Question: a. Describe the following: front-end load, back-end load, level load, 12b-1 fee, management fee. b. Why do mutual funds have different classes of shares? c.

a. Describe the following: front-end load, back-end load, level load, 12b-1 fee, management fee. b. Why do mutual funds have different classes of shares? c. What are the advantages of an ETF relative to open-end and closed-end investment companies?

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