Which of the following is a disadvantage of ETFs? Answer They cannot be bought on margin They have slippage due to bid/ask spreads They typically have higher annual expenses They cannot be bought and sold throughout the trading day None of the choices provided here are correct When attempting to predict a fund's performance, which of the following is true? Answer Fund managers are not likely to change their style over time Past performance is always indicative of future performance All of the choices provided are true None of the above High turnover usually leads to higher profit Which of the following is true of index funds? Answer They have low expense ratios They do not have management continuity issues They track the overall market or a segment of the market All of the choices provided are true They are not "actively" managed