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Series 7 > SIE FINAL review > Flashcards

SIE FINAL review Flashcards

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Series 7 Top-off Exam flashcards
1
Q

callable preferred

A

the company buys buck from investors when interest rates go down

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2
Q

convertible preferred

A

investor converts shares to fixed number of common shares

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3
Q

adjustable rate preferred

A

usually tied to rates such as treasury bills and money market rates

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4
Q

restricted non insider

A

6 month

no volume restrictions

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5
Q

restricted insider

A

6 month

volume restrictions

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6
Q

control stock held by insider

A

no hold

volume always applies

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7
Q

american depository receipts

A

created when common shares are purchased in the forign country. Shares are purchased in us dollars. subject to withholding tax in home country
pay dividends in us dollars

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8
Q

bond prices have what relationship with interest rates

A

inverse

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9
Q

call feature

A

issuer to call in bond when interest rates are falling .

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10
Q

put feature

A

always investor to put back bond when interest rates are rising

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11
Q

convertible feature

A

allows investor to convert the bond into shares of common stock

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12
Q

Treasury bills

A

issued with maturities of 4,13,26,52
pay NO interest
issued at discount and redeemed at par

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13
Q

Treasury notes

A

2-10 years
semiannual interest
stated par value and mature at par value

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14
Q

Treasury bonds

A

10-30 years
semiannual interest
stated par value and mature at par value

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15
Q

Treasury reciepts

A

BDs buy treasury securites and place them in a trust at a bank and sell separate receipts against the principal and coupon payments

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16
Q

treasury stripes are or are not backed in full by the us gov

A

they are

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17
Q

government national mortgage assocation are the only

A

agency securities backed by the full faith and credit of the Federal government

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18
Q

debentures

A

debt obligation of the corporation backed only by its word and general creditworthiness.

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19
Q

guarenteed bonds

A

backed by a company other than the issuing corporation such as a part company.

these are unsecured even though they say guarenteed

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20
Q

GO bonds

A

for capital improvments that benefit the entire community.

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21
Q

some municipal issues are taxable like

A

build america bonds

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22
Q

negotiable certificate of deposit

A

some can be traded in secondary market known as negotiable cds. no physcial asset backed, only by full faith and credit.

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23
Q

bankers acceptance

A

short term time draft with a specified payment date drawn on bank usually between 1-270 days

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24
Q

comerical paper maturity rainge

A

also 1-270 days

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25
Q

repurchase agreement

A

bank sells some securities and buys bank later at higher price

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26
Q

reverse repo

A

dealer BUYS securities and sells them back later at higher price

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27
Q

closed end companies may issue

A

common, preferred, and debt securities.

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28
Q

open end companies issue

A

only common stock

29
Q

mutual funds are ____

A

redeemable securities

30
Q

class c shares for investors with _____time horizons

A

short

31
Q

tax deductions for

A

mortgage expense and depreciation allowances

32
Q

tax credits for

A

government assisted housing

33
Q

hedge funds are known as

A

private investment companies

34
Q

exchange traded notes

A

senior unsecured debt securities issued bt a bank or financial institution.

35
Q

gtc automatically cancled if unexecuted by

A

last business day of april or october

36
Q

fill or kill executed

A

immediately

37
Q

all or none order executed

A

not immediately

38
Q

agent=

A

broker=commission

39
Q

principal=

A

dealer=markup or markdown

40
Q

regular way=

A

t+2

41
Q

declaration date record and payment deteremined by

ex dividend determined by

A

BOD

Finra

42
Q

to open margin account you need

A

credit agreement
hypothitication

no loan consent

43
Q

cordavel contributions up to

contributions can or cannot be limited for high income tax payers

A

2000 per year

can

44
Q

six year records

A

blotters
ledgers
records

45
Q

3 year records

A

u4 u5 ads
trial balances
cistomer confirmations

46
Q

liftime records

A

minute bookds

stock certificates

47
Q

customer complaints held for

A

4 years

48
Q

sipc coverage

A

no more than 500,000 per separate customer, sipc coverage only 250,000 in cash

49
Q

FDIC

A

insures deposits

50
Q

accredited investor

A

has 200,000 or 300,000 joint annual

51
Q

carrying firm

A

(clearing firm) carries customer accounts and accepts funds and securities from customers

52
Q

fully disclosed firm

A

also known as introducing firm introduces customers to a clearing firm

53
Q

a introducing firm recieves customer checks but

A

they must be made out to clearing firm

54
Q

fed funds rate

A

rate that comerical banks borrow from each other

55
Q

discount rate

A

rate that the federal government loans to member banks

56
Q

leading indicators act as
coincident
lagging

A

predictors
confirm where it is
confirmation for new trend

57
Q

keyesian theory

A

beleives government involvement is good

58
Q

primary offering

A

proceeds go to the issuing corporation

59
Q

secondary offering

A

all or more stockholders in a corporation are selling all or a major portion of their holdings to the public .

60
Q

coordination

A

issuer files with state and sec at same time

61
Q

qualification

A

must be anything state requires

62
Q

notice filing

A

potential fee

63
Q

firm element

A

requires members to prepare an annual training

64
Q

regulatory element

A

computer based training within 120 days of persons second registration and then every 3 years therafter.

65
Q

private business transactions also known as

A

selling away

66
Q

As an investment vehicle, and regarding the tax consequences, REITS are organized as

A

trusts

67
Q

The Advisers Act of 1940 specifically deters gaining political favor via contributions made to candidates, officials, or political parties. As such, if a political contribution is made to any of these entities then under the Act, the firm may NOT provide advisory services to any government these individuals or parties represent for how long?

A

2 years

68
Q

warrants or rights can be purchased on margin

A

warrents can and rights may not

69
Q

Which of the following is a debt instrument that pays no periodic interest?

A

treasury strip

Series 7 (27 decks)

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