Explain why closed-end funds can sell at prices other than the fund's NAV
What will be an ideal response?
Answer: Closed-end funds have a set amount of shares outstanding. The market price is determined by the economic forces of demand and supply, which are in turn affected by changes in the NAV, the market outlook, and investor expectations. Beyond normal competitive pressures, other factors that lead to discounts (and premiums) include the fund's relative performance, its annual payout or yield, the name recognition of the fund's manager, fund asset liquidity, and/or a substantial amount of unrealized appreciation in the fund's portfolio.
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One type of trust is ________-based trust that exists because the parties effectively understand and appreciate each other's wants; this mutual understanding is developed to the point that each can effectively act for the other.
Fill in the blank(s) with the appropriate word(s).
Which of the following is something an employer could require of employees in the United States?
a. Force employees to participate in an office Christmas celebration. b. Ban employees from wearing Muslim headscarves but allow one to wear a Jewish yarmulke. c. Ban employees from wearing Muslim headscarves. d. Disallow all employees from decorating their office spaces for religious holidays.
Cost of goods sold / Average inventory is the formula for which of these analytical measures?
a. rate earned on total assets b. number of days' sales in inventory c. inventory turnover d. current ratio
Which one of the following informal research methods may help public relations practitioners detect negative rumors about the organization before they spread too far?
A. Organizing community forums D. Reading field reports B. Analyzing newspaper content E. Observing personal contacts C. Monitoring social media