Investment clubs can take advantage of: a. breakpoints on mutual fund purchases.
b. cannot take advantage of breakpoints on mutual fund purchases.
c. are permitted to purchase new equity issues at the public offering price (POP).
d. are not permitted to purchase new equity issues at the POP.

B & C

Explanation:

Investment club are groups of people that come together in partnership to pool resources to purchase shares , stocks , mutual funds for investment purpose.

They can buy new issues at as they are not considered restricted person under the rules guiding the sales of new shares ,unless a registered representative was a member of an investment club.

However , they are not permitted to take advantage of breakpoints on mutual fund purchases.

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