
Chapter 2: General Concepts
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Professional Development
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following does NOT fall under the classification of an investment company according to the Investment Company Act of 1940?
Management Companies
Variable annuities
Face amount certificates
Unit investment trusts
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Investment Company Act of 1940 defined 3 classifications of investment companies. They are
UITs, Management Investment Companies, and Face Amount Certificate Companies
Open-end mutual funds, closed-end mutual funds, and UITs.
Variable annuities, fixed annuities, and mutual funds.
Annuities, UITs, and Face Amount Certificate Companies
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The investment company concept allows the individual investor to I. Realize a greater return on an investment. II. Achieve wide diversification with a small investment. III. Defer taxes by reinvesting distributions in additional shares. IV. Access professional portfolio management at minimal cost.
I and IV
II and III
II and IV
III and IV
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not considered an investment company?
Management Company
Face-amount certificate company
Unit Investment Trust
Real Estate Investment Trust
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A redeemable security is
A negotiable security.
A marketable security.
Traded on an exchange or OTC market.
A security with no secondary trading
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of investment company issues discounted or premium shares that can be redeemed for a fixed amount on a specified date?
Face amount certificate
Unit investment trust
Open-end management company
Closed-end management company
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are characteristics of Unit Investment Trusts EXCEPT
A fixed portfolio.
No secondary market trading.
Actively managed portfolio.
Units are redeemable by the issuer.
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