With respect to mutual funds, explain 12b-1 fee, and is it annual or a 1 time charge?

It's an expense that accrues daily, but is generally shown as an annual percentage. In some cases if you buy a share class with a 12b-1 fee, you be switched to a class without a 12b-1 fee after a certain number of years. You should generally try to stay away from these, there are plenty of good mutual funds without them.

the fee covers promotion, distribution, and marketing expenses. sometimes it pays commission to broker