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Funds 102: Net Asset Value

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1.
The public offering price of a mutual fund share is the _______ plus the load.
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Net asset value. Public offering price = NAV + load.
2.
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.
3.
A closed-end fund with a net asset value of 11 and a price of 12 is selling at a discount.
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False. It is selling at one dollar above its net asset value.
4.
In a mutual fund table, the "YTD%" column shows the _______.
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Change in net asset value. "YTD%" is the percent change of NAV of the year to date.
5.
Net asset value is the price you pay for a share of a mutual fund.
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False. It is the value of a share, and it is the price you get when you redeem a share. If the fund is a load fund, you must pay a sales charge in addition to the net asset value.