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Last Updated: Aug 29, 2025
No. of Questions: 400 Questions & Answers with Testing Engine
Download Limit: Unlimited
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1. A call option is in the money when the market value of the underlying stock is:
A) higher than the strike price of the option
B) lower than the strike price of the option
C) higher than the strike price plus the premium
D) the same as the strike price of the option
2. A buy-in of a customer's sale transaction is mandated if the securities have not been received by the
broker/dealer within how many business days following the settlement date:
A) 5
B) 30
C) 10
D) 20
3. A 5% markup policy applies to:
A) mutual funds
B) riskless transactions
C) registered secondaries
D) primary distributions
4. Bubba is buying a treasury bill. The discount he receives results in Bubba's determination of:
A) rate of return
B) yield to call
C) nominal yield
D) face value
5. Which of the following statements about the custodian for an open-end mutual fund is correct?
A) the custodian takes part in the sale of fund shares
B) the custodian affords protection against decline in value of fund shares
C) the custodian performs all management, supervisory, or investment functions
D) the custodian may perform an essential clerical service for the fund and its shareholders
Solutions:
Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: D |
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Reginald
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