5972726
Descripción
Test por Zach Taylor, actualizado hace más de 1 año
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Creado por Zach Taylor
hace casi 8 años
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Pregunta 1
Pregunta
Which of the following statements is true regarding separate accounts and general accounts?
Respuesta
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both types of accounts are registered under the Investment Company Act of 1940
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both types of accounts pay a guaranteed minimum return
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the sub accounts of variable annuity may include both types of accounts
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General accounts hold bonds while separate accounts hold equities
Pregunta 2
Pregunta
The method of determining the offering price of an open-end investment company is
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shown in the prospectus
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set by the SEC
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the net asset value plus commission costs
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based upon the supply and demand for securities
Pregunta 3
Pregunta
Which of the following is most likely to cause the nav of a bond mutual fund to decline?
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the FED tightens the money supply
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inflation decreases
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the S&P 500 Index Rises at a 6% annual rate
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the treasury Department Dotrice is the amount of treasury bills being issued
Pregunta 4
Pregunta
Upon examining the prospectus of an open-end investment company, you notice that the net investment income increased at a greater rate than did the gross investment income. From this fact you may assume that
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there was an increase in the shares outstanding
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the fund retained most of its dividend income for that period
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the fund invested in growth companies stocks that are characterized as paying a low rate of dividends
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the expenses of the fund increased at a lower rate over that period
Pregunta 5
Pregunta
What is covered by the code of procedure?
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just and Equitable business conduct and Equitable principles of trade
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standardization of trading practices in the OTC market among members
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complaints involving Trade Practices of members
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anti-fraud measures involving new issues
Pregunta 6
Pregunta
If the current dividend distribution of a company's common stock has increased by 7%, while the market price has increased by 9%, the current yield of this stock has
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increased
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decreased
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remained the same
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fluctuated greatly
Pregunta 7
Pregunta
Which of the following terms could be applied to a mutual fund that does not charge a front-end load or a contingent deferred sales charge, but which does have a 12b - 1 fee of 1%?
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no load
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level load
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spread load
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directly marketed fund
Pregunta 8
Pregunta
An insurance company May override a variable life policy holders right to
I. Vote to change the investment policies of the separate account
I I. Receive a proxy, if available
Iii. Reject the selection of an investment adviser to the separate account
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I only
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2 and 3 only
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one two and three
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none of the above
Pregunta 9
Pregunta
When examining the bid and ask quotations of two over-the-counter stocks that you follow, you notice that the spreads between their bid and ask prices are dramatically different. From this, you could probably assume that
Respuesta
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the stock with the narrower spread is more active than the stock with the wider spread
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the stock with the wider spread is more active than the stock with the narrower spread
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the stock with the wider spread will always be less expensive in the long run
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no conclusion can be drawn from this information
Pregunta 10
Pregunta
Which of the following is not a characteristic of an exchange?
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set standards for Securities that trade on it
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provides a place for buyer and sellers of Securities to meet
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is the market where investors usually buy and sell mutual funds
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must comply with SEC rules
Pregunta 11
Pregunta
The net investment income from an open-end investment company consist of
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all profits from the investment companies operation
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dividends, interest, and net capital gains on sales of portfolio securities
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only net capital gains on sales of portfolio securities
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only net income from dividends and interest paid on Securities in the fund's portfolio
Pregunta 12
Pregunta
Someone is interested in international investing. The RR send the prospect a prospectus for an international Equity Fund. Which of the following May the RR do in order to help the client understand that the risks of the fund?
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highlight the relevant sections of the prospectus
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create a short summary of the funds risk and give it to the client
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provide the client with supplemental sales literature about the fund
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tell the client to ignore the prospectus and read the statement of additional information instead
Pregunta 13
Pregunta
An investor wishes to establish a tax loss but still wants to own the same security. The customer sells the security at a loss and repurchase is it two weeks later. The tax loss is
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established
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recognized
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disallowed
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amortized
Pregunta 14
Pregunta
The rep has prepared a script and a slide presentation for a seminar. She will also hand out a brochure created by her firm and a prospectus for the funds. And this situation all of the following should be filed with finra except
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the script
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the slide presentation
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the prospectus
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the brochure
Pregunta 15
Pregunta
Which of the following statements is true of both common and preferred stocks?
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both have a fixed dividend
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the board of directors must declare the dividends for both
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both are guaranteed to receive an annual dividend
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both have an equal vote on corporate issues
Pregunta 16
Pregunta
Which of the following employment activities would RRs not have to report to their employing broker-dealer
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, part-time employment as a bartender
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participating as a silent partner in a relative's business
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acting as the manager of a sporting good store on the weekends
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operating an internet business from home as a sole proprietor
Pregunta 17
Pregunta
When making a recommendation of a high-risk mutual fund to a customer, which of the following is least important?
