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EXAMFX SIE FINAL EXAM AND PRACTICE EXAM NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+$18.09
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EXAMFX SIE FINAL EXAM AND
PRACTICE EXAM NEWEST ACTUAL
EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY
GRADED A+
What type of investment company has the objective
of achieving the same return as a particular market
index? - ....ANSWER...Exchange-Traded Fund (ETF)
What kind of investment management company has
a fixed number of shares, can issue stock, bonds and
preferred stock, and trades in the secondary
market? - ....ANSWER...Closed-end fund
Which entity decides a mutual fund's ex-dividend
date? - ....ANSWER...Board of directors
,What type of security is purchased in installments
and matures on a specified date at a fixed dollar
amount? - ....ANSWER...Face amount certificate
What is the highest allowable sales charge for a
mutual fund that offers dividend reinvestment at
NAV, breakpoint and rights of accumulation? -
....ANSWER...8.5% of the POP (public offering price)
What are the shareholder's rights within a mutual
fund? - ....ANSWER...Right to vote on various issues;
right to redeem shares in a timely manner; right to
distributive share of portfolio assets; right to
regularly review the fund's financial information
What does a hybrid REIT invest in? -
....ANSWER...Mortgages and real estate
What term is used to describe a bond trading below
its par value? - ....ANSWER...At a discount
What type of investment company issues
nonredeemable securities? - ....ANSWER...Closed-
end management company
,A letter of intent to allow an investor to qualify for
sales discounts may be backdated how many days? -
....ANSWER...90 days
Typically, what is the largest expense of a mutual
fund? - ....ANSWER...The management fee
Which type of investment company issues
discounted or premium shares that can be
redeemed for a fixed amount on a specified date? -
....ANSWER...Face amount certificate
With regard to losses, what is the primary difference
between REIT and a DPP? - ....ANSWER...REITs
cannot pass through losses to investors
What is the largest sales charge or 12b-1 fee a fund
may charge and still be considered a no-load fund? -
....ANSWER...0.25% of net assets under management
What is the major difference between an open-end
and a closed-end management company? -
....ANSWER...The way the company is capitalized
, What type of joint account allows for one tenant to
own 70% of the account and the other to own 30%? -
....ANSWER...Tenants in Common (TIC)
In a limited partnership, who claims the income and
expenses on their tax returns? - ....ANSWER...Limited
partners
Under what type of program does the oil and gas
drilling occur in areas where there are proven
reserves? - ....ANSWER...Developmental program
In a limited partnership, tax credits pass through to
which party? - ....ANSWER...Limited partners
What is the term used to describe the debt that
limited partners are liable for? -
....ANSWER...Recourse debt
What type of cost recovery system is used for
irreplaceable natural resources? -
....ANSWER...Depletion
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