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20 Cards in this Set
- Front
- Back
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If interest rate rises, what happens to bond prices?
A. Remain The Same B. They Fall C. They Rise |
C. They Rise, due to inverse relationship
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Manalatown, NJ is considering issuing a GO bond to finance some construction projects. What type of revenue will most likely back this bond?
A. Ad valoren B. State Income Tax C. Federal levies on GNMA pass-through distributions. |
A. Ad valorem, method employed by local property tax.
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Which of the foloowing best describes the time period required for filing invesment company advertising with the FINRA?
A. Never B. Within 10 days of first use C. 10 Days prior to first use |
B. Within 10 days of first use.
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Assuming regular way settlement, when do stock and corporate bonds transactions execute over the counter market settlement.
A. T+1 B. T+3 C. T+5 |
B. T+3
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All are true regarding treasury bills except.
A. minimin trade is 1000 B. they trade without accured interest C. interest is federally tax exempt |
C. interest is federally tax exempt
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Which of the following statements about a Roth IRA are false.
A. Taxpayer may be excluded from contributing to a Roth IRA if there income exceeds levels. B. An employed individual may not contribute after 70 1/2 C. Qualified distribuions are tax free. |
B. contributions may be made as long as taxpayer has earned income.
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What is the maximus period of time a letter of intent may cover?
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13 months
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Flo Max has 30 million in US Treasury and 16 million in money market, these assets are considered?
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Part of the firms portfolio
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When purchasing a closed end fund instead of an open end fund, an investor would charge a _____?
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commission
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Ned is 57 retired who lives off his municipal bond portfolio. How much can he contribute to his IRA?
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0
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The last day a customer may pay for a transaction under Reg T
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2 business days after the settlement date.
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A 6.0% coupon bond is trading at 6.67 basis. Whats the relative price of the bond?
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Its trading at a discount.
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Blue Skying Means
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Registering an offering with state securities regulators.
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Allie has 10 shars preferred stock with 6& dividend. If earning rise above a certain threshold, she could receive additional dividend payout. This descried what type of preferred stock?
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Participating preferred.
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1M Vandaley 6:00 1-1-15 99.75
Whats the price? |
997.50
1M=1000 par |
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Emerald Inc has 1000 par convertible bond outstanding. the bonds current market price is 800. The conversion price is $20/share. Whats the converstion ration?
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50:1
1000/20 |
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A firm must treat any form of this complaint, no matter how trivial, as a formal complaint.
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Written/Email
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Paul sold Summit Performance Growth and used proceeds to buy Summit Performance Special Fund? What are the tax implications?
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Taxable event, because he liquidated.
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Broker dealer x is underwriting a new issue and is acting as an agent in all of the following except.
A. Best Efforts B. All or None C. Firm Commitment |
C. Firm Commitment, because if they were in this form of underwriting, they act as principle.
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Municipal bond has a yield of 4.9%. Calculate the taxable equivalent yied in a 35% tax bracket.
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4.9% (100%-35%) = 7.5
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