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FINRA Series 7

Category - Series 7

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Which of the following sets of prices is that of a closed-end investment company?

$7.50 $8.10
$10.10 $11.00
$28.14 $27.75
$20.15 $21.85

Explanation

Answer: C - NAV=$28.14 and Asked Price=$27.75. In this case the ask price is less than NAV, which is never true of an open-end investment company.

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