Legit Series-7 Exam Download

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

The general purpose of the Securities Act of 1933 is to:

regulate the activities of investment advisers

regulate the sale of securities on national exchanges

provide for disclosure of information about new securities offerings

provide for disclosure of the financial condition of underwriters

Question 55

Which of the following is not provided for by Blue Sky laws?

registration of representatives

registration of securities offered in the state

interstate mail fraud in securities offerings

registration of securities dealers

Question 56

Which of the following does not issue debt securities that trade in the open market?

Fannie Mae

Freddie Mac

Federal Reserve Banks

Federal Land Banks