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Series 7 exam 4 Questions and Answers | 100% Pass #130. Costs associated with variable annuities that are not included in the sales charge may include a) Investment management fees and administrative expenses. b) Premium taxes. c) Mortality risk fee and expense risk fee. d) All of the a...

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  • September 25, 2024
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  • 2024/2025
  • Exam (elaborations)
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

Series 7 exam 4 Questions and Answers
| 100% Pass

#130.

Costs associated with variable annuities that are not included in the sales charge may

include



a)

Investment management fees and administrative expenses.

b)

Premium taxes.

c)

Mortality risk fee and expense risk fee.

d)

All of the above. - Answer✔️✔️-D.

These charges are not included in the sales charge. Depending upon the contract, all

are possible expenses or ongoing charges that are deducted from the separate

account.

#129.

A prospectus can no longer be used if financial information is older than



1/32

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
a)

90 days.

b)

12 months.

c)

13 months.

d)

16 months. - Answer✔️✔️-D.

A prospectus must contain current information about the investment company, and

therefore, a prospectus that includes financial information more than 16 months old can

no longer be sent out to prospective customers.

#128.

The NAV of a mutual fund is $15 per share and the sales charge is 8%. The POP is



a)

$13.80.

b)

$15.80.

c)

$16.30.

d)


2/32

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
$17.00. - Answer✔️✔️-C.

To calculate the POP, use this formula: NAV/(100% - sales charge); $15/(100%-8%);

$15/.92 = $16.30.

#124.

The MSRB's anti-money laundering rules require that a municipal broker/dealer's

procedures contain I. An employee training program. II. A designated independent party

to test the procedures. III. Perpetrator forfeiture rules. IV. SRO reporting procedures.



a)

I and II

b)

I and IV

c)

II and III

d)

III and IV - Answer✔️✔️-A.

In addition, the procedures must contain features to detect suspicious activity and

money laundering activity as well as customer identification procedures.

#120.

XYZ Corp is planning a subsequent primary offering to raise additional capital for

expansion. One of the executives at XYZ Corporation has a large holding of


3/32

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
unregistered shares which he would like to sell in the open market. Which of the

following would be the most suitable offering for this situation?



a)

Registered secondary

b)

Subsequent primary

c)

Shelf offerings

d)

Combined offering - Answer✔️✔️-D.

#114.

A corporation can avoid registration requirements in the issuance of securities by

engaging in a private placement under



a)

Rule 144.

b)

Rule 147.

c)

Regulation D.


4/32

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