Final 4 Flashcards
What are defensive stocks?
Stocks unaffected by business cycle; pharmaceuticals
What are counter-cyclical stocks?
Stocks that do better in a down cycle; gold
Can an investment adviser act as principle?
Yes, if disclosure given
Who can use term investment council?
Advisers whos primary business is giving advice
Is regulation by filing used by officers to sell unregisterd shares?
yes
Do S Corporations have unlimited life?
yes
Can an adviser take an opposite position to a customer?
Yes, but only if diclosure and customer gives consent
How does the IRS determine designated beneficiary for payment of retirment accounts?
beneficiary with shorted life expectancy
What is an issuer?
person who sells a security
What is the amount of fine that must be disclosed to customers?
2500
When are gains reported for limited partnership?
Year they occur
Can the administrator change the amount of the surety bond required?
No
How much capital gain is excluded from selling a house for a married couple? single?
500,000; 250,000
How long are advisers required to keep records?
5 years
Do oil and gas programs or mining programs have an issuer?
no
