CMFC Practice Questions - CMFC Chartered Mutual Fund Counselor Exam

Which characteristic best distinguishes an open-end mutual fund from a closed-end fund?

It trades intraday on a stock exchange at a market price It continuously offers and redeems shares at the next computed NAV It holds a fixed portfolio of securities until a defined termination date It is sold only to accredited investors under a private-placement exemption

Correct Answer:

It continuously offers and redeems shares at the next computed NAV

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