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This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
In this episode you will learn:
- Open-end mutual funds continuously issue and redeem shares directly with investors.
- All mutual fund orders are subject to the forward pricing rule, executing at the Net Asset Value (NAV) calculated after the order is received, typically at the 4:00 PM market close.
- Investors buy load fund shares at the Public Offering Price (POP), which is the NAV plus a sales charge, and redeem their shares at NAV.
- The prospectus must be delivered to investors at or before the sale, while the more detailed Statement of Additional Information (SAI) is available only upon request.
- Mutual funds cannot be traded intraday because their price is set only once per day, unlike exchange-traded closed-end funds or stocks.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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