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A fund's transfer agent is responsible for:
I. calculating and distributing the capital gain and dividend income of the fund.
II. mailing shareholder account statements.
III. paying fund expenses.
A. I only
B. I and II only
C. II only
D. I, II, and III
Answer: B
Explanation:
A fund's transfer agent is responsible for calculating and distributing the capital gain and
dividend income of the fund and mailing shareholder account statements. The fund's custodian is
responsible for paying fund expenses.
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