Mary purchases ten shares of stock in the Oceanview Retirement Corporation, entitling her to a proprietary lease on apartment 428 and use of the common elements. This is an example of:

Producers licensed in life, accident, or health insurance must take how many hours of continuing education courses in these lines every 2-year compliance period?

A) 21 hours B) 24 hours C) 18 hours D) 26 hours

Abraham becomes an equal partner in the Kit, Kat, and Kidd Partnership in 2014. In 2013, he filed his personal tax return on the calendar tax year basis. The partnership reports income and expenses on the fiscal tax year basis. How should Abraham report partnership income or loss distributed to him?

A. Abraham may choose a fiscal tax year and later obtain IRS approval if he wishes to change to a calendar tax year for reporting income and expenses. B. Abraham may choose either a calendar tax year or fiscal tax year to report income and expenses. C. Abraham may choose a fiscal year to report income and expenses. D. Abraham must report income and expenses on the calendar year basis.