A unit investment trust is a fixed pool of securities,generally municipal bonds,with each unit representing a proportionate ownership in that pool.

Name: A unit investment trust is a fixed pool of securities,generally municipal bonds,with each unit representing a proportionate ownership in that pool.
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A unit investment trust is indeed a fixed pool of securities, but they may not necessarily be municipal bonds. However, each unit represents a proportionate ownership in the pool of securities.

A Unit Investment Trust Is a Fixed Pool of Securities,generally