Sec 2.1

Question 1

Do not trade in the secondary market, shares are redeemable

Accepted Answer

Open-end

Question 2

Are sold with prospectus during IPO only

Accepted Answer

Closed-end

Question 3

Ex-date is set by the board of directors

Accepted Answer

Open-end

Question 4

Usually called mutual funds

Accepted Answer

Open-end

Question 5

Trades in the secondary market

Accepted Answer

Closed-end

Question 6

Issues a fixed number of shares

Accepted Answer

Closed-end

Question 7

Selling price usually includes a sales charge

Accepted Answer

Open-end

Question 8

May issue common stock, preferred stock and bonds

Accepted Answer

Closed-end

Question 9

Price is set by supply and demand

Accepted Answer

Closed-end

Question 10

Investors may purchase fractional shares

Accepted Answer

Open-end

Questions 10