Security Industry Essentials Practice Test 22

1. All of the following sectors are considered cyclical EXCEPT

2. Which of the following events would subject an individual to a statutory disqualification?

3. Pursuant to Regulation S-P, a broker-dealer must provide a privacy notice to a customer

4. Which of the following regulators enforce the MSRB rules for securities firms?

5. Noreen and her husband Jeff, residents of New York City, have just had their first child Ali. They are interested in opening a 529 Plan for Ali in order to save for her future college education. As a registered representative, it would be most appropriate to tell them

6. Trader R hears news from an underwriter that his firm will be buying a large block of XYZ Co stock. If R buys shares of the stock before the news is made public, he is engaged in

7. A primary difference between Ginnie Mae and Fannie Mae/Freddie Mac is that Ginnie Mae

8. If a customer wishes to open a short margin account and sell short 100 shares of stock at $15 per share, the customer must deposit

9. The theory that says the economy is best controlled through taxation and government spending is known as

10. Preferred stock includes which of the following features?

I. Voting rights

II. Priority over debentures in a corporate liquidation

III. Dividends if declared by the Board of Directors

11. An investor sells short 100 shares of XYZ stock at 61 and buys 1 XYZ 65 call for 1.50 When the market price of ABC is 62. What is the investor's breakeven on the combined positions?

12. When opening a minor's account, the social security number to be used is that of the

13. Which of the following organizations guarantees the performance of standardized options contracts?

14. In order to receive a dividend, a shareholder must own stock as of the

15. A municipal finance professional at JoeBrokerDealer made a contribution of $500 to candidate in a local election that resulted in a ban on underwriting activity. A month later the MFP joined a new municipal securities firm, JaneBrokerDealer. The remainder of the two-year ban will apply to

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