Pass the FINRA General Securities Representative Series-7 Questions and answers with CertsForce

gross profit

operating income after payment of interest expense

earnings retained after payment of dividends to shareholders

net income

$500

$600

$1,000

unlimited

serial bond maturity date

long-term maturity date

medium-term maturity date

short-term maturity date

may not trade corporate securities under any circumstances

may make purchases but not sales of corporate securities

must deposit the full purchase cost before an order is executed

must deposit sufficient cash for each transaction no later than the settlement date

trade for dealer banks

trade for non-bank dealers

trade for their own account

both A and B

a customer instructs her registered representative to purchase stock in XYZ whenever the representative deems the price to be right

a customer instructs her registered representative to sell 300 shares of ABC that is long in her account whenever the representative thinks the time and price are appropriate

a customer gives a member firm a check for $25,000 and instructs the firm to purchase bank stocks and insurance company stocks when the prices appear to be favorable

both A and C

the entire account is terminated and $104,500 is immediately taxable

a penalty of 10% of the withdrawn amount is assessed

a penalty of 10% on all assets in Bubba’s account is assessed

only regular income tax is due on the amount withdrawn

the customer must approve each transaction in writing before the order is entered

the customer must grant written authorization to the member firm to exercise discretion in the account

the account must be accepted in writing by an officer of the member firm

both B and C

delivery of the underlying securities

delivery of a futures contract

cash

any of the above

0.10%

0.01%

1.00%

0.001%