Open end mutual funds may charge which of the following fees?
I. A front-end load at the time of purchase.
II. A back-end load when shares are sold.
III. Annual fees based on marketing and distribution costs.
IV. Annual performance fees up to 20% of increases in net asset value.
A) I, II and IV only
B) I, II, and III only
C) I, III and IV only
D) I, II, III and IV
Answer: B
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