1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andre45 [30]
2 years ago
8

A new customer, age 45, has been terminated from his assembly-line job of the past 20 years at an automotive parts supplier. Dur

ing that time period, he has accumulated $124,000 in the company's 401(k) plan. He wishes to rollover the funds to an IRA account with your brokerage firm. This customer, who is an unsophisticated investor, has the entire 401(k) invested in a growth mutual fund and has no other investments. As the representative for this customer, you should be concerned about:________
Business
1 answer:
Gekata [30.6K]2 years ago
5 0

Answer:

communicating effectively with an unsophisticated customer in an understandable manner to assess financial goals and risk tolerance

Explanation:

The new customer who has accumulated $124,000 in his company's 401(k) plan wants to rollover his funds with a brokerage firm.

However he only invested in a growth mutual fund.

This is a scenario that could lead to total loss for the customer if the growth mutual fund fails. A better approach would have been to invest in more than one option.

The first action should be to communicate effectively with the unsophisticated customer in an understandable manner to assess financial goals and risk tolerance.

Based on his Prefered objectives an investment plan can be recommended for him

You might be interested in
A government bond with a coupon rate of 7% makes semiannual coupon payments on January 15 and July 15 of each year. The Wall Str
WINSTONCH [101]

Answer:

invoice price (dirty price) = $1,004.13

Explanation:

semi-annual coupon = $1,000 x 7% x 1/2 = $35

clean price = $1,001.25

accrued interest = (Jan. 30 - Jan. 15) x $35 x 1/182 = $2.88

invoice price (dirty price) = clean price + accrued interest = $1,001.25 + $2.88 = $1,004.13

the dirty price or invoice price of a bond includes any accrued interest that the bond may have earned in the period between the last coupon payment and the transaction date.

7 0
3 years ago
Ollie Company experienced the following events during its first-year operations: 1. Acquired $72,000 cash from the issue of comm
SCORPION-xisa [38]

Answer and Explanation:

The preparation of the statement of changes in stockholders' equity is presented below:

                                                Ollie Company

                      Statement of changes in stockholders' equity

Beginning common stock $0

Add: Common stock issuance $72,000

Ending common stock $72,000

Beginning retained earning $0

Add: Net income $16,000      ($59,000 - $43,000)

Less: cash Dividend paid -$7,000

Ending retained earning $9,000

Total stockholder equity $81,000 ($72,000 + $9,000)

4 0
3 years ago
If an organization's requirements conflict with the software package chosen, and the package cannot be customized, the organizat
gogolik [260]

Answer:

A. change its procedures.

Explanation:

if there is any problem with the procedure and the use of the software, the organization should think about it and change the procedures

5 0
3 years ago
What scenario would call for you to
Alex

Answer:

A.you have plenty of cash flow and are looking to grow with new equipment.

Explanation:

Sana makatulong po sainyo/ihope it helps for you

5 0
3 years ago
For Pronghorn Corporation, year-end plan assets were $2,035,000. At the beginning of the year, plan assets were $1,770,000. Duri
Anni [7]

Answer:

The answer is: $367,000

Explanation:

To determine Pronghorn Corporation's actual return on plan assets we can use the following formula:

return on plan assets = (year-end plan assets - beginning of the year plan assets) - (contribution to the pension fund - benefits paid)

return on plan assets = ($2,035,000 - $1,770,000) - ($116,000 - $218,000)

return on plan assets = $265,000 - (-$102,000) = $265,000 + $102,000

return on plan assets = $367,000

6 0
3 years ago
Other questions:
  • Jake owns Delta Dew, a small local California marijuana producer and dispensary. Jake complies with all applicable state laws an
    11·1 answer
  • Please help! Show work! Will get brainliest!
    6·1 answer
  • Cathy uses, on her new recording drive by, the melody of a song written by earl, without earl's permission. this is
    8·1 answer
  • The inverse demand curve for a monopolist changes from P = 100 – 2Q to P = 120 – 2Q, while the marginal cost of production remai
    13·1 answer
  • Embezzlement, forgery and false swearing are examples of which of the following?
    11·1 answer
  • Using the direct method, Pone Hill Company allocates Janitorial Department costs based on square footage serviced. It allocates
    9·1 answer
  • Octavia has received an email from a customer asking her a question about a product unfortunately Octavia doesn't know the answe
    15·2 answers
  • bartleby Clayborn Corporation's net cash provided by operating activities was $118,800; its net income was $106,100; its income
    13·1 answer
  • As distribution manager, hassan is constantly gathering information about shipping rates, improvements in logistics analysis, an
    5·1 answer
  • As we consider process improvement efforts, when we identify the needs and
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!