What is the TAX EQUIVALENT YIELD of a municipal bond yielding 5% to an investor with a marginal tax rate of 30%?

An Exchange Traded Fund (ETF) will always trade in the market at a price equal to its Net Asset Value?

True

False

You short 100 shares of DUMDUMB inc at $60. You cover the SHORT when the stock is trading at $42. What is your TOTAL PROFIT OR LOSS?

A friend has asked you to explain the differences between open-end and closed-end funds. Which of the following will you most likely include in your explanation?

Group of answer choices

When investors sell the shares of an open-end fund, they can receive a discount or premium to the fund's net asset value.

When selling shares, investors in an open-end fund sell the shares back to the fund whereas investors in a closed-end fund sell the shares to others in the secondary market.

Closed-end funds are unavailable to new investors.