SIE STC USA Greenlight Exam 1 | Questions with 100% Correct Answers | Updated and Verified | 41 Pages

Which of the following statement is NOT TRUE regarding the Uniform Gifts to Minors Act? A. only one custodian is allowed for each account B. The minor is responsible for all taxes due on dividends and interest received from securities held in the account C. only an adult may be a custodian D. securities must be held in the name of the brokerage form - D All of the choices regarding the Uniform Gift to Minors Act are true EXCEPT securities must be held in the name of the brokerage firm (Street name). All securities are registered in the name of the custodian for the minor. A limited partner would be in jeopardy of losing her limited liability if the partner: A. Received a portion of the project's income and deductions B. assisted in the decision of which properties to acquire C. insisted on examining the partnership's financial records D. made a loan to the partnership - B Limited partners have the right to receive their portion of income and losses, examine books and records, and make loans to the partnership. If they get involved in the management of the program, such as deciding which properties to acquire, they could be considered general partners and lose their limited liability. Which of the following is NOT a type of unsystematic risk?