Section 15 of The Investment Company Act of 1940 spells out many of the specific requirements for the contract between a management investment company and its investment manager. Among those requirements is that:
I. no contract may be terminated with more than 60 days notice in writing.
II. the initial contract is for a maximum of one year and then may be renewed on either an annual or biannual basis.
III. unless a specific exemption applies, the fund may not engage in margin trading .
IV. the contract must be in writing.
A) I and IV.
B) I and III.
C) II and III.
D) II and IV.
Answer: A) I and IV.