1- A limited partnership investing in raw land would be MOST interested in:
a. Depreciation deductions
b. Consistent income from land
c. Capital gains due to appreciation
d. Depletion allowance
2. - An individual wants to buy an interest in an oil and gas limited partnership that has the LEAST amount of risk. The MOST suitable recommendation would be a(n):
a. Income program
b. Exploratory program
c. Drilling program
d. Balanced program
3. A registered representative is required to certify which TWO of the following choices when a customer is purchasing a limited partnership?
I. That the customer has been advised by an accountant
II. That the customer is in a financial position to be investing in this type of product
III. That the customer has a sufficient net worth to lose his entire investment
IV. That the customer will not be investing in this type of product for a retirement account
a. I and III
b. I and IV
c. II and III
d. II and IV