Regulations第 51 / 110 题
Urging a customer to buy fund shares immediately so the customer can "capture" an upcoming distribution is prohibited because:
a.Distributions cannot be paid to shareholders of record for the first 30 days
b.The share price drops by the amount of the distribution, so the customer gains nothing and incurs a current tax liability
c.Funds are not permitted to pay distributions more than once a year
d.The customer would be required to hold the shares for 12 months
解析
Selling dividends is deceptive because the NAV falls by the distribution amount on the ex-date, leaving the investor with the same total value but an immediate taxable event. There is no 30-day record-date restriction, no annual limit on distributions, and no mandatory holding period. The customer is worse off after tax, which is why the pitch is prohibited.
法律依据: FINRA Rules免费刷完整 110 道题库 — 无需注册。
同考点相关题目
- A fund's board wants to change the fund from a growth objective to an aggressive high-yield bond objective. This change requires:
- Breakpoint selling is best defined as:
- A representative repeatedly redeems a customer's shares in one fund family and reinvests the proceeds in a similar fund at another family, generating a new sales charge each time. This practice is called:
- A representative learns that an institutional customer is about to place a very large buy order and immediately buys the same security for a personal account. This is:
- A customer is nervous about market volatility and the representative offers to personally reimburse any losses in the first year. This offer is:
- A registered representative may share in the profits and losses of a customer's account only if: