Which of the following statements is incorrect?
A)A mutual fund is usually run by an investment company.
B)Although many mutual funds have grown substantially over time, their expense ratios have generally increased over time.
C)For each mutual fund, all expenses charged and reflected in the expense ratio are always valid.
D)The SEC requires that a majority of the directors of a mutual fund board be independent.

Question

Quizplus · Accepted Answer

The expenses charged to a mutual fund and reflected in the expense ratio may not always be valid or justified, as they can sometimes include unnecessary or excessive fees.

Which of the Following Statements Is Incorrect