1. No-loads charge no sales fee because:

A. they are legally prohibited from doing so.

B. they charge a 12b-1 fee instead.

C. they charge a redemption fee instead.

D. they have no sales force.

2. Bonds trade on an accrual interest basis. This means an investor:

A. buy a bond at any time and receive an immediate interest check

B. can buy a bond at any time and gain the interest accrued from the time of the last payment

C. can sell a bond at any time and retain the interest portion of the bond

D. can sell a bond at any time without losing the interest that has accrued