Becoming an accredited investor

[Carl Fredrickson]

I'm still a while off from needing these answers, but out of curiosity...

How stringent is the $1million net worth requirement to become an accredited investor? Is it to the penny, or is it more of a rounding thing (so $995,000 is close enough)?

How much detail do you provide when under review?

Once you've been accredited, does the company you're investing with monitor to see that you continue to meet the requirements? For instance, if you had the million, invested some of it in the deal that required accreditation, and then the stock market fell or you put some of the remainder into a primary residence, so that you no longer meet the net worth requirement, does some alarm go off and they suddenly hand you your money back and show you the door? Or do they say the million was there at the time of investment so it's OK to stay?