SIE Exam Practice Question 401

Question: 401

Among the most significant differences between an open-end investment management company and a unit investment trust is that:

A. the open-end company has a net asset value and a UIT does not.

B. the open-end company issues redeemable securities and the UIT does not.

C. the UIT has a fixed portfolio and the open-end company does not.

D. they require different FINRA licenses for an agent to sell them.