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STC Series 7 Progress Exam 1B Questions and Answers 100% Pass
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STC Series 7 Progress Exam 1B Questions and Answers 100% Pass An RR has a potential customer who is interested in international investing and sends the person a prospectus for an international equity fund. The customer then visits the RR's office to ask some questions about the types of risks t...

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  • November 19, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • stc series 7 progress exam 1b questions and answer

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  • STC
  • STC

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STC Series 7 Progress Exam 1B
Questions and Answers 100% Pass

An RR has a potential customer who is interested in international investing and sends

the person a prospectus for an international equity fund. The customer then visits the

RR's office to ask some questions about the types of risks that are associated with the

fund. In order to help the client understand the risks of the fund, which of the following

actions may the RR perform?


A. Highlight the relevant sections of the prospectus


B. Create a summary of the fund's risks and provide it to the client


C. Provide the client with supplemental sales literature regarding the fund


D. Tell the client to ignore the prospectus and read the statement of additional

information instead - ANSWER✔✔-C. Provide the client with supplemental sales

literature regarding the fund


RRs may not alter a prospectus in any way and they may not tell clients to disregard its

contents. However, a client may be given supplemental sales literature provided it is

properly approved and accompanied with or preceded by a prospectus. Materials that




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/14

, are directly created by RRs (e.g., summaries) may be considered sales literature and

should not be used unless they have been approved by a principal.


Series K preferred stock has which TWO of the following characteristics?


I. The dividend payable begins at a fixed rate and switches to a floating rate.


II. The dividend payable begins at a floating rate and switches to a fixed rate.


III. The dividend is cumulative.


IV. The dividend is non-cumulative.


A. I and III


B. I and IV


C. II and III


D. II and IV - ANSWER✔✔-B. I and IV


Series K preferred stock has the following characteristics:


It is issued by a financial service company


It has no maturity date


It pays a fixed rate for a period and switches to a floating rate (usually based on LIBOR)


It's dividend is non-cumulative and it may not carry voting rights


It is callable at the option of the issuer



Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/14

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