Gordon placed a buy order for a security that represented a claim to the largest stocks in the U.S. Gordon placed the order in the morning, but the transaction price was based on the end-of-day price. Gordon purchased:
A) an S&P 500 index fund.
B) a SPDR (spider).
C) a QQQ.
D) a Viper.

Question

Quizplus · Accepted Answer

An S&P 500 index fund is a mutual fund that tracks the S&P 500 index and is priced at the end of the trading day, unlike ETFs like SPDRs, QQQs, and Vipers, which are traded throughout the day.

Gordon Placed a Buy Order for a Security That Represented