

• A.closed-end
• B.open-end
• C.load
• D.no-load

You can avoid storage and assaying problems by investing in:

• A.gold wafers.
• B.gold bars.
• C.gold bullion.
• D.gold bullion coins.

Sharon Tate has a mutual fund and she has all dividend income and capital gains income used to purchase additional shares in her mutual fund. Which of the following plans is she using?

• A.A regular account transaction
• B.A voluntary savings plan
• C.A contractual savings plan
• D.Areinvestmentplan

The commission charge for purchasing shares of a load fund that imposes an up-front commission charge is __________ percent.

• A.1 to 2
• B.2 to 4
• C.5 to 6 1/2
• D.as high as 8 1/2

The Capitalist Mutual Fund's portfolio is valued at $45 million. The fund has liabilities of $3 million, and the investment company sponsoring the fund has issued 1,600,000 shares. What is the fund's net asset value?

• A.$100
• B.$26.25
• C.$52.50
• D.$3.75

The most popular and least complicated method of purchasing shares in an open-end mutual fund is through a:

• A.regular account transaction.
• B.voluntary savings plan.
• C.contractual savings plan.
• D.minimum withdrawal plan.

For residential real estate investments, the depreciation period now is __________ years.

• A.7 1/2
• B.17 1/2
• C.20 1/2
• D.27 1/2