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Federal Reserve Bank of Boston Economic Quiz
Mutual Friends
1. Which of the following is NOT an advantage of mutual funds compared to the direct purchase of stocks or bonds:
Diversification
Performance
Professional management
Cost
2. In which state were most of the first American mutual funds founded?
Massachusetts
Pennsylvania
New York
California
3. How many billions of dollars are invested in the single largest mutual fund in the U.S. (ranked by total net assets, as of 5/28/04)?.
$4.3 billion
$6.6 billion
$12.7 billion
$21.9 billion
4. When did the mutual fund industry set a record with its highest total assets invested?
March 1999
August 2000
March 2002
February 2004
5. What is meant by the term no-load in reference to a mutual fund?
The mutual fund company does not charge shareholders any fees.
The mutual fund company does not charge shareholders any sales commissions on securities purchases made by the fund.
The mutual fund does not contain high-risk securities.
The mutual fund has no limits on when the fund's shares can be bought and sold.
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Economic quiz written by: Matt Rutledge - June 2004