QUESTION 11

1. Thunder Equity Fund invests solely in the top one-half in size of firms in the oil and gas industry. Thunder is most likely characterized as a(n):

   		a. Growth fund.
   		b. Large cap fund.
   		c. Sector fund.
   		d. Income fund.

QUESTION 12

1. An open-end mutual fund is most likely owned by:

   		a. The shareholders in the fund.
   		b. A family of funds mutual fund company.
   		c. The investment advisory firm.
   		d. The investment company.