Practice Quiz

FINRA Series 7

Category - Series 7

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The public offering price of the securities of an open-end management investment company is:
  1. determined by a method set forth in the prospectus of the issuer
  2. based upon net asset value of the securities underlying the shares of the issuer plus a 10 % sales charge
  3. determined by the relative demand for the shares of the issuer
  4. the price used by distributors in determining sales incentive discounts to individual purchasers
Explanation
Answer: A - determined by a method set forth in the prospectus of the issuer. The method is described in the prospectus. It uses the net asset value plus any sales charge
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