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FINRA Series7 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Job Functions Overview | - Function 3: Provides Customers with Information About Investments and Makes Suitable Recommendations
|
FINRA General Securities Representative Examination (GS) Sample Questions:
Regulation T is set at 50%. Bubba's account contains long positions in the following securities with the
prices listed
1 00 ABC $30
2 00 XYZ $70
2 00 QBB $40
2 00 KKK $25
Total market value = $30,000
Debit balance in the account = $12,000
Net equity balance of the account = $18,000
If Bubba wants to buy 100 shares of DUM at $30 per share, how much additional money must be
deposited?
- A. $0
- B. $1,500
- C. $2,000
- D. $3,000
Correct Answer: A 🗳️
Explanation: Only visible for DumpsQuestion members. You can sign-up / login (it's free).
Approval for a registered investment company to change is investment objective from income to growth is
required from which of the following?
- A. the FINRA
- B. all of the above
- C. the SEC
- D. a majority of the shareholders
Correct Answer: D 🗳️
Explanation: Only visible for DumpsQuestion members. You can sign-up / login (it's free).
Upon opening a new account for a customer, a registered representative should:
- A. inquire about age
- B. investigate the customer's credit rating
- C. all of the above
- D. determine what is suitable for the customer based upon his financial background
Correct Answer: C 🗳️
Explanation: Only visible for DumpsQuestion members. You can sign-up / login (it's free).
Which of the following securities provides the longest term of option privilege?
- A. calls
- B. puts
- C. warrants
- D. rights
Correct Answer: C 🗳️
Explanation: Only visible for DumpsQuestion members. You can sign-up / login (it's free).
Under Regulation T of the Federal Reserve, when may a broker overlook an amount due in a customer's
account?
- A. if the value of a trade is less than $1,000
- B. under no circumstances
- C. if it does not exceed $1,000
- D. if the client makes a request in writing
Correct Answer: C 🗳️
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