Question: 1. What does the term, qualified mean to the IRS? a. Conforms to everyday use of the term b. Conforms to the IRS rules/requirements for

1. What does the term, "qualified" mean to the IRS?

a. Conforms to everyday use of the term

b. Conforms to the IRS rules/requirements for deduction/exclusion

c. Someone who has the license to perform certain dutues

d. Someone who is competent/qualified to perform certain services


2. If I invest in a Mutual Fund and have the income reinvested into it, when is the dividend taxable to me?

a. Taxable as a capital gain when I sell the stock

b. When I sell all my stock in the Mutual Fund

c. When the dividend was declared by the Board of Directors

d. When the dividend is received

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