Under the Investment Company Act of 1940, which of the following is not a formal classification ...

By Investopedia Staff AAA
Q:
Under the Investment Company Act of 1940, which of the following is not a formal classification?
a) Unit Investment Trust
b) Face Amount Certificate Company
c) Management Investment Company
d) Mutual Fund
A:

The correct answer is d.
A mutual fund is technically registered under the ’40 Act as an open-end management investment company. It is a sub-category of the formal classification; Management Investment Company. All the others are classifications.


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