Scenario: You are 30 years old and single. You have a moderate risk investment philosophy. You are interested in long-term investing, but you do not have sufficient funds to buy a variety of investments to be fully diversified and you do not feel you have the expertise to make good choices. Read the statements and indicate whether each statement is true or false. False True Statement An important advantage of investing in a mutual fund is the convenience and ease of selecting a fund that matches your investment objectives. If you name a beneficiary, your mutual fund investment can be transferred to an heir without going through probate. A fund's exchange privilege allows a fund investor to exchange shares between different funds within the same family of funds. o o Mutual funds don't distribute dividends; rather, they generate income by creating capital gains. Given your moderate risk investment philosophy, you would be best served by investing in a mutual fund with: both a growth and an income objective. O a growth objective. an income objective