A registered representative says in a conversation with a prospect that a certain mutual fund "has no initial sales load." The fund does not have a front-end load but it does have a contingent deferred sales load. Which of the following is a TRUE statement regarding this situation?
(a) The fund could properly be described as a "no load fund."
(b) The back end load shouldn't be a consideration at the time of sale but is important to discuss when the investor is ready to sell.
(c) The RR must explain the contingent deferred sales load to the prospect.
(d) The RR need only deliver a prospectus to the prospective buyer and does not have to explain the load.
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