1. Johnson fund has an offer price of $75 and sells at a 4% discount. What is the fund's net asset value?
78.13
78
72.11
72
76.12
2. True/False
-Actively managed mutual funds are designed to outperform a particular benchmark.
-Back-end loads can be used to disincentivize short-term investing.
-Mutual funds allow investors to shift the security selection process to professional money managers.