Series 6 Flash Quiz – Mutual Fund Focus

🧾 Series 6 Flash Quiz – Mutual Fund Focus
📘 Test Your Knowledge of Mutual Funds with Rapid-Fire Practice Questions

The Series 6 exam covers mutual funds extensively, as they are a core product sold by investment company representatives. Use this flash quiz to quickly test your understanding of mutual fund characteristics, fees, share classes, and suitability. Perfect for a 10-minute study sprint!

🔢 Instructions:

• Answer each question in under 45 seconds
• Mark your responses and check the answer key at the bottom
• Focus on recall speed and concept clarity

🧠 Flash Quiz – Mutual Fund Concepts

1. What type of mutual fund share class typically has a front-end sales charge?

A) Class A
B) Class B
C) Class C
D) No-load fund

2. Mutual fund NAV is calculated:

A) Every time a share is traded
B) Once daily at market open
C) Once daily after market close
D) Weekly by the transfer agent

3. A mutual fund’s expense ratio includes all of the following EXCEPT:

A) Management fees
B) 12b-1 marketing fees
C) Trading commissions
D) Custodial expenses

4. Which type of mutual fund share class converts to Class A over time and avoids front-end loads?

A) Class A
B) Class B
C) Class C
D) No-load

5. The POP (Public Offering Price) of a mutual fund equals:

A) NAV minus sales charge
B) NAV + management fee
C) NAV + sales charge
D) NAV multiplied by turnover ratio

6. Mutual funds are priced using which method?

A) Continuous pricing
B) Market-driven bid/ask
C) Forward pricing
D) Static pricing at NAV

7. A client wants short-term access and low ongoing fees. Which share class is least appropriate?

A) Class C
B) Class A
C) Class B
D) No-load

8. A mutual fund’s turnover ratio reflects:

A) The fund’s sales volume
B) The number of fund shares traded
C) How frequently portfolio holdings change
D) How often investors buy or sell shares

9. What document must be offered before or at the time of sale of a mutual fund?

A) Confirmation statement
B) Quarterly report
C) Prospectus
D) Statement of Additional Information (SAI)

10. Mutual funds are best suited for investors who:

A) Want leveraged exposure to markets
B) Prefer active daily trading
C) Seek diversification and professional management
D) Need protection against market losses

✅ Answer Key

1. A – Class A shares have front-end loads.
2. C – NAV is calculated once daily after market close.
3. C – Trading commissions are not included in the expense ratio.
4. B – Class B shares convert to A over time and defer sales charges.
5. C – POP = NAV + sales charge.
6. C – Mutual funds use forward pricing (next NAV).
7. C – Class B shares often have back-end loads and high deferred costs.
8. C – Turnover ratio shows portfolio activity, not investor activity.
9. C – Prospectus must be delivered at or before sale.
10. C – Mutual funds are for diversification + management, not leverage or trading.

🎓 Score Yourself:

• 9–10 correct: Excellent! You’ve mastered mutual fund essentials.
• 7–8 correct: Strong foundation—review the details of share classes and fees.
• 5–6 correct: Reinforce NAV pricing, suitability, and expense structure.
• Below 5: Focus on fund documents, share classes, and pricing methodology.

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