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Which of the following statements concerning the prohibited transaction rules is correct?

I. A sale of an investment to the plan from a party in interest is a prohibited transaction unless it is exempted by a statutory, administrative, or individual exemption.
II. The plan's attorney is not a party in interest.

A. I only
B. II only
C. Both I and II
D. Neither I nor II

 

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  • Category:- Basic Finance
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