Please help help with these three practice problems I'll leave a thumbs up :)

1. Advantages of investment companies to investors include all but which one of the following?

   		Record keeping and administration
   		Low cost diversification
   		Professional management
   		Guaranteed rates of return

2. Investors who wish to liquidate their holdings in a closed-end fund may ___________________.

   		sell their shares back to the fund at a discount if they wish
   		sell their shares back to the fund at net asset value
   		sell their shares on the secondary market
   		sell their shares at a premium to net asset value if they wish

3. Consider a no-load mutual fund with a beginning of year NAV of $100/share and an end of year NAV of $102/share. During the year investors have received income distributions of $2/share, and capital gains distributions of $1/share. The fund had liabilities at the end of the year of $1/share and an operating expense ratio of 1%, what is the rate of return of the fund for the year?

   		2.0%
   		3.0%
   		4.0%
   		5.0%