Legit Series-7 Exam Download

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

Question 53

Bubba has been classified as a restricted person according to Rule 2790. He may purchase equity securities of an IPO except:

to purchase securities to avoid dilution

when the new issue of securities is purchased pursuant to a stand-by agreement

when the transaction is exempt by an order of the FINRA

when the new issue of securities is purchased pursuant to a best effort basis

Question 54

Which of the following is true of treasury stock?

it has voting rights

it is entitled to receive dividends

it is stock that has not been issued

it is stock that has been reacquired by the issuer

Question 55

The FINRA Conduct Rules permit a transaction made “seller’s option” to be delivered earlier than the expiration of the contract if:

the buyer is given one-day notice in writing

the seller is located in New York City

the client requests it

the buyer is a non-clearing member

Question 56

Commercial paper is typically issued with a maturity date not exceeding:

90 days

6 months

270 days

1 year