Mutual Funds Class Replay (7/19/24). REITs, ETFs, and ETNs, too! SIE Exam, Series 6/7/65/66 Exams

Mutual Funds, REITs, ETFs and ETNs as tested on FINRA and NASAA Exams
00:00 Greetings and Salutations Test Takers
01:40 Professional Management
03:00 Largest single expense to a mutual fund is the management fee. Largest single expense to the customer is the load
04:00 Non-Systematic risk (selection risk) risk versus Systematic risk. Easiest way to avoid non-systematic risk is diversification. Easiest for retail customers to diversify is in a mutual fund.
04:58 Systematic risk prevails despite diversification
06:07 75-5-10
07:08 Open End Funds versus Closed End Funds. VERY TESTABLE!!
08:50 Must calculate NAV once per business day
09:00 "FORWARD PRICING"
13:00 NAV + Sales charge = POP. Sales charge divided by POP = percentage sales charge
14:02 Maximum sales charge is 8.5%
15:10 Ex date in an open-end mutual fund is set by the board of directors and is typically the day after the record date
18:40 "selling dividends" is an unethical business practice
19:57 A shares
22:34 When given the NAV and the POP calculate the percentage sales charge
25:14 When given the NAV and the percentage sales calculate the POP
33:20 Distribution of mutual funds shares
36:50 Maximum gift or gratuity is $100!
39:00 Breakpoints
40:15 Letter of Intent (L.O.I.). 13 months and can be backdated 90 days
46:59 Breakpoint sales are an unethical business practice
47:20 PRACTICE QUESTION
48:03 B shares
50:35 C shares
50:42 12b-1 fees .75 max for a load fund .25 for no load fund
53:05 DIE 90
55:00 REITs
56;09 DRiPs are taxable!
1:01:30 PRACTICE QUESTION
1:02:15 Dollar Cost Averaging (DCA)
1:18:40 PRACTICE QUESTION
1:20:14 ETFs versus Open End Funds. VERY TESTABLE!
1:23:20 ETNs. VERY TESTABLE!
1:24:45 PRACTICE QUESTION