Multiple choice

The investor is given which of the following as proof of purchase?

  1. Unit certificates

  2. An account statement

  3. A pass book

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In modern mutual fund operations, investors receive account statements as proof of purchase. Unit certificates were used historically but have been largely discontinued in favor of dematerialized holdings and electronic record-keeping, making account statements the standard proof of investment.

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