# Series 7 Exam Prep 36, Mutual Fund Structure and NAV

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-36-mutual-fund-structure-and-nav
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-36-mutual-fund-structure-and-nav.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-07-13T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-36-mutual-fund-structure-and-nav
Audio file: https://episodes.captivate.fm/episode/53ecc8de-2794-47ad-bfe0-a27c73cd5235.mp3
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Duration seconds: 188

## Resource

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: - Open-end mutual funds continuously issue and redeem shares directly with investors. - All mutual fund orders are subject to the forward pricing rule, executing at the Net Asset Value (NAV) calculated after the order is received, typically at the 4:00 PM market close. - Investors buy load fund shares at the Public Offering Price (POP), which is the NAV plus a sales charge, and redeem their shares at NAV. - The prospectus must be delivered to investors at or before the sale, while the more detailed Statement of Additional Information (SAI) is available only upon request. - Mutual funds cannot be traded intraday because their price is set only once per day, unlike exchange-traded closed-end funds or stocks. 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

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## Transcript

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