Examen
Series 7 - General Securities Representative Exam 2024/2025 WITH 100% PASSED
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Series 7 - General Securities Representative Exam 2024/2025 WITH 100% PASSED
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Series 7 - General SecuritiesRepresentative Exam 2024/2025
WITH 100% PASSED
GO bonds, because they are paid using tax revenue - //What type of bond
is subject to a debt ceiling?
1. Secured Creditors
2. IRS
3. Unpaid Workers
4. Unsecured Creditors
5. Stockholders - //Liquidation order in Corporate Bankruptcy
Moody's Investment Grade
Aaa - Investment Grade
Aa
A
Baa - Investment Grade
Ba - Speculative
B
Caa - Speculative
Ca - Junk
C - //What is MIG?
,Industrial Development Revenue Bond (IDR) - //A bond issued by a
municipality that is secured by a lease agreement with a private corporation
Clearing, settlement, and information services - //What services does the
Depository Trust and Clearing Corporation (DTCC) provide to its
members?
General creditors - //Customers become ________ if their cash or
securities positions exceed SIPC coverage
Stock Legend - //A notice on stock certificates stating that selling is
restricted unless the shares are SEC-registered or exempt
To establish & modify the Unform Securities Act (USIA), which is the basis
for most states securities laws. - //What is the NASAA (North American
Securities Administrators Association) primary responsibility?
OTCBB (Over the Counter Bulletin Board) & Pink Sheets - //Where can you
find quotes for stocks not listed on an exchange or Nasdaq?
True - //True or False: The MSRB has no authority or control over
municipal issuers.
- Municipal Securities Rulemaking Board
False - Decisions are binding on both parties & are not appealed - //True or
False: Decisions arising from arbitration may be appealed to the federal
court system
- FDIC (Federal Depository Insurance Corporation) ensures bank deposits
,- SIPC (Securities Investor Protection Corporation) protects from BD
bankruptcy - //How is the FDIC different from SIPC?
broker, agency - //A ______ is any person that executes ______
transactions in securities for the account of others.
False - The rating is based on the corporation's vulnerability to defaulting
on financial obligations
- IDR (Issuer Default Rating) - //True or False: The credit rating of an IDR is
based on the credit of the municipality.
Tax Anticipation Notes (TANs) - //Municipal notes that are used to finance
current operations in anticipation of future tax receipts. They help provide
cash flows to the municipality in between tax collection periods.
NAV + SC = POP
Net asset value + sales charged = public offering price - //Sale's Charge
Formula
Wrap Account - //Account that allows brokerage clients with large portfolios
to shift stock selection decisions to a professional money manager, in
return for a flat annual fee
False - Code of Procedure - //True or False: Rule violations are handled by
the Code of Arbitration
Marketable (Negotiable), Non-Marketable (Non-Negotiable) - //2 General
Types of Treasuries
, Prime-Brokerage Arrangement - //A situation in which multiple BDs execute
a client's trades and report them to one independent BD for settlement
Fourth Market - //The __________ market refers to direct, institution-to-
institution trading & doesn't involve public exchanges
- Full disabled
- Omnibus - //What are the 2 types of arrangements that an introducing firm
can have with a carrying firm?
Securities Exchange Act of 1934 - //Which federal law governs the
registration of RRs (Registered Reps) & their firms?
Chicago Board Options Exchange (CBOE) - //The SRO with jurisdiction
over all writing and trading of standardized options and related contracts
listed on that exchange. Also, the first national securities exchange for the
trading of listed options.
Securities Investor Protection Act of 1970 - //-Created SIPC to protect
against BD bankruptcy
-$500,000 coverage per separate customer of which no more than
$250,000 may be in the form of cash
Over-the-Counter Market - //a network of dealers who negotiate (buy and
sell) the stocks of corporations that are not listed on a securities exchange
Code of Procedure (COP) - //The ______ covers disciplinary actions by
FINRA against member firms & their employees.
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