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- Question 117
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Question 117/141
A market-maker has purchased a particular stock over a period of time for prices as high as $9 per share
and as low as $3 per share. The average cost is approximately $6 per share. The current NASDAQ quote
for the stock is 5 to 5.25. According to the FINRA Conduct Rules, the dealer's offering price to the public
should be based upon:
and as low as $3 per share. The average cost is approximately $6 per share. The current NASDAQ quote
for the stock is 5 to 5.25. According to the FINRA Conduct Rules, the dealer's offering price to the public
should be based upon:
Correct Answer: A
the current market for the stock. FINRA rules require the markup to be based upon the
current market price.
current market price.
- Question List (141q)
- Question 1: Municipalities are most likely to issue notes for which of t...
- Question 2: The initial Federal Reserve Bank margin requirement is set a...
- Question 3: Level III of NASDAQ provides which of the following?...
- Question 4: Bubba buys 100 shares of XYZ stock at $40 per share and sell...
- Question 5: How often must Investment companies issue financial statemen...
- Question 6: In what broad category of municipal bonds are "limited tax" ...
- Question 7: Which of the following statements is not true about exchange...
- Question 8: Bubba's order to purchase investment company shares must be ...
- Question 9: In a best efforts distribution of a new non-exempt issue, a ...
- Question 10: If a customer dies, the registered representative is require...
- Question 11: Bubba buys "double-barreled" municipal bonds. What is the so...
- Question 12: A new stock offering by Bubba Corporation provides details t...
- Question 13: What percentage of maintenance charges and debt service are ...
- Question 14: Bubba buys a 5% bond that matures in 15 years with a 5.10 ba...
- Question 15: Which of the following sets of prices is that of a closed-en...
- Question 16: Which of the following is not found in the final prospectus?...
- Question 17: In a triple net lease, which of the following is the tenant ...
- Question 18: Maintaining a fair and orderly market and acting as a broker...
- Question 19: Feasibility studies and engineering surveys are most necessa...
- Question 20: Which of the following is not true about US treasury bills?...
- Question 21: Which of the following does not appear in the official notic...
- Question 22: Which of the following would not be subject to the holding p...
- Question 23: Registration of open-end investment company shares with the ...
- Question 24: The definition of debentures is:...
- Question 25: Bubba buys one XYZ September 50 call at $7 and sells one XYZ...
- Question 26: The minimum denomination for a US treasury bond is:...
- Question 27: When the Federal Reserve lowers reserve requirements, what i...
- Question 28: Under the Investment Company Act of 1940, what is the minimu...
- Question 29: Upon opening a new account for a customer, a registered repr...
- Question 30: Bubba is buying a Federal Home Loan Bank issue that is offer...
- Question 31: The Securities Act of 1933 provides for:...
- Question 32: Which of the following have a stated interest rate on the fa...
- Question 33: Bubba Corporation has net income of $4,200,000. It has 100,0...
- Question 34: If a mutual fund has invested its assets by allocating about...
- Question 35: In the distribution of a new issue, a dealer acting as an un...
- Question 36: Bubba's margin account has $2,000 of SMA. If he buys $10,000...
- Question 37: When depositors withdraw money from savings institutions to ...
- Question 38: Book value of a corporation is also know as:...
- Question 39: Who is responsible for verifying that limited partners meet ...
- Question 40: A mutual fund custodian is paid according to which of the fo...
- Question 41: If recaptured deductions are added to income, recaptured inv...
- Question 42: With respect to the public offering of securities by an unde...
- Question 43: Which of the following securities is traded only in the over...
- Question 44: The accounting statement that represents a company's financi...
- Question 45: Assuming all of the following bonds from the same issuer are...
- Question 46: Which of the following is not true about brokerage accounts?...
- Question 47: Which of the following is not in the subscription agreement ...
- Question 48: Bubba wants to buy 500 shares of an NYSE listed stock at 38....
- Question 49: In a monthly review of customer statements, Bubba notices th...
- Question 50: For an FINRA member firm to exercise discretionary power in ...
- Question 51: How many days after the settlement date must a broker/dealer...
- Question 52: Bubba decides to buy equity securities. Which of the followi...
- Question 53: The public offering price of the securities of an open-end m...
- Question 54: Which of the following does not issue debt securities that t...
- Question 55: Bubba sells short 100 XYZ at $60 and makes the required Regu...
- Question 56: Bubba entered an order to sell long 100 shares of XYZ at 38....
- Question 57: The agreement between the members of a syndicate and the man...
- Question 58: Which of the following receives the highest priority of a mu...
- Question 59: Which of the following are considered to be discretionary or...
- Question 60: Which of the following types of investment companies pays ou...
- Question 61: Bubba has a short margin account with a short market value o...
- Question 62: Bubba is buying a treasury bill. The discount he receives re...
- Question 63: In a securities underwriting a participating firm is said to...
- Question 64: Bubba has not existing positions in his account and writes 1...
- Question 65: The Bubba Insurance Company is not incorporated. It consists...
- Question 66: Bubba buys a ten-year municipal and at 102 and sells it five...
