[Series 65] 30, Closed-End Funds and UITs

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Closed-end funds issue a fixed number of shares in an IPO and then trade on the secondary market like a stock. - A closed-end fund's market price is driven by supply and demand, often causing it to trade at a premium or discount to its Net Asset Value (NAV). - Unit Investment Trusts (UITs) feature a fixed, unmanaged portfolio of securities and have a predetermined termination date. - Unlike closed-end funds, UIT units are not traded on an exchange; instead, they are redeemable with the trust sponsor. - A key exam distinction is that closed-end funds are actively managed, whereas UITs have a static, supervised portfolio. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep