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

Series 7 General Securities Representative Qualification Examination (GS)

Last Update 7 hours ago Total Questions : 400

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Question # 51

Bubba has a cash account and fails to make full and prompt payment for a purchase. The broker liquidated the transaction. Two weeks later, Bubba places another buy order for 100 shares of XYZ.

What does the broker do?

refuses the order

handles the order after obtaining a promise from Bubba to effect prompt settlement

requires a 25% down payment before executing the order

executes the order at its own risk

Question # 52

The maximum contribution an employer may make to a SEP-IRA is:

$4,000

$5,000

25% of employee compensation

100% of employee compensation

Question # 53

Which of the following is not provided for by Blue Sky laws?

registration of representatives

registration of securities offered in the state

interstate mail fraud in securities offerings

registration of securities dealers

Question # 54

In the distribution of a new issue underwriters or selling group member are prohibited from:

selling to the public at the so-called public offering price

selling to another broker or dealer who needs to fill an accommodation order

withholding blocks of a new issue in the member’s account

all of the above

Question # 55

Bubba sells short 100 XYZ at $60 and makes the required Regulation T deposit of 50%. XYZ then rises I price to $65.

At this point what is the credit balance?

$2,500

$3,500

$6,000

$9,000

Question # 56

In the distribution of a new issue, a dealer acting as an underwriter is said to have a:

firm market

divided account

free ride

firm commitment

Question # 57

In order to determine the amount of estate tax due, if any, the assets of a decedent’s estate are valued as of the date of death. A second evaluation is then made:

three months after the date of death

six months after the date of death

one year after the date of death

at any time up to six months after the date of death

Question # 58

Which of the following best describes depreciation?

tax credit available to investors in heavy equipment

deductions from gross income to offset lower value of equipment

return of principal from real estate investors

capitalized an amortized maintenance costs

Question # 59

Bubba buys a bond issued at par with a 5% coupon that is convertible into common stock at $40. The bond increases in value by 20 points.

What is the conversion parity of the stock?

$25

$40

$48

$50

Question # 60

A registered representative just accepted Bubba’s instructions to buy a specific stock in the over-the-counter market with the credit balance in his account.

Which of these orders for that issue can be entered and executed on a single ticket in a typical broker/dealer organization?

buy 150 XYZ at market

buy 150 XYZ at 17.50 or better

buy $2,500 worth of a mutual fund XYZ Corporation

all of these