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Which of the following characteristics apply to mutual funds? I. Fixed capitalization. II. Shares are bought and sold at NAV. III. Shares are redeemed by

Which of the following characteristics apply to mutual funds? I. Fixed capitalization. II. Shares are bought and sold at NAV. III. Shares are redeemed by the fund. IV. Shares are can be sold in the market.

II and III.

I, II, & III.

II, III & IV.

I, II, III & IV.

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