Series 7 - General Securities Representative Exam

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Which of the following statements are TRUE regarding the difference between ETNs and ETFs?

ETNs are baskets of stocks, ETFs are broadly diversified mutual funds
A
ETNs represent unsecured corporate debt. ETFs represent equity ownership
B
ETFs trade only once per day; at the NAV. ETNs trade intraday on different ECNs
C
ETNs trade in higher average volume than ETFs
D

Explanations

ETNs are exchange traded notes (debt). ETFs are exchange traded funds (equity)