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Which of the following is not true of the management expense ratio? Question 3 0 options: It tends to be higher for equity funds than

Which of the following is not true of the management expense ratio?

Question

30

options:

It tends to be higher for equity funds than for money market and index funds.

It is expressed as a percentage of the fund's average net asset value for the year.

It excludes trading and brokerage costs.

It is lower than the management fees.

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