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Portfolios 405: Closed-end Funds vs Mutual Funds and Exchange-Traded Funds

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1.
What trait do closed-end funds and exchange-traded funds have in common?
Choose wisely. There is only one correct answer.
They all have underlying portfolios with net asset values. The other choices are false.
2.
Which investment can employ leverage by issuing preferred shares?
Choose wisely. There is only one correct answer.
Closed-end funds. Closed-end funds can issue preferred shares, but exchange-traded funds cannot.
3.
Which investments are priced only once a day at market close?
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Mutual funds. Exchange-traded funds are not priced in this manner.
4.
Which vehicle does not continuously offer new shares?
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Closed-end funds. The other two do.
5.
Which investments have a portfolio of investments with a net asset value?
Choose wisely. There is only one correct answer.
Both of the above. They share this trait, though differ in many others.