Most Recent Finra Series-7 Exam Questions & Answers

Prepare for the Finra General Securities Representative ination (GS) exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Finra Series-7 exam and achieve success.

The questions for Series-7 were last updated on Jan 21, 2025.

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Question No. 1

In a monthly review of customer statements, Bubba notices that one of his firm's clients has paid for seven purchases five days late.

What does he do?

Adecides this situation is acceptable provided payment was received before any securities were sold

Bascertains whether the client had a sufficient bank balance on settlement date

Cnothing because this is not a violation provided the securities were not listed on the NYSE

Dascertains that extensions had been obtained under Reg T

Show Answer

Correct Answer: D

ascertains that extensions had been obtained under Reg T. If valid reasons exist, extension of time for payment may be obtained.

Question No. 2

Bubba buys an OTC stock from a firm that is a market -maker in the stock.

What may be said about the price he pays?

Ait does not include a markup

Bit includes a markup

Cit includes a commission and a markup

Dit includes a special fee

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Correct Answer: B

it includes a markup. A market-maker acts as principal. Therefore, Bubba pays a markup but not a commission.

Question No. 3

A corporate bond is quoted as having a net change in value of plus one point.

By how much did the bond price increase?

A$1,000

B$100

C$10

D$1

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Correct Answer: C

$10. A point is 1% and bonds are priced in $1,000 increments. Multiplying $1,000 by 1% equals $10.

Question No. 4

What does the bond buyer placement ratio represent?

Athe amount of municipal bonds held by banks and insurance companies as a percentage of municipal bonds outstanding

Bthe amount of municipal bonds distributed weekly as a percentage of each week's new issue accounts of more than $1 million

Cthe amount of municipal bonds offered in the daily Blue List as a percentage of the day's new issue amounts of more than $1 million

Dthe par value amount of municipal bonds offered in the Blue List as a percentage of the 30 -day visible supply for competitive and negotiated issues

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Correct Answer: B

the amount of municipal bonds distributed weekly as a percentage of each week's new issue accounts of more than $1 million. This is the definition of the ratio.

Question No. 5

Which of the following statements is pertinent to closed-end investment companies?

Athey are continuously issuing new shares

Bthey are prohibited from issuing any securities other than common stock

Ctheir shares are traded at prices determined in the open market

Dtheir shares are redeemable at net asset value

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Correct Answer: C

their shares are traded at prices determined in the open market. The other choices describe open-end investment companies.

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