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Funds 102: Net Asset Value

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1.
The net asset values of closed-end funds are calculated in the same way as those of open-end funds.
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True. Whether the funds are open-end or closed-end has no bearing on how their net asset values are calculated.
2.
If a load mutual fund is quoted with a net asset value of 35 and a buy price of 36.25, what is its sales charge?
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$1.25. The sales charge, or load, is the difference between the buy price and the net asset value.
3.
The net asset value of a no-load mutual fund is less than its offering price.
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False. It is the same as its offering price, since there is no sales charge.
4.
Which of the following is not included in the computation of a mutual fund's net asset value?
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The sales charge. Any sales charges are independent of the net asset value.
5.
When a mutual fund makes a distribution to its shareholders, it adds the per-share amount to the net asset value.
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False. It subtracts the per-share amount.