- Question 67: Which of the following sources provides news of prospective ...
- Question 68: What Federal Reserve Board regulation governs the extension ...
- Question 69: In order to determine the amount of estate tax due, if any, ...
- Question 70: Which of the following situations is possible for a writer o...
- Question 71: A large manufacturing company has current assets of approxim...
- Question 72: A corporation makes a rights offering to raise $10 million o...
- Question 73: Which of the following is not a practice of a mutual fund cu...
- Question 74: A company earns $6 per share and pays out 20% in common stoc...
- Question 75: A NYSE floor member executing an order for a public customer...
- Question 76: Service charges by a FINRA dealer for transfer and safekeepi...
- Question 77: Which securities do not receive dividends?...
- Question 78: Bubba Corporation has a profit sharing plan. The company pre...
- Question 79: Bubba opens a new account with a broker/dealer and asks for ...
- Question 80: Bubba owns stock with cumulative voting rights. There are fi...
- Question 81: On which of the following is depreciation permitted?...
- Question 82: What is the loan value on a call option held in a customer's...
- Question 83: How much money is a concession of 3/8 worth for one municipa...
- Question 84: Which of the following statements about the custodian for an...
- Question 85: The practice of positioning stock in response to a customer'...
- Question 86: For what time period does a Form 144 remain in effect?...
- Question 87: A trust instrument drawn pursuant to the Trust Indenture Act...
- Question 88: An investment company acting as a conduit in the distributio...
- Question 89: Which of the following activities by a limited partner may s...
- Question 90: A four-letter symbol assigned to an issue is characteristic ...
- Question 91: Which of the following is not classified as a money market i...
- Question 92: The cost of maintaining an investment in a mutual fund is be...
- Question 93: CMOs are sold and priced based upon which of the following:...
- Question 94: Which of the following will not result in termination of a l...
- Question 95: Bubba Corporation owes income tax. Which of the following ma...
- Question 96: Bubba holds 200 shares of common stock in a utility company ...
- Question 97: The total assets of a corporation are $840,000, of which $35...
- Question 98: An excerpt from a recent tombstone ad reveals bonds offered ...
- Question 99: Call loans made by banks to broker/dealers are generally for...
- Question 100: The Bubba Corporation is offering stock to the public for th...
- Question 101: Which of the following oil and gas programs does not directl...
- Question 102: With the Regulation T requirement at 50%, a firm wishes to i...
- Question 103: Municipal syndicate allocation procedures are described in w...
- Question 104: Bubba owns a perpetual warrant to buy one share of Internet ...
- Question 105: What percentage load is associated with a mutual fund quoted...
- Question 106: A provision under which an underwriter can cancel a proposed...
- Question 107: Which of the following is considered an intangible asset?...
- Question 108: A mutual fund with an 8% load and a 1% redemption fee carrie...
- Question 109: If a municipality has funds available to make a partial call...
- Question 110: Which of the following may occasionally be purchased at a di...
- Question 111: Bubba has been classified as a restricted person according t...
- Question 112: Hypothecation usually refers to which of the following?...
- Question 113: Under what conditions may an FINRA member firm sell an IPO t...
- Question 114: Bubba buys a 5% municipal bond maturing in 15 years that is ...
- Question 115: If federal excise taxes were increased by the government, wh...
- Question 116: The most common type of bond issued by a well-established co...
- Question 117: A market-maker has purchased a particular stock over a perio...
- Question 118: Bubba buys a bond issued at par with a 5% coupon that is con...
- Question 119: Bubba owns 200 shares of XYZ at $90, and wishes to hedge the...
- Question 120: A registered representative is given a limited trading autho...
- Question 121: The FINRA markup policy applies to:...
- Question 122: Bubba's pledge to purchase a specified dollar amount of a mu...
- Question 123: Which of the following is considered a firm quotation in the...
- Question 124: When a corporation issues a nonconvertible debenture, what i...
- Question 125: What is the term applied to a classification of CMO securiti...
- Question 126: In a corporation's financial statements, earned surplus is a...
- Question 127: Bubba Corporation has 3,500,000 shares of common stock outst...
- Question 128: Which of the following forms of underwriting is least likely...
- Question 129: Bubba is long spot Canadian dollars at 0.7400. If he wants t...
- Question 130: Which of the following price quotes is representative of a t...
- Question 131: The Bubba Fund is a load mutual fund that offers a reinvestm...
- Question 132: An employer profit sharing plan may be described as:...
- Question 133: Which of the following are direct obligations of the US gove...
- Question 134: A mutual fund characterized by a modest sales charge and an ...
- Question 135: Regulation T is set at 50%. Bubba's account contains long po...
- Question 136: In a competitive bidding for mortgage bonds of a large publi...
- Question 137: The registration requirements of the federal securities acts...
- Question 138: What does the bond buyer placement ratio represent?...
- Question 139: In terms of depletion, percentage depletion is better than c...
- Question 140: Commercial paper is typically issued with a maturity date no...
- Question 141: Bonds are most often quoted as a percentage of:...
