General Securities Representative Series-7 Release Date

General Securities Representative Qualification Examination (GS) Questions and Answers

Question 5

Which of the following may occasionally be purchased at a discount from net assets value?

no-load funds

closed-end funds

open-end funds

contractual plans

Question 6

FINRA advertising standards permit a dealer to state that a CMO has an implied AAA rating if the securities are issued:

with an average life no longer than ten years

by a US government agency

by a private issuer who has not yet received an expected AAA rating

in amounts less than $1,000,000

Question 7

What does the following mean when printed on the stock exchange ticker tape?

one hundred shares of MST traded on the exchange and appear out of order on the tape

trading was suspended on MST pending dissemination of news

the last sale of MST was for 100 shares at 98.25

the preceding transaction in MST was two or more points different than 98.25

Question 8

An ERISA benefits plan qualified under Section 401(a) of the Internal Revenue Code may:

purchase any IPO security provided the plan is not sponsored solely by a broker/dealer

apply for an exemption

only purchase securities rated “A” or better

purchase only securities issued by the state or federal government