SIE Exam Question 1004: Answer and Explanation

Question: 1004

Which of the following is the formula to calculate a mutual fund's turnover rate?

  • A. Turnover rate = Gross proceeds from sale of securities ÷ NAV
  • B. Turnover rate = Gross proceeds from sale of securities - NAV
  • C. Turnover rate = Gross proceeds from sale of securities + NAV
  • D. Turnover rate = NAV ÷ Gross proceeds from sale of securities

Correct Answer: A

Explanation:

Mutual fund turnover rate = Gross proceeds from sale of securities ÷ NAV

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