Definitions Flashcards

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1
Q

When a broker-dealer combines a customer’s account with his own or combines a customer’s fully paid securities with margined securities.

A

Commingling

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2
Q

Transactions that are for fewer than 100 shares.

A

Odd lot transactions

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3
Q

Mutual fund orders placed by investors, allowing them to purchase or sell at the next price.

A

Forward Pricing

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4
Q

Accounts that are set up for minors who are too young to have their own accounts. Each account is limited to one minor and one custodian.

A

Uniform Gifts of Minors Act accounts

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5
Q

Simplest form of security registration for established companies. Companies who have previously sold securities in a state can renew their previous application.

A

Notification

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6
Q

Security registration with the SEC and states at the same time. The SEC helps companies meet the blue sky laws by notifying all states in which the securities are to be sold.

A

Coordination

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7
Q

Security registration for securities that are exempt from registration with the SEC but require registration with the state.

A

Qualification

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8
Q

The total number of shares that the company is “authorized” to sell.

A

Authorized Stock

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9
Q

Number of shares that have actually been sold to the public out of the authorized total.

A

Issued Stock

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10
Q

Only stock that votes and that receives dividends.

A

Outstanding Shares

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11
Q

All stock whether authorized, issued or outstanding.

A

Outstanding Stock

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12
Q

Preferred stock with no special features beyond the stated dividend payment. Missed dividends are not paid to the holder.

A

Straight Preferred (noncumulative)

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13
Q

Preferred stock that pays preferred stock holders their current dividends plus the total accumulated dividends.

A

Cumulative preferred

-Safer than straight preferred stock

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14
Q

Preferred stock where the owner can exchange each preferred share for shares of common stock.

A

Convertible Preferred

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15
Q

Preferred stock that offers its owners a share of corporate profits that remain after all dividends and interest due other securities are paid.

A

Participating Preferred

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16
Q

Preferred stock that a company can buy back from investors at a stated price after a specified date. Allows the company to replace a relatively high fixed dividend obligation with a lower one.

A

Callable Preferred (redeemable)