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FINRA Series 7

Category - Series 7

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A mutual fund characterized by a modest sales charge and an investment in a fixed portfolio of municipal securities is a:

face-amount certificate company
unit investment trust company
management company
open-end or closed-end company

Explanation

Answer: B - unit investment trust company. This is an example of a fixed trust, which is a type of unit investment trust.

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FINRA Series 7

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FINRA Series 7

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