QUESTION 16

1. Monica purchased 100 shares of NOLA mutual fund at a price of $25 per share at the beginning of the year and paid a front-end load of 4.5%. The securities in the fund increased in value by 11% during the year and the funds expense ratio was 1.2%. What was Monicas annual return for this year assuming she were to sell at year end?

   		a. 4.50%.
   		b. 4.85%.
   		c. 5.30%.
   		d. 9.80%.

QUESTION 26

1. Most actively managed mutual funds, when compared to a market index:

   		a. Beat the index return in all years.
   		b. Beat the index return in most years.
   		c. Exceed the return of the index.
   		d. Do not generally outperform the index.