Which of the following statements regarding a Self Managed Super Funds (SMSF) are incorrect?

Select one:

a.

They permit additional flexibility regarding investment decision making.

b.

They can have up to five members.

c.

SMSFs can borrow directly to finance real estate investment as long as the gearing is positive.

d.

All of the specific statements are correct.

e.

Two of the specific statements are incorrect