Which of the following is not a characteristic of a closed-end mutual fund?
A) Once the fund closes the shares of the fund trade on the stock market just like a stock.
B) The shares may sell above NAV on the secondary market.
C) Investors can easily sell their share back to the fund on a daily basis at NAV.
D) The shares may sell below NAV on the secondary market.
Answer: C
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a. True b. False
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