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1 Cards in this Set
- Front
- Back
When purchasing a closed-end mutual fund in the secondary market, you must:
Choose one answer. a. pay a sales load b. pay a commission c. sign a letter of intent d. be prepared to pay a surrender charge if you sell it too soon |
Answer B: pay a commission
Closed-end mutual funds purchased in the secondary markets are bought through normal trading and are subject to a commission. There is no "sales load" on secondary purchases of closed-end funds. |