Each of the following is true of Mutual Funds EXCEPT
A) Funds can be classified as load or no-load funds.
B) Mutual Fund shares must be bought from or sold to the Fund by investors.
C) An index fund is the fund with the highest expenses payable by investors.
D) The NAV is the total value of stock held by the fund divided by the number of outstanding shares in the mutual fund.
Answer: C
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Fill in the blank(s) with the appropriate word(s).
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