The MaxCharge fund has a 5% front-end load and a 12b-1 fee that is 0.25% of its average net assets. Under these conditions, any rear-end load it may have is limited to:
Explanation
Answer: D - Since the MaxCharge fund has a 5% front-end load and a 12b-1 fee that is 0.25% of its average net assets, any rear-end load it may have is limited to 3.25%. The maximum sales charge that is allowed is 8.5%, and this includes the front-end load, rear-end load, and 12b-1 fee. Since MaxCharge has a front-end load and a 12b-1 fee that totals 5.25%, its rear-end load is limited to 8.5% - 5.25% = 3.25%.
