19 20 21 22 23 24 QUESTION 12 Which of the following is not a true statement about the differences between the SEC diversification test and the Internal Revenue Code ("IRC") diversification test? O A. Both tests can result in the fund advisor facing financial penalties (one is paid either to the fund and the other to the IRS) OB. SEC is a daily test but IRC is quarterly O C. The SEC test does not have a cure period but the IRC test has a 30 day cure period D. The SEC test applies to non-diversified funds but the IRC test does not