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Exam Series 7 topic 1 question 297 discussion

Actual exam question from FINRA's Series 7
Question #: 297
Topic #: 1
[All Series 7 Questions]

Which of the following statements about mutual fund fees is accurate?

  • A. the management group receives a fee based upon the amount of assets in the fund
  • B. the sponsor receives a management fee for buying and selling the fund’s portfolio securities
  • C. the management group receives part of the sales charge in addition to a management fee
  • D. the custodian receives part of the management fee in addition to a fee for safekeeping of the fund’s securities
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Suggested Answer: A 🗳️
the management group receives a fee based upon the amount of assets in the fund. The management fee is based upon the funds assets. The sale charge in choice C is received by the fund sponsor (underwriter), which could include the management group but not necessarily.
by lolojepu at April 6, 2025, 2:16 a.m.

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