Free Access FINRA.Series-7.v2023-03-10.q140 Practice Test (Page 6)

Question 21

A 5% markup policy applies to:

A.riskless transactions

B.primary distributions

C.registered secondaries

D.mutual funds

Question 22

Customers who engage in increased activity of wiring money from their account could indicate which of the following activities?

A.Interpositioning

B.Churning

C.Crossing

D.Money laundering

Question 23

Which of the following does not decrease basis?

A.cash or property paid out

B.depletion of real property

C.losses

D.income from extraordinary sources

Question 24

In a monthly review of customer statements, Bubba notices that one of his firm's clients has paid for seven purchases five days late.
What does he do?

A.decides this situation is acceptable provided payment was received before any securities were sold

B.ascertains whether the client had a sufficient bank balance on settlement date

C.nothing because this is not a violation provided the securities were not listed on the NYSE

D.ascertains that extensions had been obtained under Reg T

Question 25

When a corporation issues a nonconvertible debenture, what is the effect upon its net worth?

A.it increases

B.if decreases

C.if is unchanged

D.none of the above

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Question 21

Question 22

Question 23

Question 24

Question 25

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