The Investment Advisers Act of 1940 Requires Persons and Firms

question 26

Multiple Choice

The Investment Advisers Act of 1940 requires persons and firms giving investment advice to clients to .

• A) attend education seminars
• B) demonstrate expertise in economics and finance
• C) impose administrative sanctions on securities buyers
• D) register with the Securities and Exchange Commission

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Definitions:

State Income Taxes

State-specific levies on the earnings of individuals and businesses within their territories.

Union Dues

Fees paid by members to labor unions for the costs of union representation, benefits, and collective bargaining.

Payroll Register

A detailed record of each employee's wages, deductions, and net pay for a certain period.

Net Pay

The amount of money an employee receives after deductions such as taxes and retirement fund contributions are taken out of their gross salary.