Valid CFA-Level-I Dumps shared by ExamDiscuss.com for Helping Passing CFA-Level-I Exam! ExamDiscuss.com now offer the newest CFA-Level-I exam dumps, the ExamDiscuss.com CFA-Level-I exam questions have been updated and answers have been corrected get the newest ExamDiscuss.com CFA-Level-I dumps with Test Engine here:
What is the Net Asset Value of a fund that has the following information? Total Fund Shares Outstanding: 5,325,000 Total Market Value of Fund: $78,500,000 Portfolio Annual Fund Expenses: $1,850,000
Correct Answer: A
The NAV equals the total market value minus expenses divided by the number of outstanding shares. In this situation the total market value of a fund portfolio is $78,500,000 and has $ 1,850,000 in expenses per year. Also, assume that there are 5,325,000 shares outstanding. Fund NAV = [(Total Market Value of Fund Portfolio) - (Fund Expenses)] /(Total Fund Shares Outstanding) NAV = ($78.5 - $1.85) / 5.325 = $14.39