Which of the following is NOT a reason that a mutual fund would be holding cash/liquid ETFs?

a. The stock and bond markets are both volatile

b. The ETF market is volatile

c. To be able to take advantage of market opportunities that might present themselves

d. To facilitate redemption requests from shareholders

2. When comparing the performance of two or more mutual funds, an investor should:

a. Always avoid the fund with the higher fees

b. Avoid the fund with the lower beta

c. Compare the funds on how they performed in relation to the market performance

d. Compare the funds in terms of their returns and their stated investment objectives