AWMA Module 8 Quiz with Correct
Answers
The provision that certain mutual fund policies cannot be changed without shareholder
approval is addressed in the
A) Investment Company Act of 1940.
B) Securities Exchange Act of 1934.
C) Investment Advisers Act of 1940.
D) Securities Act of 1933. - A...
and increased expectations of broker-dealers. The SEC has also released guidance on the
fiduciary duties that advisers owe to their clients. These developments will increase client
expectations of brokers and advisers and put downward pressure on fees and the sale of certain
products, especially complex high fee products that are now being discouraged.
Which act repealed a prohibition that had been in place preventing financial institutions from
offering a combination of commercial banking, investment banking, and insurance services?
A)
Gramm-Leach-Bliley Act of 1999
B)
USA Patriot Act of 2001
C)
Commodity Futures Modernization Act of 2000
D)
Securities Acts Amendments of 1975 - Answer✔✔-A)
Gramm-Leach-Bliley Act of 1999
The Gramm-Leach-Bliley Act of 1999, also known as the Financial Services Modernization Act,
repealed the part of Glass Steagall that had previously prohibited financial institutions from
Page 3/26
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Emillect. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.