AWMA Module 8 Quiz with Correct
Answers
The provision that certain mutual fund policies cannot be changed without shareholder
approval is addressed in the
A) Investment Company Act of 1940.
B) Securities Exchange Act of 1934.
C) Investment Advisers Act of 1940.
D) Securities Act of 1933. - A...
and increased expectations of broker-dealers. The SEC has also released guidance on the
fiduciary duties that advisers owe to their clients. These developments will increase client
expectations of brokers and advisers and put downward pressure on fees and the sale of certain
products, especially complex high fee products that are now being discouraged.
Which act repealed a prohibition that had been in place preventing financial institutions from
offering a combination of commercial banking, investment banking, and insurance services?
A)
Gramm-Leach-Bliley Act of 1999
B)
USA Patriot Act of 2001
C)
Commodity Futures Modernization Act of 2000
D)
Securities Acts Amendments of 1975 - Answer✔✔-A)
Gramm-Leach-Bliley Act of 1999
The Gramm-Leach-Bliley Act of 1999, also known as the Financial Services Modernization Act,
repealed the part of Glass Steagall that had previously prohibited financial institutions from
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