Municipal Fund Securities Quiz Flashcards
The syndicator of a limited partnership is a corporation or a person
Acting as the organizer of the partnership
XYZ limited partnership is seeking to roll up 50 individual limited partnerships into a Master Limited Partnership. Which of the following would be required for a toll up to go forward?
A disclosure to LPs if the roll up benefits the GP
The limit 2% of the few attributed to the structuring of a roll up
A vote by LPs to approve the roll up
What should an investor consider before establishing a 529 plan in a neighboring state?
The possible tax consequences for investing in an out of state plan
A registered representative must obtain written verification of an investors net worth for which of the following investments?
A direct participation program
Which of the following is correct regarding 529 plans?
Contributions grow tax deferred
They allow for an accelerated gift per donor
Rules and provisions may vary by state
Which of the following are considered a conflict of interest in a limited partnership?
The general partnership self dealing to insure profits without regard to the limited partners
An investor invests $20,000 in a limited partnership. The investors share of recourse debt is $80,000. What is true?
The basis is $100,000
The maximum risk is $100,000
What is an underwriters maximum sales charge?
10%
If a limited partnership interests are distributed in a public offering what is the name of the disclosure document?
Prospectus
An investors eldest child is about to graduate from high school and is not planning on attending any higher education program. What options does the investor have regarding the 529 plan which was established for this child?
The funds may be transferred to a sibling without penalty
All of the following are considered conflicts of interest for the general partner in a limited partnership
Selling a personally owned and existing office building to the limited partnership
Acting as an agent for the partnership in managing partnership assets
Accepting short term loans from the partnership
What oil and gas program has the least capital risk?
Income
Which of the following does describe development oil and gas drill programs?
Return potential is not as great as it is in exploratory drilling
A combination programs combines exploratory and developmental drilling
Drilling takes place only in proven areas
A limited partner exerts some control over partnership business activities. Which of the following are potential consequences?
Limited liability could be jeopardized
When a general partner is organizing and establishing a limited partnership the general partner is acting as a
Syndicator
