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NEW QUESTION: 1
Which of the following statements regarding a unit investment trust (UIT) is false?
A. UITs are actively managed.
B. Shares of UITs trade on exchange floors.
C. All UITs are established with a termination date.
D. A UIT has a fixed number of shares.
The statement that UITs are actively managed is the false statement. All UITs are passively
managed. They do have a fixed number of shares that may either be redeemed through the trust or traded
on exchange floors, and all UITs are established with a termination date.