Agency relationships may not be solely created by:
a. voluntary offer by the agent.
b. ratification.
c. implied contract.
d. necessity or emergency.
Answer: a. voluntary offer by the agent.
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In the event of financial distress, open-ended mutual fund investors
A. have an incentive to cash in their shares quickly since they are paid on a first come, first served basis. B. have an incentive to avoid a run since that will deplete the fund net asset value. C. have an incentive to cash in their shares quickly since that will increase the fund's net asset value D. will switch into low risk bank deposits. E. have an incentive to avoid a run since the Federal Reserve guarantees mutual fund holdings.
Occasionally, the Federal Trade Commission (FTC) bypasses the normal steps and uses the court system to stop an unfair or marketing practice. This occurs when:
A) a company violates an FTC cease and desist order B) a full commission of the FTC is not available to hear a case C) a company violates a consent order D) a company appeals a consent order