The Jerry Fund,which trades on the New York Stock Exchange,has a NAV of $20 and a market price of $22.We know,then,the fund is
A)open end with a front-end load.
B)open end with a rear-end load.
C)closed end,selling at a discount.
D)closed end,selling at a premium.

Question

Quizplus · Accepted Answer

The fact that the market price is higher than the NAV indicates that the fund is selling at a premium, which is a characteristic of a closed-end fund.

The Jerry Fund,which Trades on the New York Stock Exchange,has