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Terms

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
Alternative Minimum Tax (AMT)   show
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show The price paid for assets, including any commissions or fees, used to calculate capital gains or losses when the assets is sold  
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show The loss incurred when a capital asset is sold for a lower price than the purchase price.  
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show An accounting method used to assess a company's inventory, in which it is assumed that the first goods acquired are the first to be sold. The same method is used by the IRS to determine cost basis for tax purposes.  
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show Income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses  
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Gifted vs Inherited Securities   show
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show An accounting method used to assess a company's inventory, in which it is assumed that the assumed that the last goods acquired are the first to be sold. The method used to determine cost basis for tax purposes;  
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LIFO (Last in, last out) Continued   show
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show  
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show  
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Ordinary Income   show
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show  
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show  
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Pre-tax   show
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show The transfer of funds from one qualified retirement plan to another qualified retirement plan. If this is not done with in a specific time , the funds are taxed as ordinary income.  
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Specified identification method   show
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Tax-deductible   show
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show  
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show  
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show  
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Unrealized Gain   show
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show Selling a security at a loss for tax purposes and, within 30 days before or after, purchasing the same or a substantially identical security. The IRS disallows the claimed loss.  
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Short term gains   show
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Corporate bond taxation   show
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show Federally taxable as ordinary income in the year received: Exempt from state and local taxes.  
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Mutual Fund dividends   show
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Short term capital gains distributions   show
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100% distributions from a qualified plan   show
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show Taxed as ordinary income - cost basis returned tax-free  
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show Taxed at a Maximum rate of 15%  
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Capital gains from the sale of inherited securities   show
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Common stock cash dividends   show
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show Taxed at a Maximum rate of 15%  
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show Tax-free  
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show Tax-free  
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show Tax-free  
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Distribution from a Coverdell or 529 Plan used for qualified educational expenses   show
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show Tax-free  
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show Time constraints imposed by the Telephone Consumer Protection Act 1940  
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Daily   show
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show Settlement for options and treasury trades.  
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show Settlement for municipal and corporate securities  
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T+5   show
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show Maximum time period for redemption of mutual fund shares.  
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show Time period for filing investment company ads and sales literature with FINRA  
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show SEC "cooling off period" for new issues  
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Monthly   show
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30 days   show
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45 days   show
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show Maximum time period to complete an IRA rollover  
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show Size of wash sale window  
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show Maximum allowable period to backdate a letter of intent  
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90 days   show
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120 days   show
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show Minimum waiting period for Series 6 candidates who fail of 3rd or later attempts  
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show Minimum requirement for investment companies(ICs) to send reports to shareholders  
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270 days   show
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1 year   show
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show Minimum requirement for IC reporting to SEC  
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show Variable contract death benefit calculated on this basis  
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13 months   show
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16 months   show
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show Maximum time to convert a variable life policy to a whole life policy  
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show Registered representatives (RRs) who leave the business longer than this period must retest.  
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2 years   show
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show Required holding period for a qualified (tax-free) distribution form a Roth IRA  
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show Maximum time period associated with statutory disqualification  
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show Maximum maturity of a T-Note  
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show Maximum jail term for insider trading violation  
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show Maximum maturity of a T-bond  
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59.5 years   show
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show Age at which required minimum distributions from retirement plans must begin  
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.01%   show
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.25%   show
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show Tax penalty on excess IRA contributions  
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show Maximum sales charge allowed under FINRA rules on a single purchase of investment company securities  
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9%   show
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show Penalty for early withdrawal (under 59.5) from retirement plan  
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show Maximum interest rate that may be used in a illustration for variable life contracts  
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15%   show
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15%   show
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16%   show
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20%   show
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show Failure to take required minimum distribution (RMD) tax penalty on traditional IRAs  
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show Maximum sales charge that may be levied in year one of a front load plan (1940)  
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70%   show
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show Minimum percentage of the Board of Directors (BOD) that must be disinterested  
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90%   show
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300%   show
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1%   show
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American Depository receipts (ADR)   show
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Annual return   show
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show also called Offer  
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show also called New Stock  
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show also called Back end load  
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show also called Contingent deferred sales charge (CDSD)  
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show also called Creditor  
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show also called Agent  
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