12b-1 fees refer to:
Answer(s): C
12b-1 fees are fees that some mutual funds charge to pay for certain of its marketing expenses.
Steel Dynamics (STLD) has a convertible bond issue that matures in four years. The bond has a face value of $1,000 and pays a coupon of 5.125%, with interest paid semiannually. The conversion ratio is 56.9801. If the stock of Steel Dynamics is currently priced at $15 a share, what is the conversion value of this bond, to the nearest cent?
Answer(s): A
The conversion value of this bond $854.70. It is equal to its conversion ratio of 56.9801 times the current market price of its stock, $15. Thus, 56.9801 x $15 = $854.70.
Which of the following is not an auction market?
NASDAQ is not an auction market. NASDAQ is a computerized system of geographically dispersed securities' dealers. As such, it is a negotiated market. The NYSE (New York Stock Exchange) and the CHX (Chicago Stock Exchange) are both auction markets.
Which of the following plans does not have the requirement that its participants must begin withdrawing funds from the plan by April 1st of the year after they turn 70 ½?I). SIMPLE IRA II). 401(k)III). Roth IRAIV). profit-sharing plan
The Roth IRA does not have the requirement that its participants must begin withdrawing funds from the plan by April 1st of the year after they turn 70 ½. The Roth IRA does, however, have a mandatory distribution requirement that goes into effect if the participant dies.
Patty Planner has been contributing a sum to a non-qualified variable annuity each month for the last fifteen years in order to reach her ultimate goal of an early retirement. Now that she has turned 60, Patty has decided to retire. Her annuity is now worth $69,000, and her total contributions were $36,000. Patty decides to withdraw $15,000 of her accumulation as a lump sum to fund an extended vacation to Europe that she has always promised herself.Which of the following statements applies to Patty's situation?
Answer(s): B
If 60-year-old Patty has contributed $36,000 to the annuity that is now worth $69,000 and decides to withdraw $15,000 as a lump sum, the $15,000 will be taxed as ordinary income. She will not be subject to any penalties for early withdrawals since she is over 59 ½ years old, but the IRS uses LIFO-last-in/first-out-accounting in determining whether the income is taxable, so the $15,000 withdrawal will be considered to come from earnings, which have grown tax-free and are, therefore, now taxable.
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