Series 6 - Investment Company And Variable Contracts Products Representative Exam
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The XYZ Fund has total assets of $500 million and $15 million in liabilities. If it has 25 million shares outstanding, what is the fund's NAV per share?
$1.94
A
$194.10
B
$19.40
C
$1,941.00
D
Explanations
Net assets: $500 million - $15 million = $485 million. NAV: $485 million / 25 million shares = $19.40 per share