Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following is not prohibited of a general partner?
  1. acting in such a way as to impede the orderly business of the partnership
  2. buying or selling assets of the partnership except to foster the business of the partnership
  3. competing in any way with the partnership
  4. accepting compensation from any other partnership
Explanation
Answer: D - accepting compensation from any other partnership. A general partner may be the partner is more than one partnership.
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