Online Access Free Series7 Practice Test

In the offering of new securities, members of the syndicate are permitted to sell to other dealers less the
reallowance. The amount of the reallowance is determined by:

• A.the FINRA
• B.the issuing corporation
• C.the syndicate manager
• D.the SEC

Bubba maintains an individual cash account as well as a joint account with his wife, Bubbette. While
Bubba is out of town on a fishing trip, Bubbette calls the brokerage firm with an order to buy 100 shares of
Great Company, Inc., at the market value for Bubba individual account. It is a stock Bubba has previously
informed the brokerage he wanted to buy at the "right price". What does the brokerage do?

• A.refuse to accept the order unless Bubba has provided a signed trading authorization in favor of
  Bubbette
• B.buy the stock in the joint account and, after verification from Bubba, journal the security to his individual
  account
• C.enter the order only after receipt of written instructions to do so from Bubba
• D.execute the order as requested

Which of the following stock exchanges is not registered with the SEC?

• A.Chicago Stock Exchange
• B.Pacific Stock Exchange
• C.all are registered
• D.Boston Stock Exchange

A typical money market instrument carries which of the following?

• A.short-term maturity date
• B.medium-term maturity date
• C.long-term maturity date
• D.serial bond maturity date

How much currency is one mil worth?

• A.one-tenth of $1,000
• B.one-tenth of $1
• C.one-tenth of one cent
• D.one-tenth of $100