Which of the following is a false statement regarding open-end mutual funds?
a. they offer investors a guaranteed rate of return.
b. they offer investors a well-diversified portfolio.
c. they redeem shares at their net asset value.
d. they offer low-cost diversification.

The correct answer is A.

Explanation:

Open-end mutual funds refers to a type of fund that pools money coming from different investors, and uses that money to invest in different business enterprises. The open-ended nature of these funds allow for new contributions and withdrawals from the pool of money, which is usually invested in a well-diversified portfolio at a very low cost to investors. However, open-end funds must keep high cash reserves because investors can withdraw their money at any time. This limits the amount of money open-end funds can invest at any given time, which means a steady rate of return can't be guaranteed.

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