Closed-end funds differ from open-end funds because they:

1. AOffer breakpoints on sales charges
2. BRedeem shares directly at NAV
3. CAre always passively managed
4. DTypically issue a fixed number of shares that trade on exchanges✓ Correct answer

Reading one answer is not the same as being ready

Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.

• Which characteristic is most associated with hedge funds?
• Which share class of mutual funds usually imposes a contingent deferred sales charge (CDSC)?
• Private equity funds primarily invest in:
• A 529 plan is most commonly used to fund which of the following?