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Finra Series-7 Exam Questions
- Topic 1: Prospectus in a Registration Statement at the Time of Effectiveness/ Limitations on Benefits and Contributions Under Qualified Plans
- Topic 2: Authorization Records for Negotiable Instruments Drawn from a Customer’s Accounts/ Standards and required approvals of public communications
- Topic 3: Seminars, lectures and other group forum requirements/ Persons Deemed Not To Be Engaged in a Distribution and Therefore Not Underwriters
- Topic 4: Restrictions on the Purchase and Sale of Initial Equity Public Offerings/ Networking Arrangements Between Members and Financial Institutions
- Topic 5: Transactions withEmployees and Partners of Other Municipal Securities Professionals/ Communications with the Public about Variable Life Insurance and Variable Annuities
- Topic 6: Summary Prospectuses for Open-End Management Investment Companies/ Approval and Documentation of Changes in Account Name or Designation
- Topic 7: Communications with the Public about Collateralized Mortgage Obligations (CMOs)/ Options-related communications; options disclosure document (ODD)
Free Finra Series-7 Exam Actual Questions
Note: Premium Questions for Series-7 were last updated On Dec. 22, 2024 (see below)
Which of the following best describes depreciation?
deductions from gross income to offset lower value of equipment. Depreciation is the deduction of costs for capital assets as their value declines.
Bubba buys one XYZ October 80 put and sells one XYZ October 70 put.
What is his position called?
money spread. Since the strike prices are different, but not the expiration date, this is a money spread (sometimes called a ''price spread'' or a ''vertical spread'').
Which of the following persons would consider annual reports of a corporation as the most important factor in making investment decisions?
a fundamental analyst. These analysts are guided by computations about a company's performance using data in annual reports.
Bubba buys one XYZ November 65 call at $3 and one XYZ November 65 put at $2. XYZ is trading at $72. The put expires and the call is closed at its intrinsic value.
What is the resulting profit?
$200. Since XYZ is trading at 72, a November 65 call has an intrinsic value of $700. A sale at that value compared to the cost of $300 is a profit of $400. Subtract the loss of $200 on the expired put to obtain the profit of $200.
Bubba is long spot Canadian dollars at 0.7400. If he wants to buy one put option on Canadian dollars with a strike price of 74 and a cost of $0.35, what is Bubba's breakeven price for Canadian dollars?
0.7435. The put protects against a decline in the exchange rate for Canadian dollars. However, the cost of the put raises the breakeven point to 0.7435 (0.7400 + 0.0035).
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