Business > EXAM > Series 6 Top-Off Exam Questions & Answers | 170 Questions with 100% Correct Answers | Updated & Ver (All)

Series 6 Top-Off Exam Questions & Answers | 170 Questions with 100% Correct Answers | Updated & Verified | 20 Pages

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What type of fund can issue more than one type of security? - ANS - Closed-end funds. They can issue common & preferred stock, and bonds. Open-end can only issue redeemable common stock. What are s... ome key features of the Securities Exchange Act of 1934? - ANS - (The People Act) it requires registration of people and exchanges transacting securities business in order to prevent manipulative and deceptive practices. The Act of 1934 also created the SEC and mandated the creation of SROs. How are municipal bonds taxed? - ANS - They are exempt from federal income taxes, but taxed on capital gains When a brokerage firm sells stock from its own inventory, it is acting in the capacity of - ANS - a principal and is charging a markup What are mutual fund shareholders taxed on? - ANS - Capital gains distributions, reinvested dividends and interest distributions. They are NOT taxed on unrealized capital gains When should a customer purchase a combination annuity? - ANS - When they want a source of retirement income that is both stable and will offer some protection against purchasing-power risk in times of inflation, advantages of both a fixed & variable annuity [Show More]

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