A(n)________ is a fixed pool of securities,generally municipal bonds,with each unit representing a proportionate ownership in that pool.
A)open-end investment company
B)closed-end mutual fund
C)unit investment trust
D)real estate investment trust

Question

Quizplus · Accepted Answer

A unit investment trust is a type of investment company that pools together fixed-income securities such as municipal bonds. Each unit represents a proportional ownership in the pool, with the trust having a fixed number of units outstanding. Unlike open-end investment companies and closed-end mutual funds, unit investment trusts do not actively manage the portfolio holdings and are often designed to have a specific maturity date. Real estate investment trusts, on the other hand, invest in properties and generate income through rent or sale of properties.

A(n)________ Is a Fixed Pool of Securities,generally Municipal Bonds,with Each