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Series 7 Study > Practice Questions > Flashcards

Practice Questions Flashcards

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Series 7 Top-off Exam flashcards
1
Q

Net Worth Formula

A

Assets - Liabilities = Net Worth

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2
Q

Outstanding Stock Formula

A

Issued Stock - Treasury Stock = Outstanding Stock

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3
Q

YTM at a Premium Formula

A

(Annual Int. - (Premium / Yrs to Mat.)) / Avg. $ of the bond

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4
Q

YTM at a Discount formula

A

(Annual Int. + (Discount / Yrs. To Mat.) / Avg $ of the bond

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5
Q

Ex Rights Formula

A

(CMV - Subscription $) / # of rights

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6
Q

Cum Rights formula

A

(CMV - Subscription $) / # of rights + 1

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7
Q

Reverse and Forward Split Formula

A

of shares * first # / second

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8
Q

Current Yield

A

Annual income / Investment

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9
Q

Muni Bond Quote

A

% of par, in fractions of 1/8th

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10
Q

Corp. Bond Quote

A

% of par, in fractions of 1/8

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11
Q

YTM Basis is also known as…

A

Basis Quote

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12
Q

Workable Indication

A

Dealer to dealer purchase of bonds

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13
Q

Nominal Quote

A

Informational purposes only on purchasing bonds

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14
Q

Holding a quote

A

1 hr. Hold time with a 5 min recall period

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15
Q

ERISA stands for

A

Employee Retirement Income Securities Act

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16
Q

RMD age

A
  1. Required to pay by April 1st of the following year
17
Q

Qualified Opinion

A

May be legal uncertainty. Purchasers should be informed.

18
Q

Unqualified Opinion

A

Issued unconditionally.

19
Q

Ex-Legal

A

No legal opinion whatsoever.

20
Q

GO Bonds

A

General Obligation Bonds - Bond payed by state or federal taxes. If state, then most likely paid by Ad Valorem tax.

21
Q

Revenue Bond

A

Backed by revenues from the facility the bond finances.

22
Q

Statutory Debt Limits

A

The amount of debt that a state or municipality can incur.

23
Q

Tax Rate Expressed in Mills

A

1 Mill = $1 per $1,000 OR $0.001

24
Q

Overlapping Debt

A

Coterminous Debt - Two different municipalities are tapping into the same tax payers wallet.

Series 7 Study (2 decks)

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