Series 7 - General Securities Representative Exam
An investor instructs his broker to sell his mutual fund at the POP right away during market hours. What does the broker tell the investor?
You can sell at the POP, but the fund only trades once per day; at 4PM ETA
You can only sell at the NAV; and the fund trades once per day; at 4PM ETB
You can sell at the POP or the NAV; just the commission will be differentC
Why would you want to sell at the POP when you can sell at the NAV?D
Investors buy at the POP and sell at the NAV. Mutual funds trade once per day; at 4PM ET; at the published NAV