1. The share of assets controlled by bank holding companies (BHCs) has ________ over the past two decades. The total number of firms organized as BHCs has _______ over the past two decades.
increased; increased
increased; decreased
decreased; increased
decreased; decreased
2. ABC is a mutual fund. Suppose today’s total market value of the stocks held by ABC is $50 million, dividends received today are $500,000, and the expenses incurred today are $300,000. If the number of shares of ABC is 2 million, how much is the NAV of ABC?
$25
$25.1
$32
$50
$50.2
3. XYZ is a closed-end fund. If XYZ’s NAV is $50 and market price is $45, it is selling at a ____.
10% discount
11% discount
15% discount
10% premium
15% premium