Finra Series-6 Exam - Topic 6 Question 83 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 83
Topic #: 6

[All Series-6 Questions]

On which of the following items do mutual fund shareholders get to vote?

i. any change in the investment objective of the fund

ii. the election of a new investment adviser

iii. the renewal of the fund's 12b-1 fee

IV. the purchase or sale of real estate by the fund

AI, II, III, and IV

BI, II, and IV only

CI, II, and III only

DI, III, and IV only

Show Suggested Answer

Suggested Answer: B

A broker dealer is required to file a Currency Transaction Report with the Treasury Department for any cash transaction exceeding $10,000. The report does not need to be filed if the transaction simply has a market value of $10,000, but does not involve cash (aka, currency.)

by Rosendo at Jul 15, 2024, 11:17 PM

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Jeannetta

7 months ago

Yep, I think it's I, II, and III for sure!

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Marcos

8 months ago

I thought we only voted on major changes, not fees.

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Salena

8 months ago

Wait, do we really get to vote on 12b-1 fees?

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Dick

8 months ago

Definitely agree with that!

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Merilyn

8 months ago

Shareholders vote on changes to investment objectives and adviser elections.

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Aileen

9 months ago

I feel like I should go with option C, but I'm not completely confident about the 12b-1 fee. It seems important, but I can't recall if it requires a vote.

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Toi

9 months ago

I think we had a practice question that mentioned voting rights, and I remember real estate being a significant decision for shareholders.

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Delisa

9 months ago

I'm a bit unsure about the 12b-1 fee. Did we cover if shareholders vote on that? It feels like something they might have a say in.

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Ressie

9 months ago

I remember studying that shareholders typically vote on major changes, so I think I should include the investment objective and adviser.

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Dottie

9 months ago

Wait, I'm a little confused. Do mutual fund shareholders really get to vote on all of these things? I'll need to double-check my understanding of the rules around shareholder voting.

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Zack

9 months ago

Ah, this is a good one. I remember learning about mutual fund shareholder voting in my finance class. I'm pretty confident I can nail this question.

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Rosendo

9 months ago

Okay, I think I've got this. The key is to identify which fund decisions require a shareholder vote. I'll go through the options methodically to determine the right answer.

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Maybelle

9 months ago

Hmm, I'm a little unsure about this one. The options cover a range of potential fund decisions, so I'll need to make sure I understand the details of each one before selecting the right answer.

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Daron

9 months ago

This seems like a straightforward question about mutual fund shareholder voting rights. I'll carefully review each option and think through which ones are correct.

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Leatha

9 months ago

Hmm, I'm a bit confused by the terminology here. I'll need to review my notes on ACI and external network integration to make sure I understand the right approach.

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Shaniqua

1 year ago

I dunno, this question seems a bit fishy to me. I bet the fund manager is trying to catch us out with some obscure rule about shareholder voting. Hmm, maybe I'll go with B just to be safe.

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Phuong

1 year ago

User 3: I agree with Phuong, I'll go with C as well.

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Lourdes

1 year ago

User 2: I'm not so sure, I feel like it might be C, let's think about it.

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Leota

1 year ago

User 1: I think the answer is A, we get to vote on all those things.

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Grover

1 year ago

Haha, the fund manager must be trying to trick us with this one. I bet the answer is A, just to keep us on our toes!

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Lucia

1 year ago

I'm sticking with A, I think you're both wrong.

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Leonida

1 year ago

I'm sticking with A, I have a feeling it's the right choice.

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Alita

1 year ago

No way, I'm pretty sure it's B.

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Mozell

1 year ago

No way, it has to be C. Trust me on this one.

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Linwood

1 year ago

I think the answer is actually B, not A.

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Major

1 year ago

I think the answer is actually C, not A.

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Madonna

1 year ago

This question is a piece of cake! The answer is clearly C. Shareholders don't get to vote on the purchase or sale of real estate by the fund, so that one's out.

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Misty

1 year ago

I believe they also get to vote on the renewal of the fund's 12b-1 fee.

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Glendora

1 year ago

I agree with Norah, they also get to vote on the election of a new investment adviser.

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Elly

1 year ago

I'm a little unsure about this one. I think the answer might be A, but I'm not totally confident. Maybe I should review the material on mutual fund shareholder voting rights again.

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Hyman

1 year ago

I'll definitely review the material on mutual fund shareholder voting rights to make sure I understand it better.

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Natalie

1 year ago

Yes, that's correct. It's important for shareholders to have a say in those decisions.

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Tiffiny

1 year ago

I think you're right, mutual fund shareholders get to vote on all of those items.

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Geoffrey

1 year ago

A) I, II, III, and IV

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Van

1 year ago

Hmm, this seems straightforward. I'm pretty sure the correct answer is C, since shareholders get to vote on changes to the investment objective, the election of a new investment adviser, and the renewal of the fund's 12b-1 fee.

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Norah

1 year ago

I think mutual fund shareholders get to vote on changes in investment objective.

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