An unmanaged fixed-income security portfolio handled by an independent trustee is known as a:
A) junk bond fund.
B) closed-end investment company.
C) unit investment trust.
D) hedge fund.

Question

Quizplus · Accepted Answer

A unit investment trust (UIT) is a fixed portfolio of securities, typically bonds, that is unmanaged and held by an independent trustee.

An Unmanaged Fixed-Income Security Portfolio Handled by an Independent Trustee