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financial status
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tax status
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investment objectives
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ability to sustain a large loss
Pregunta 18
Pregunta
Which of the following is a municipal Bond? Back by the full faith and credit of the issuer?
Respuesta
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debenture
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a revenue Bond
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GO Bond
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an income bond
Pregunta 19
Pregunta
The cash value of a variable life insurance policy is calculated
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daily
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weekly
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monthly
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annually
Pregunta 20
Pregunta
An investor who writes a check on a mutual fund account is
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borrowing money from a bank
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drawing on a cash deposit
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redeeming mutual fund shares
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using a revolving charge facility
Pregunta 21
Pregunta
An investor has been investing $100 a month and a contractual plan that has a 50% sales charge in the first year and a 4% sales charge per year after the first. What is the total amount of sales charge paid during the first 17 months?
Respuesta
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$93
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$450
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$600
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$620
Pregunta 22
Pregunta
Which of the following investment companies will not charge a management fee?
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open-end investment companies
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closed-end investment companies
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face amount certificate companies
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unit Investment trusts
Pregunta 23
Pregunta
Which of the following would be found in a mutual fund prospectus?
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a list of Securities in the fund's portfolio
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the phone's current nav
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a description of the management fee
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a balance sheet
Pregunta 24
Pregunta
An individual invest $400 per month into a front-end load contractual plan for 12 months and now wishes to terminate the plan. How much would the individual receive upon termination of the plan?
Respuesta
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the total amount invested
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the value of the account plus the sales charge
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the value of the account plus a portion of the sales charge
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nothing
Pregunta 25
Pregunta
One Prime objective objective of the Investment Company Act of 1940 is to
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ensure that practices on stock exchanges are similar throughout the country
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control the OTC market and prevent another market crash
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ensure that individual investors are provided with full and fair disclosure regarding securities
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ensure that individuals investing in investment company shares are fully informed and fairly treated
Pregunta 26
Pregunta
The value of an Investor's interest in a variable annuity during the accumulation period it's subject to fluctuation according to the
Respuesta
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AIR
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amount of money deposited
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performance of the separate account
Pregunta 27
Pregunta
A company declares dividend, payable on June 5th to stockholders of record on May 20th. An investor who buys the stock and a regular way transaction on Tuesday, May 19th
Respuesta
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is entitled to the dividend
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is not entitled to the dividend because the stock is already selling ex-dividend
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is entitled to a due bill
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cannot settle the trade until June 5th
Pregunta 28
Pregunta
The Johnsons want to purchase life insurance that will provide the potential for appreciation of future benefits, but are uncertain how much to purchase due to the unpredictable nature of Alan's income. Which of the following is the most appropriate
Respuesta
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whole life insurance
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variable life insurance
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universal life insurance
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variable universal life insurance
Pregunta 29
Pregunta
A method of voting that gives larger substantial stockholders a greater degree of voting power over the smaller, less substantial stockholders would be
Respuesta
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statutory voting
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cumulative
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voting by proxy
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special majority voting
Pregunta 30
Pregunta
And uncle is a custodian for his minor nephews account. The nephew receives rights to subscribe to additional shares of stock held in the account. As custodian, the uncle can
Respuesta
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sell the rights
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subscribe to the stock offering
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buy additional rides to subscribe if additional rights are needed
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do whatever he considers to be in the best interest of the minor
Pregunta 31
Pregunta
An open-end investment company with the objective of growth wishes to change its investment objectives to growth and income. This may be done with
Respuesta
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a majority vote of outstanding shares
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a majority vote of the outstanding shareholders
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at least 90% consent of the outstanding shareholders
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the unanimous vote of the board of directors
Pregunta 32
Pregunta
If a customer has been refused an extension after 5 business days and has not paid for stock, and member firm
Respuesta
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must cancel or otherwise liquidate the transaction by selling out the Securities promptly
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must Sue the customer for the money
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May Grant an extension if the member Deans the customer to be reliable
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must close the customer's account
Pregunta 33
Pregunta
An investor who is studying various funds Holdings is interested in an equity income fund. The investor would most likely choose a fun holding Securities of
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companies that consistently an above average income
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companies with a liberal payout ratios
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growth companies
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companies whose bonds are rated investment grade
Pregunta 34
Pregunta
The management fee that a mutual fund pays to its investment advisor is
Respuesta
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based on the amount of assets under management
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part of the acquisition cost the purchaser must pay
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a cost to the sponsor of the fund
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a non-recurring expense of the sponsor
Pregunta 35
Pregunta
A US Government Bond is selling in the Market at 95.28. The dollar value of this bond is
Respuesta
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$950.87
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$952.80
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$958.75
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$9,587.50
Pregunta 36
Pregunta
The customer receives a confirmation for a Securities transaction. The confirmation discloses that the broker-dealer acted in the capacity of a dealer. This means the firm acted
Respuesta
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agent
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intermediary
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principal
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broker
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