Which of the following statements about disability benefits under Social Security is true?
A) There is a one-year waiting period before benefits are payable.
B) Benefits are payable as long as the disabled worker is unable to perform his or her regular occupation.
C) Benefits are payable only if the condition causing the disability is expected to result in death prior to age 65.
D) In addition to the disabled worker receiving the benefits, benefits can also be paid to eligible dependents.
Answer: D
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General partners have a fiduciary relationship with each other. Accordingly, a general partner
A. May engage in a business that competes with the partnership if it is operated with his or her own resources. B. May take advantage of a business opportunity within the scope of the partnership enterprise if the partnership agreement will terminate before the benefit will be received. C. Must exercise a degree of care and skill as a professional. D. May not earn a secret profit in dealings with the partnership or partners.
Which of the following is an example of exempt securities?
A) stock dividends and stock splits B) IPOs made by multinational corporations C) securities that have been held by a single investor for longer than a year D) securities worth $1 million or more