SIE practice questionmediumMutual Funds - NAV
A mutual fund has $150 million in assets, $10 million in liabilities, and 7 million shares outstanding. What is the NAV per share?
- A$21
- B$19
- C$20✓ Correct answer
- D$22
Explanation
Why C — $20
NAV = (assets - liabilities) / shares outstanding = ($150M - $10M) / 7M = $20 per share.
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