Free Online FINRA Series-7 Practice Test

Prepare Your FINRA Series-7 Exam Questions with Free online Series-7 Practice Test. Get Brilliant General Securities Representative Exam Results with Valid Series 7 Exam Dumps.

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Total 405 Questions | Updated On: May 16, 2024

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Question 1

Which of the following municipal securities carries the full faith and credit of the US government for payment of interest and principal if the issuer’s funds are insufficient?

A : general obligation bonds issued municipalities

B : special tax bonds issued by municipalities

C : revenue bonds issued by municipal port authorities

D : new housing authority bonds issued by a public housing authority

Answer: D

Question 2

A financial institution requesting a quote on a block of 100 bonds from a dealer in

government securities receives a quote of 98.02 bid, 98.06 asked.

What is the dollar amount the institution will receive if the financial institution sells these

bonds to the dealer?’’

A : $98,062.50

B : $98,187.50

C : $98,250.00

D : $98,750.00

Answer: A

Question 3

What is the importance of the “at risk” rule?

A : it limits deductions to the amount at risk

B : it limits liability to the amount at risk

C : deductions for interest may not exceed investment income

D : it prevents carry forward of disallowed interest deductions

Answer: A

Question 4

The expiration date of a listed option is:

A : the last day of the expiration month

B : the third Saturday of the expiration month

C : the Saturday following the third Friday of the expiration month

D : the third Friday of the expiration month

Answer: C

Question 5

Which of the following are direct obligations of the US government?

A : Import-Export bank bonds

B : Series EE bonds

C : Farm Credit System bonds

D : both B and C

Answer: B

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Total 405 Questions | Updated On: May 16, 2024

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