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FINRA Series 7

Category - Series 7

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Partnership democracy is:

a prohibition against control by a single partner
the sharing of management by all partners
permission granted to the general partner to act outside the partnership agreement
a synonym for silent partner

Explanation

Answer: C - permission granted to the general partner to act outside the partnership agreement. The limited partners may approve of the general partner pursuing an act that is contrary to the partnership agreement.

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FINRA Series 7

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FINRA Series 7

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