Content Updates Flashcards
FINRA Rule 2330 (deferred variable annuities) requires principal approval of any sale or exchange (including a 1035 exchange) within
7 business days.
. If requested, a paper copy of the SAI must be sent within
three days of the request
FINRA Rule 3170 requires certain member firms to record conversations of their reps. These tape recordings shall be retained for a period of not less than
three years with first two easy accessible
FDIC insurance is $250k per
depositor, per ownership category, per bank. A single individual depositor could have more than one ownership category.
. Should there be a trading halt imposed after a market-on-close (MOC) order is received
the order is canceled.
A major way in which private CMOs differ from agency CMOs
o-called “private label” CMOs are the sole obligation of their issuer
Of all the DPPs, it is only the RELP (Real Estate Limited Partnership) where
non-recourse debt adds to the investor’s basis
If a business had been using FIFO for inventory valuation and wishes to change to LIFO, or the reverse,
it may do so under GAAP ((Generally accepted accounting principles).
If a registered rep suspects senior abuse contact who?
First the trusted person. If no trusted contact then your supervisor.
ETN’s exchange traded but are a
debt security. Not an equity like etfs
Who signs the subscription agreement?
The limited partners and the general partners
greeing to mediate a dispute is
optional
BANs are issued in anticipation of
long-term financing,
TANs are issued in anticipation of
upcoming tax revenue
. HSA differs from an FSA in that
With FSA you use it or lose it. With HSA you dont.
Special “events” are reported to the SEC on
Form 8-K
S&P’s highest rating for commercial paper is
a1 then A2 then A3
Moodys highest rating for commercial paper is
Prime 1 then prime 2 then prime 3
How often can a 529 plan move from one state to another?
Once in any 12 month period
A broker-dealers website is considered
retail communication
Entity accredited investor
5 million
For a mutual fund A long-term capital gains distribution may not be made more often than
once per taxable year.
An investor who purchased a mutual fund using the Rule 498 summary prospectus can request the statutory (full) prospectusIf so, it must be sent within
3 business days
The minimum tax rate on qualified dividends (or long-term capital gains)
is 0%. for couples earning no more than $80,000 or single filers earning no more than $40,000
