Which of the following characteristics apply to unit investment trusts?

I. They have termination dates

II. They are actively-managed portfolios

III. The sponsor pools securities, then sells public shares in the trust

IV. The portfolio is fixed for the life of the fund

	A.	I and IV
	B.	I and II
	C.	I, III, and IV
	D.	I, II, and III
	E.	I, II, III. and IV