Misc Flashcards
1
Q
If someone dies in a JTWROS account, what is the tax liability?
A
There is no tax liability
2
Q
What does the The Bond Buyer show?
A
GO and Revenue bonds
3
Q
If a municipal is bought as a secondary, what happens for taxes?
A
Discount is considered ordinary income
4
Q
What is a defined benefit plan?
A
Plan that promises to pay a specific benefit to a participant at his normal retirement age
5
Q
Does a municipal need to disclose a relationship with a securities dealer in an issuance?
A
Yes
6
Q
In a stock dividend, what do you receive?
A
Incremental 100 share certificate
