Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following statements is pertinent to closed-end investment companies?
  1. they are continuously issuing new shares
  2. they are prohibited from issuing any securities other than common stock
  3. their shares are traded at prices determined in the open market
  4. their shares are redeemable at net asset value
Explanation
Answer: C - their shares are traded at prices determined in the open market. The other choices describe open-end investment companies.
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