Question 1
Which characteristic best distinguishes an open-end mutual fund from a closed-end fund?
Correct Answer:
It continuously offers and redeems shares at the next computed NAV
Question 2
Which investment company type holds a fixed, unmanaged portfolio of securities and has a defined termination date?
Correct Answer:
Unit investment trust (UIT)
Question 3
Net asset value per share for an open-end mutual fund is calculated as:
Correct Answer:
(Total assets - total liabilities) divided by shares outstanding
Question 4
Under SEC Rule 22c-1, what price does an investor receive when buying open-end mutual fund shares at 2:30 p.m. ET on a normal trading day?
Correct Answer:
The next NAV calculated, typically at 4:00 p.m. ET that day
Question 5
Which document must a mutual fund deliver to investors and contains a fund's investment objectives, fees, and risks?
Correct Answer:
Statutory or summary prospectus
Question 1
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About this Exam

Prepare with the CMFC Practice Questions - CMFC Chartered Mutual Fund Counselor Exam practice quiz. This question bank includes 100 questions covering fund, mutual, investment, company, and investor. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CMFC Practice Questions - CMFC Chartered Mutual Fund Counselor Exam

This practice set contains 100 questions from the matching question bank and focuses on fund, mutual, investment, company, and investor. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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