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Basic Question 3 of 15
Which of the following are characteristics of a closed-end fund?
II. Investors can not always buy shares directly from the fund.
III. Investors can not sell shares directly to the fund.
I. Fixed number of shares
II. Investors can not always buy shares directly from the fund.
III. Investors can not sell shares directly to the fund.
User Contributed Comments 5
| User | Comment |
|---|---|
| woori | easy one! Do not miss! |
| cong | closed-end shares need to be resold or repurchased in secondary markets (such as NASDAQ) |
| johntan1979 | "always" in II is confusing and redundant... should be omitted. |
| Bududeen | The always is important because at first instance, the investor has to get the shares from the funds... just like in the primary market and then trade among themselves in the secondary mkt. |
| Shaan23 | Easy one. I got it wrong. Did not choose II. Tricky at first glance |
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Martin Rockenfeldt
Learning Outcome Statements
describe mutual funds and compare them with other pooled investment products
CFA® 2025 Level I Curriculum, Volume 6, Module 3.