A mutual fund characterized by a modest sales charge and an investment in a fixed portfolio of municipal securities is a:
A)face-amount certificate company
B)unit investment trust company
C)management company
D)open-end or closed-end company

Question

Quizplus · Accepted Answer

unit investment trust company. This is an example of a fixed trust, which is a type of unit investment trust.

A Mutual Fund Characterized by a Modest Sales Charge and an Investment