NO.PZ2015122802000016
问题如下：
Which of the following statements about exchange-traded funds is most correct?
选项：
A.
Exchange-traded funds are not backed by any assets.
B.
The investment companies that create exchange-traded funds are financial intermediaries.
C.
The transaction costs of trading shares of exchange-traded funds are substantially greater than the combined costs of trading the underlying assets of the fund.
解释：
B is correct.
The investment companies that create exchange-traded funds (ETFs) are financial intermediaries. ETFs are securities that represent ownership in the assets held by the fund. The transaction costs of trading shares of ETFs are substantially lower than the combined costs of trading the underlying assets of the ETF.
考点：金融资产的分类
题目问下列关于ETF的说法正确的是？
A ETF背后没有任何资产支持。这是错的，持有ETF份额代表你享有基金资产的所有权。
B 基金公司是金融市场众多参与者之一。这个完全正确，除了基金公司以外，金融市场的参与者还包括商业银行、投资银行、经纪商、交易所、对冲基金、保险公司等等。
C 买ETF的交易成本显著高于你单独买ETF里的成分股票。这个明显错了，买卖指数基金（相当于一次性交易一篮子证券）的交易成本肯定比一只一只的买卖指数中包括证券的交易成本要低。交易成本是按次收取的。C选项说反了。
be backed by怎么理解呢，记得固收产品相关题目be backed讲解是有担保品的意思，这题解释是说有一篮子资产的支持。请问是我混淆了概念吗。
