An open-end fund has stocks of three companies: 200 shares of RIM currently valued at $50, 100 shares of Ballard currently valued at $20, and 100 shares of Talisman Energy currently valued at $30. Annual operating expenses are $2,500. Management fees for the year are $4,000. The fund has 500 shares outstanding. What is the net asset value (NAV) of this fund? ____ A) $12 B) $17 C) $25 D) $30 Closed-end investment companies ____ A) Have a fixed number of share B) Can trade at a price that is greater than, equal to, or less than the NAV C) Both (A) and (B) D) Neither (A) nor (B) Hedge funds ____ A) Are high risk because they are market-neutral B) Are low risk if they buy treasury bonds C) Are low risk because they hedge their investments D) Are high risk even though they may be market-neutral Money market mutual funds (MMMFs) ____ A) Are subject to loss of principal if interest rates rise B) Are protected by CDIC for the first $100,000 in each account C) Are invested in Canadian government securities D) Are free from Ontario Securities Commission (OSC) regulations