Free Access FINRA.Series-7.v2023-03-10.q140 Practice Test (Page 14)

Question 61

Bubba's margin account has $2,000 of SMA,. If he buys $10,000 of new securities, how much additional cash must he deposit assuming a Reg T requirement of 50%?

A.$3,000

B.$4,800

C.$5,000

D.$6,000

Question 62

A four-letter symbol assigned to an issue is characteristic of an equity security that is:

A.authorized for inclusion in the NASDAQ system

B.listed on the NYSE

C.admitted to unlisted trading privileges on a regional stock exchange

D.trading in less than 100-share units on the American Stock Exchange

Question 63

To qualify as an intrastate offering under SEC Rule 147, which of the following is true of the issue?

A.it must be approved by the SEC

B.it must be sold only to bona fide residents of one state

C.it cannot exceed $1,500,000 in value

D.it must consist of common stock only

Question 64

Which of the following organizations usually has a prominent role in guiding investment policies of mutual funds?

A.the plan company

B.the management group

C.the custodian bank

D.the underwriter

Question 65

In terms of depletion, percentage depletion is better than cost depletion because it:

A.permits recovery of more than the original cost

B.is limited to production

C.is more widely available

D.is not subject to recapture

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Question 61

Question 62

Question 63

Question 64

Question 65

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