A collective investment fund (CIF), also known as a collective investment trust (CIT), is a group of ___________ accounts held by a bank or trust company. The financial institution ___________…
Question and options
A collective investment fund (CIF), also known as a collective investment trust (CIT), is a group of ___________ accounts held by a bank or trust company. The financial institution ___________ assets from individuals and organizations to ___________ a single larger, diversified portfolio.
- diverse, discounts, conceive
- different, collected, simulate
- financial, covered, synthesize
- pooled, groups, develop
Answer and explanation
Correct answer: D - pooled, groups, develop
A collective investment fund is a group of 'pooled' accounts: the institution 'groups' assets from many investors to 'develop' one larger, diversified portfolio. 'Discounts' and 'covered' do not describe gathering assets, 'collected' breaks the present tense, and one does not 'conceive', 'simulate' or 'synthesize' a real portfolio.
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