QUESTION 1

The World Income Appreciation Fund has current assets with a market value of $4.8 billion and has 130 million shares outstanding. What is the net asset value (NAV) for this mutual fund?

QUESTION 2

The Madura HiGro Fund has a net asset value of $50 per share. It charges a 3.8 percent load. How much will you pay for 200 shares?

QUESTION 3

The World Income Appreciation Fund has current assets with a market value of $4.5 billion and has 130 million shares outstanding. The fund has a current market price quotation of $35.31. What is the front-end load in percentages?

QUESTION 4

You are going to invest in a stock mutual fund with a 6 percent front-end load and a 1.4 percent expense ratio. You also can invest in a money market mutual fund with a 6 percent return and an expense ratio of 0.3 percent. If you plan to keep your investment for 2 years, what annual percentage return must the stock mutual fund earn to exceed an investment in the money market fund?

QUESTION 5

You invested $10,000 in a mutual fund at the beginning of the year when the NAV was $41.03. At the end of the year the fund paid $0.34 in short-term distributions and $1.21 in long-term distributions. If the NAV of the fund at the end of the year was $43.43, what was your return for the year?

QUESTION 6

A closed-end fund has total assets of $330 million and liabilities of $800,000. Currently, 20 million shares are outstanding. If the shares currently sell for $16.74, what is the percentage premium or discount on the fund? (Note: Enter premium as a positive number and a discount as a negative number.)