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FINRA Series 6

Category - Series 6

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The MaxFee Mutual Fund has a front-end load of 8.5%. If its net asset value (NAV) per share is currently $32, for what price can an investor buy shares of the fund?(Round your answer to the nearest cent.)

$29.49
$34.97
$34.72
$29.28

Explanation

Answer: B - If the MaxFee Mutual Fund has a front-end load of 8.5% and a net asset value per share of $32, an investor can buy shares of the fund at its offer price of $34.97. Offer price = NAV/(1 - % load) = $32/(1 - 0.085) ≈ $34.97.

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