Education Flashcards
What is the maximum amount for tuition in 529?
$10,000
What can 529 be used for?
Only tuition
What is a CRS?
Provides a new customer with a summary of information relevant tot he customer relationship
What are three disclaimers that retail communications must provide when an advertisement includes a testimonial?
- paid testimonial
- May not be representative of other clients
- Not a guarantee of future performance
What is power of attorney used for (accounts)
discretionary account
What is a discretionary account?
WHen do you not need a power of attorney?
When you are the beneficiary of an account of a person that has passed away?
What DO you need if you want to get access to an account you are the beneficiary of?
- testament letters
- certified copy of the death certificate
- inheritance tax waivers
When does the power of attorney die?
when the account holder dies
How long does a firm have to respond if FINRA receives a request for additional information regarding its submission for application of registering as a broker-dealer?
60 days
What is the formula for T bills bank discount yield?
[(face price - price/face]*(360/# days to maturity)
What is a trade surplus?
the amount by which the value of a country’s exports exceeds the cost of its imports.
What is churning?
excessive trading to earn commissions
Where do auction markets take place?
On the trade floor
