A closed-end investment company has a single (not continuous) offering of shares, sells full shares only, may issue both stock and debt securities, and has an ex-dividend date determined by a self regulatory organization (SRO), not by its board of directors.

Training Mode

Unit 1 Unit 2 Unit 3 Unit 4

A closed-end investment company:

Has a single offering of shares. May issue common and preferred stocks and debt securities

Has a single offering of shares. Sells full and fractional shares. May issue common and preferred stocks and debt securities

Sells full and fractional shares. Has an ex-dividend date that is set by the board of directors

Has an ex-dividend date that is set by the board of directors