A mutual fund has the following share characteristics: Shares are offered at the NAV with no front-end load,a 12b-1 fee of 1 percent is charged,a back-end load of 1 percent is charged only if the shares are sold by the investor within one year of purchase,and the shares do not convert to any other class of shares.These shares would be classified as

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These shares would be classified as Class C shares. Class A shares typically have a front-end load, while Class B shares have a back-end load that gradually decreases over time. Class D shares typically have no loads but may have higher expense ratios. As these shares have no front-end load, a 12b-1 fee of 1 percent, and a back-end load of 1 percent only if the shares are sold within one year, they fit the characteristics of Class C shares.

A Mutual Fund Has the Following Share Characteristics: Shares Are