investor with 1,000 shares of the Amazing Growth
fund places a redemption order for the shares before
the close of the market on June 18th. In the financial
pages of her local morning newspaper, dated June
21st, she sees the following information about
her fund. BID: $15.00 -- ASK: $16.00. If the fund
charges a 1% redemption fee, her redemption proceeds
The correct answer is a.
The investor placed her redemption order before the close of the market on Friday, so she will redeem at that day’s closing price. The morning newspaper for the following Monday will show Friday’s closing prices. The investor redeems at the BID (or NAV) next computed after the order is placed--forward pricing. The fund charges a 1% redemption fee, therefore: 1,000 shares × $15.00 = $15,000 × 1% = $150.00 redemption fee. $15, 000 - $150 = $14,850.
The correct answer is b. Any time the actual growth rate of the separate account exceeds the account’s AIR, the payment will ...
The correct answer is a) Spinning is the act of selling hot issues to the personal accounts of corporate officers which in ...
The correct answer is A) In a Roth IRA, there is no required distribution date as there is in a traditional IRA.
Free info on financial certification exams including study guides, exam questions, and much more!
A examination to ensure a candidate is qualified to become a ...
A person who prepares investigative reports on equity securities. ...
An exam required for individuals seeking to engage in off-exchange ...
One who provides financial advice or guidance to customers for ...
An exam offered by the Financial Industry Regulatory Authority ...
An exam given by the Financial Industry Regulatory Authority ...