A(n) ____ is a closed-end investment company that makes a one-time public offering of only a specific,fixed number of units of investments in bonds.

Question

Quizplus · Accepted Answer

A unit investment trust (UIT) is a type of closed-end investment company that pools money from investors and uses the money to purchase a fixed portfolio of bonds. A UIT makes a one-time public offering of only a specific, fixed number of units of investment in bonds, and the units trade on a secondary market. The portfolio of the UIT is fixed for the life of the trust, and the trust has a set termination date.

A(n) ____ Is a Closed-End Investment Company That Makes a One-Time