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General Securities Representative Series-7 Release Date

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Total 400 questions

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

Question 5

If recaptured deductions are added to income, recaptured investment tax credits are added to:

Options:

A.

income

B.

basis

C.

gains

D.

taxes

Question 6

Initial margin deposit minimum requirements are set by the:

Options:

A.

NYSE

B.

FINRA

C.

FRB

D.

FDIC

Question 7

Bubba buys $100,000 of US Treasury 10½ s of 31 on margin. If the current market price is 92.16, what is Bubba’s minimum deposit requirement?

Options:

A.

$4,625

B.

$5,550

C.

$10,000

D.

$25,000

Question 8

In June, Bubba bought 100 shares of XYZ at $35. In November, he bought a listed put in XYZ with a $35 strike price and a July expiration for a premium of $600.

If Bubba sells the stock at $45 in July, what is his resulting tax liability for that transaction?

Options:

A.

no liability established until the offsetting option position is closed

B.

a $400 gain

C.

a $1,000 gain

D.

a $400 capital loss

Page: 2 / 30
Total 400 questions