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Which of the following are true regarding exchange traded funds (ETFs)? A. have bid prices greater than their ask prices B. are only actively managed

Which of the following are true regarding exchange traded funds (ETFs)?

A. have bid prices greater than their ask prices

B. are only actively managed

C. are tax efficient because they are not subject to the tax of the municipality in which they are issued

D. are redeemed at net asset value

E. can be bought and sold on margin

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