ProductsCâu 32 / 110
A 529 college savings plan interest is classified for regulatory purposes as:
a.A municipal fund security, subject to MSRB rules
b.An open-end investment company registered under the Investment Company Act of 1940
c.A variable annuity separate account interest
d.An exempt security not subject to any securities regulation
Giải thích
Because 529 plans are established by states, their interests are municipal fund securities and sales practices are governed by MSRB rules rather than by the Investment Company Act. Investors receive an official statement or program disclosure document rather than a statutory prospectus. Calling them completely unregulated is wrong, as suitability, disclosure, and advertising rules all apply.
Trích dẫn luật: Internal Revenue Code Section 529Luyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which feature distinguishes a unit investment trust from a management company?
- Shares of a closed-end investment company differ from open-end fund shares because closed-end shares:
- An open-end investment company may issue:
- A grandparent withdraws $8,000 from a 529 plan and uses all of it for the beneficiary's college tuition. The federal tax treatment of the earnings portion is:
- Which statement about control of a 529 plan account is accurate?
- The Investment Company Act of 1940 classifies investment companies into which three types?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với FINRA Series 6 — Investment Company & Variable Contracts Rep · Quy trình kiểm tra