Series 7 Exam Question 186: Answer and Explanation

Question: 186

Mutual fund account statements must be sent out at least

• A. monthly
• B. quarterly
• C. semiannually
• D. annually

Correct Answer: C

Explanation:

C. Mutual fund account statements must be sent out at least semiannually (once every 6 months). However, if there was any trading done in the account, a statement must be sent out that month.