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FINRA-SERIES-7 Exam Questions & Answers

Exam Code: FINRA-SERIES-7

Exam Name: FINRA General Securities Representative Examination (GS)

Updated: Apr 19, 2024

Q&As: 400

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Practice These Free Questions and Answers to Pass the FINRA Certifications Exam

Questions 1

Which of the following is an acceptable deposit to answer an NYSE maintenance call?

A. US savings bond

B. SMA

C. US treasury notes

D. all of the above

Show Answer
Questions 2

Reinvestment of dividends and distributions from investment company shares:

A. results in compounding of shares, which can be an important factor for investment growth

B. permits deferment of all federal income taxes on dividends and distributions until the investment is liquidated

C. makes possible the purchase of fund shares at a price below net asset value

D. all of the above

Show Answer
Questions 3

Which of the following best describes phantom income?

A. income from deductions and tax credits

B. the non-taxable portion of a distribution

C. income received but not reported

D. income reported but not received

Show Answer
Questions 4

Bubba buys one XYZ June 40 call for $1,000 and sells one XYZ March 40 call for $600. Subsequently, the June call is closed for $1,200 and the March call for $900.

What is Bubba's net result?

A. $100 loss

B. $100 profit

C. $200 loss

D. $200 profit

Show Answer
Questions 5

The net asset value of a mutual fund was $9.72 last month. This month it is calculated at $9.85. What is the change in value called?

A. yield

B. asset revaluation

C. appreciation

D. capital gain

Show Answer

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