Question 11 (2.5 points)

A loading fee charged by a mutual fund does not apply to a closed-end investment company.

Question 11 options:

	a) True
	b) False

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Question 12 (2.5 points)

A closed-end investment company is not a "mutual fund."

Question 12 options:

	a) True
	b) False

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Question 13 (2.5 points)

Closed-end investment companies with beta coefficients less than 1.0

Question 13 options:

a)	have outperformed the market

b)	have underperformed the market

c)	have more systematic risk than the market

d)	have less systematic risk than the market

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Question 14 (2.5 points)

A hedge fund

Question 14 options:

a)	is a public financial institution

b)	has its shares registered with the Federal Reserve

c)	is open to a select number of individual investors

d)	has actively traded shares

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Question 15 (2.5 points)

An equity REIT does not use financial leverage (i.e., its financing is entirely equity).

Question 15 options:

	a) True
	b) False

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Question 16 (2.5 points)

Real estate investment trusts (REITs) are illustrative of a closed-end investment company.

Question 16 options:

	a) True
	b) False

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Question 17 (2.5 points)

A unit trust is a passive investment that holds a fixed portfolio of securities such as federal government bonds.

Question 17 options:

	a) True
	b) False

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Question 18 (2.5 points)

A mortgage trust is a REIT that specializes in mortgage loans.

Question 18 options:

	a) True
	b) False

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Question 19 (2.5 points)

Hedge funds are sold primarily to high net worth investors and financial institutions such as pension plans.

Question 19 options:

	a) True
	b) False

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Question 20 (2.5 points)

Hedge fund strategies may include buying one stock while shorting another.

Question 20 options:

	a) True
	b) False