Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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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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Ordinary Income | 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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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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Created by:
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