An agent cannot tell a client that a mutual fund is “no load” if the...

If a fund has either Selection I or Selection II, an agent cannot tell a client it is “no load.” If the fund has either a front-end load, a contingent deferred sales load, or both, the client must be told that the fund has a load. If the 12b-1 fees on a fund are 0.25% or less of the annual average net assets, it is not considered to be a load fund.