SIE Exam Dumps | Class A and Class C shares of a mutual fund differ in which of the following ways?

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FINRA.SIE.v2025-09-26.q80
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Question 20/80

Class A and Class C shares of a mutual fund differ in which of the following ways?

A. The expense ratio

B. The net asset value (NAV)

C. The underlying investments

D. When the customer is permitted to purchase

Correct Answer: A

Step by Step Explanation:
* Expense Ratio: Class A shares typically have lower ongoing expense ratios but higher front-end sales charges. Class C shares often have higher ongoing expense ratios but no front-end charges.
* Incorrect Options:
* B: NAV is determined daily and does not vary by share class.
* C: All share classes invest in the same underlying portfolio.
* D: Purchase timing is the same for all share classes.
References:
* SEC Guidance on Mutual Fund Share Classes:SEC Fund Classes.

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