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Dave purchases 10,000 units of a no-load US-dollar denominated mutual fund for US$15 per unit...

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Dave purchases 10,000 units of a no-load US-dollar denominated mutual fund for US$15 per unit for a total cost of $165,400 Canadian. He later sells the units for US$16 per unit, with a loss of $11,400 Canadian. To what type of risk has Dave been exposed?

A.

Market risk

B.

Unique risk

C.

Exchange rate risk

D.

Default risk

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