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59 Cards in this Set
- Front
- Back
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(Ch. 11) 2 examples of nonqual retirement plans
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1-payroll dedn 2- deferred comp
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(Ch. 11) 2 special features of roth ira
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possible tax free dist does not require dist by age 70 1/2
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(Ch. 11) educational ira's max contrib what is special about these
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2k per year after tax contrib & tax free dist for education
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(Ch. 11) investments that are not allowed in iras
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insurance collectibles
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(Ch. 11) ira contrib limit singe
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4k or 100% of earned income
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(Ch. 11) ira contrib limit singe
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8k for joint return split in two accts
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(Ch. 11) ira contrib limit.. excess contrib penalry
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6% excess penalty
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(Ch. 11) ira w/d,,, what age is "early" w/d and what is penalty
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age = 59 1/2 penalty 10% + ordinary income tax
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(Ch. 11) main rish in nonqual retire plans
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main risk is employer failure
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(Ch. 11) re iras…. allowable rollovers and transfers
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1 rollover every 12 mos to be complete in 60 days unlimited trustee transfers
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(Ch. 11) re nonqual retirement plans… ok to be discriminiatory?
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yes
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(Ch. 11) what are keoghs
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hr 10 qualified plans for self emp & owner employees
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(Ch. 11) what are SEPs
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qualified plans for self emp & small business, allows employers to contrib to employee ira's
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(Ch. 11) what are TSA's
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403b plans for employees of non profits
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(Ch. 11) what is insufficient dist penalry for ira
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percent = 50%
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(Ch. 11) what is keogh contrib max
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43k
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(Ch. 11) what is latest ira withdrawl can start w/o penalry
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by age 70 1/2
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(Ch. 11) what is w/h rate for profit sharing plan dist
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0.2
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(Ch. 12) name 3 types of annuitization
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1- life income, no beneficiary 2- life w/ period certain 3- joint lieft w/ last survivor
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(Ch. 12) re annuities… relationship btwn AIR and monthly income
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monthly inc up --> separate acct > AIR monthly inc dn --> separate acct < AIR
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(Ch. 12) what is annuitization
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income guaranteed for life
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(Ch. 10) invest co products open ended of closed: continuous primary offering
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open
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(Ch. 10) invest co products open ended of closed: aka mutual fund
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open
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(Ch. 10) invest co products open ended of closed: price determinated by formula in prospectus
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open
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(Ch. 10) invest co products open ended of closed: issues fractional shares
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open
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(Ch. 10) invest co products open ended of closed: redemption in 7 days
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open
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(Ch. 10) invest co products open ended of closed: trade in secondary mkt
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closed
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(Ch. 10) invest co products open ended of closed: issues debt and equity
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closed
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(Ch. 10) invest co products open ended of closed: fixed number of shares
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closed
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(Ch. 10) invest co products open ended of closed: sold w/ prospectus in IPO only
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closed
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(Ch. 10) invest co products diversified rules
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75/5/10 rule -> 1-75% invest in other co's 2-max 5% in any one co 3- may own no more than 10% of target co's voting stock
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(Ch. 10) invest co products invest co min / max requirements
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1- min 100k capital & 100 investors 2-asset / ratio not less than 3 to 1
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(Ch. 10) invest co products invest co's what 3 things require shareholder votes
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1-chg in invest obj 2-chg sls load policy 3-chg fund classification
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(Ch. 10) invest co products four features of MM funds
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1-no load 2-fixed NAV 3-check writing priv 4-daily int
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(Ch. 10) invest co products what has.. 1-no load 2-fixed NAV 3-check writing priv 4-daily int
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MM funds
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(Ch. 10) invest co products req'd disclosure for performance history
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1, 5 10 yrs (or life of fund if less than 10)
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(Ch. 10) invest co products what odes invest co act of 1940 do
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defines and regulates invest co's
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(Ch. 10) invest co products what act defines and regulates invest co's
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invest co act of 1940
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(Ch. 10) invest co products name the three types of invest co's
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1-face amt certs 2-UIT 3-mgmt co's
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(Ch. 10) invest co products what is mutual fund's (ie open ended) POP
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NAV per share + sls charge
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(Ch. 10) invest co products which open or closed end… act like any other corp security (ie trades secondary, issues debt & equity, prosepct at IPO only)
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closed end
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(Ch. 10) invest co products calc for sales charge %
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(POP - NAV) / POP
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(Ch. 10) invest co products NASD max for sls charge %
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8.5%
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(Ch. 10) invest co products POP calc
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NAV / (100% - SC%)
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(Ch. 10) invest co products what are 12b-1 charges
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dist fee approved approved annually
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(Ch. 10) invest co products how often are what are 12b-1 charged
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quarterly
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(Ch. 10) invest co products limit for 12b-1 charges if desc as no-load
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0.25%
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(Ch. 10) invest co products what funds must offer reinvestment at NAV
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newly formed funds
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(Ch. 10) invest co products Ex Div Date - who determines it
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BOD
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(Ch. 10) invest co products Ex Div Date - when is it.. typically
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business day after record date
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(Ch. 10) invest co products calc for annual yield
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Ann Dividends / POP (does not include cap gains dist)
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(Ch. 10) invest co products whats not included in yield calc
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cap gains distributions
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(Ch. 10) invest co products what is IRC subchapter m
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conduit theory… co is regulated invest co if dist min 90% of net income
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(Ch. 10) invest co products if co is regulated invest co what earnings is it taked on
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retained earnings only
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(Ch. 10) invest co products what class of shares offer breakpoints on large purchases
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Class A Shares
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(Ch. 10) invest co products what causes chng in NAV
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1-portfolio value chgs 2-port receives invest income 3-port gains are paid
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(Ch. 10) invest co products what does NOT cause chng in NAV
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shares sold or redeemed
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(Ch. 10) invest co products letter of intent… max
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13 mos
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(Ch. 10) invest co products letter of intent.. back dated allowed time
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90 days
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