Which one of the following statements concerning ETFs is correct?

Question

Quizplus · Accepted Answer

The ETF based on the Standard & Poor's 500 Index, commonly known as SPY, is priced at approximately 1/10th of the value of the S&P 500 Index. The other statements are incorrect as ETFs are not solely based on U.S. indexes, Spiders are actually based on the S&P 500 Index, and there is no ETF based directly on the DJIA (although there are ETFs that track the performance of the Dow Jones Industrial Average).

Which One of the Following Statements Concerning ETFs Is Correct