What is the maximum annual 12b-1 fee for a no-load fund?

	A.	1.00%
	B.	0.75%
	C.	0.50%
	D.	0.25%

Melissa purchased 1,000 shares of DDD common stock at $42 per share on January 4. On January 4 of the following year, Melissa sold the shares at $46 per share. Which TWO of the following are true?

i) It will be taxed as short-term capital gain

ii) It will be taxed as long-term capital gain

iii) The gain will be taxed at Melissa's tax bracket

iv) The gain will be taxed at a maximum of 20%

	A.	i and iii
	B.	i and iv
	C.	ii and iii
	D.	ii and iv

All of the following are included in the expense ratio of a mutual fund EXCEPT:

	A.	12b-1 fees
	B.	Sales charges
	C.	Board of Director salaries
	D.	Management fees

Bearish strategies include:

i) Selling short

ii) Buying put options

iii) Selling uncovered call options

iv) Selling covered call options

	A.	i and iv
	B.	ii and iv
	C.	i, ii and iii
	D.	i, ii and iv