Answer: E Difficulty: Easy Rationale: Mutual funds are attractive to investors because they offer all of the listed services.

Answer: E Difficulty: Easy Rationale: Mutual funds are attractive to investors because they offer all of the listed services. A) Record keeping and administration B) Diversification and divisibility C) Professional management D) Lower transaction costs E) All of the above. 4. Which of the following functions do mutual fund companies perform for their investors? A) Record keeping and administration B) Diversification and divisibility C) Professional management D) Lower transaction costs E) All of the above. 5. Multiple Mutual Funds had year-end assets of $457,000,000 and liabilities of $17,000,000. There were 24,300,000 shares in the fund at year-end. What was Multiple Mutual”s Net Asset Value? A) $18.11 B) $18.81 C) $69.96 D) $7.00 E) $181.07 Answer: A Difficulty: Moderate Rationale: (457,000,000 – 17,000,000) / 24,300,000 = $18.11 6. Diversified Portfolios had year-end assets of $279,000,000 and liabilities of $43,000,000. If Diversified”s NAV was $42.13, how many shares must

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