C7. Number 10 of fiduciary responsibilities of the broker to the10. A licensed salesperson acting as an independentcontractor affiliated with a licensed broker isA. not responsible to the broker for what thesalesperson does.B. responsible for paying all of his income taxes.C. allowed to receive employee benefits such ashealth insurance.D. told what specific hours he must work in thebrokerage office.1. One responsibility that is NOT included in the listprincipal is that of

Stock broker is the person or a firm which helps a buyer of the security to meet with the seller of…

Answered: independent 10. A licensed salesperson…

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independent 10. A licensed salesperson acting as an contractor affiliated with a licensed broker is

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Concept explainers

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.

Question

C7. Number 10

of fiduciary responsibilities of the broker to the
10. A licensed salesperson acting as an independent
contractor affiliated with a licensed broker is
A. not responsible to the broker for what the
salesperson does.
B. responsible for paying all of his income taxes.
C. allowed to receive employee benefits such as
health insurance.
D. told what specific hours he must work in the
brokerage office.
1. One responsibility that is NOT included in the list
principal is that of

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