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When purchasing a closed-end mutual fund in the secondary market, you must:
Choose one answer.
a. pay a sales load
b. pay a commission
c. sign a letter of intent
d. be prepared to pay a surrender charge if you sell it too soon
Answer B: pay a commission

Closed-end mutual funds purchased in the secondary markets are bought through normal trading and are subject to a commission. There is no "sales load" on secondary purchases of closed-end funds.