QUESTION 25

1. Atlas Fund had year-end assets of $459 million and liabilities of $21 million. If the NAV was $28.25, how many shares were there?

   		a. 15,504,425.
   		b. 15,907,625.
   		c. 16,001,225.
   		d. 16,247,788.

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.