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FINRA Series-7 - Series 7 General Securities Representative Qualification Examination (GS)

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Page: 4 / 12
Total 400 questions

For what time period does a Form 144 remain in effect?

A.

30 days

B.

60 days

C.

90 days

D.

one year

Which of the following is considered a firm quotation in the over-the-counter market?

A.

27.50

B.

27.50 workout

C.

27.50 subject

D.

both B and C

Bubba opens a margin account and sells short 100 shares of XYZ at $50. Assuming a Reg T requirement of 50%, what is the opening balance in Bubba’s account?

A.

$10,000

B.

$7,500

C.

$5,000

D.

$2,500

Bubba entered an order to sell long 100 shares of XYZ at 38.75 stop limit. Thereafter, the following round-lot transactions occurred: 38.75, 38.65, 38.50.

At what price was Bubba’s order executed?

A.

38.75

B.

38.65

C.

38.50

D.

it was never executed

Which of the following have a stated interest rate on the face of the certificates?

A.

treasury bills

B.

treasury notes

C.

treasury bonds

D.

both B and C

Service charges by a FINRA dealer for transfer and safekeeping of customer securities held in street name:

A.

may not be levied under FINRA Conduct Rules

B.

may not be levied unless there is no trading in the account for more than six months

C.

may be levied only if the security has a value of less than $5,000

D.

may be levied only if the charge if fair, reasonable, and non-discriminatory

An “accumulation unit” of a variable annuity is used to determine which of the following?

A.

the value of the annuitant’s contract before annuity payments begin

B.

the amount of annuity payments to be paid to the owner

C.

the amount to be passed to the annuitant’s beneficiary

D.

the amount returned to the annuitant upon redemption of the account

Which of the following best describes depreciation?

A.

a tax credit available to investors in heavy equipment

B.

deductions from gross income to offset lower value of equipment

C.

return of principal from real estate investments

D.

capitalized and amortized maintenance costs

How often must Investment companies issue financial statements to shareholders?

A.

monthly

B.

quarterly

C.

semi-annually

D.

annually

Which of the following must be true in order for an offering to qualify as an intrastate offering under Rule 147?

A.

80% of the proceeds of the offering must be used in that state

B.

80% of the corporation’s assets must be located in that state

C.

80% of the corporation’s revenue must be earned in that state

D.

all of the above are required