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NEW QUESTION: 1
The ERISA fiduciary needs to be as prudent as
A. the average person.
B. the average expert.
C. the average investment advisor.
D. none of these answers.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Under ERISA, the fiduciary is held to a higher standard than the Prudent Man Rule. The ERISA fiduciary needs to be as prudent as the average expert, not simply as prudent as the average person. Like all fiduciaries, however, the ERISA fiduciary must act solely in the best interest of the plan participants and beneficiaries and use all available care, skill, prudence and diligence.
NEW QUESTION: 2
HOTSPOT
Click in the screen shown to select the feature that will allow you make bulk changes to your ads:
Answer:
Explanation:
NEW QUESTION: 3
Under NASAA Model Rules, it is permissible for the registered representative of a broker-dealer to split his or her commission with
I. a client.
II. the broker-dealer with which the registered representative is affiliated.
III. another registered representative working for the same broker-dealer.
IV. the administrative assistant who directs calls to the registered representative and provides other services for the agent.
A. I, II, and III only
B. I, II, III, and IV
C. II and III only
D. II, III, and IV only
Answer: C
Explanation:
Explanation/Reference:
Explanation: Only Selections II and III are correct. Under NASAA Model Rules, a registered representative of a broker-dealer is entitled to split his or her commission only with his or her broker-dealer or with another registered representative of that broker-dealer. He is not permitted to share commissions with a client or with anyone who works for the broker-dealer, but is not a registered agent.