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Series 7 General Securities Representative Qualification Examination (GS) Questions and Answers

Question 61

The price an investor pays for a listed option is called the

strike price

spread

premium

exercise price

Question 62

Which of the following securities is traded only in the over-the-counter market?

corporate bonds

preferred stocks

open-end investment companies

closed-end investment companies

Question 63

As a general rule, when a partnership is terminated, in what order are assets distributed?

general creditors, secured lenders, limited partners, general partners

secured lenders, limited partners, general creditors, general partners

secured lenders, general creditors, limited partners, general partners

general creditors, general partners, limited partners, secured lenders

Question 64

How many days after the settlement date must a broker/dealer “buy in” a customer who has failed to deliver securities?

10 days

15 days

30 days

45 days