Series 65

Describe Whole life policy

1. Guaranteed Death Benefit equal to the face amount, 2. Guaranteed cash amount that can be borrowed against

What is stockholders equit

1. Net worth, 2. Book Value, 3. consists of capital stock, capital surplus and retained earnings.

Describe Universal Life Policy

1. No scheduled Premiums, 2. Face amount can be adjusted, 3. No fixed payment schedule

How much can one contribute to a Keogh Plan

20% of self-earned money

According to 1940 Act, Investment supervisory services are?

An IA giving continuous investment advise to a client based on the individual needs of the client. ADV II has a disclosure section for this.

Describe Active Asset Allocations strategies

Assumes markets are inneficient. Based on changing assumptions about the level of the market and interest rates, allocations are changed accordingly to take advantage of such anticipated economic events.

FINRA Regulares what?

Broker Dealers, not investment advisors. Mutual fund sponsors are included also.

12 B 1 Fee's

Included in the expense ratio, Management fee's may not be included in 12-b-1 fee's

What is a Non-Recourse loan

Loans with no personal liability for repayment.

Event Rist

The possibility that a corporations credit rating will be lowered, causing the value of its outstanding bonds to drop

Business Risk

The possibility that the company will not do well and cause the stock price to drop.

What are yellow sheets

They provide information on corporate bonds, like you can find out which firms do business in the bonds

Describe Passive Asset Allocation Strategies

Works under the premise that markets are efficient. Buy and hold and systematic rebalancing are names.

Describe a TSA Plan

"Tax Sheltered Annuities" - TSA is only for employees of not-for-profit organizations and employees of municipal organizations. A self-employed person may not have a TSA.