Finra Exam Series-7 Topic 4 Question 106 Discussion

Actual exam question for Finra's Series-7 exam

Question #: 106
Topic #: 4

[All Series-7 Questions]

Which of the following activities by a limited partner may subject the partner to unlimited liability?

Aparticipating in management of the partnership

Bcommitting the partnership in any manner

Cmaking loans beyond those specified in the partnership agreement

Dall of the above

Show Suggested Answer

Suggested Answer: B

deductions from gross income to offset lower value of equipment. Depreciation is the deduction of costs for capital assets as their value declines.

by Dorothea at Jan 22, 2025, 04:11 PM

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Ryan

25 days ago

Wait, did someone say 'unlimited liability'? Yikes, I'm going with D and keeping my limited status intact!

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Izetta

26 days ago

D, all the way. I'd rather not become an unlimited partner by accident. That would be a real liability, if you ask me!

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Laurel

2 days ago

B) committing the partnership in any manner

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Ula

8 days ago

A) participating in management of the partnership

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Fausto

1 months ago

Ah, the joys of partnership law. I'm going with D, no need to tempt fate here.

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Trinidad

19 days ago

User 2: Agreed, participating in management can be risky.

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Elin

26 days ago

User 1: I think it's D, better safe than sorry.

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Lavonna

2 months ago

But if a limited partner participates in management, they could be seen as a general partner and be subject to unlimited liability.

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Robt

2 months ago

I disagree, I believe the answer is A) participating in management of the partnership.

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Lavonna

2 months ago

I think the answer is D) all of the above.

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Lucille

2 months ago

Definitely D, I can't imagine any of those activities being safe for a limited partner. Gotta play it safe, you know?

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Pauline

4 days ago

D) all of the above

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Brett

26 days ago

C) making loans beyond those specified in the partnership agreement

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Cary

27 days ago

B) committing the partnership in any manner

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Ammie

1 months ago

A) participating in management of the partnership

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Horace

2 months ago

Hmm, I bet the answer is D. I don't want to end up with unlimited liability, that would be a nightmare!

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