Pooled Investments and Derivatives

Free NASAA Series 65 (Uniform Investment Adviser Law Examination) lesson in Investment Vehicle Characteristics. 22 min read, ~3,278 words.

Open-end funds price at NAV (forward pricing); closed-end funds trade at market price (premium or discount to NAV). 12b-1 fees are ongoing distribution costs capped at 1%. Class A front-end load, Class B back-end CDSC, Class C level load. REITs must distribute at least 90% of taxable income; dividends taxed...