Aeron owns shares of a mutual fund and decides to purchase additional shares. After making the purchase he notices that he was charged a 3 percent commission. Aeron's mutual fund can best be described as a(n) _______ fund.
A) exchange-traded
B) hybrid
C) load
D) asset
E) no-load

Question

Quizplus · Accepted Answer

A mutual fund that charges a commission for buying or selling shares is known as a load fund. The 3 percent commission Aeron was charged indicates that he purchased shares of a load fund.

Aeron Owns Shares of a Mutual Fund and Decides to Purchase