Additional Sample Series 7 Questions
-
Which of the following is(are) self-regulatory organizations (SROs)?
I. National Association of Securities Dealers (NASD)
II. New York Stock Exchange (NYSE)
III. Chicago Stock Exchange
IV. Chicago Board Options Exchange
a. I only
b. I and II only
c. I, II, and IV only
d. I, II, III, and IV
-
All of the following are exempt securities under the Securities Act of 1933
EXCEPT:
a. US Treasury issue.
b. Municipal issue.
c. New issue of corporate stock.
d. Building and loan association issue.
-
A customer executes various transactions during the year and realizes a $10,000
net capital loss. What amount can be written off against ordinary income?
a. $ -0-
b. $1,500
c. $3,000
d. $10,000
-
A customer of a brokerage firm in liquidation has an individual account with
$300,000 in securities. The customer and his wife have a joint account with
$500,000 in securities. The wife has an individual account with $300,000
in securities. What will the customers receive under SIPC?
a. $300,000 for the husband's individual account and $200,000 for the joint account.
b. $300,000 for the husband's account and $300,000 for the wife's account.
c. All of the securities for a total of $1,100,000.
d. The husband would receive $100,000 in securities in the individual account and $100,000 in securities from the joint account, and the wife would receive $100,000 in securities in her individual account and $100,000 in securities from the joint account.
-
In which type of account would assets be most readily passed on to a person's
estate.
a. Joint Tenants with Rights of Survivorship (JTWROS)
b. Tenants-in-common.
c. Corporate.
d. Partnership.
-
All of the following would be considered broad based stock indexes EXCEPT:
a. S&P 100 Index.
b. Major Market Index.
c. Computer Technology Index.
d. S&P 500 Index.
-
If the rate of inflation declines rapidly, what is the effect on the market
price of a bond?
a. It will decrease.
b. It will increase.
c. It will cause substantial fluctuations in the price.
d. It will have no effect.
Answer Key to Additional Sample Questions