試験科目：General Securities Representative Examination (GS)
問題と解答：全400問 Series7 テスト模擬問題集
NO.1 The definition of debentures is:
A. securities backed by the general credit of the issuers but no specific collateral
B. collateralized securities
C. a worthless security
D. a loan secured by real estate
Series7 通信 Series7 合格率
Explanation: securities backed by the general credit of the issuers but no specific collateral. And in
case of some issuers, that may be fairly worthless.
NO.2 When does a call option provide the most value to its holder?
A. when the underlying stock is extremely volatile
B. when the underlying stock price is rising
C. in the month prior to its expiration
D. when there is a large open interest in that class of option
Explanation: when the underlying stock price is rising. That's why the holder of this option wants to
have a right to "call" the stock.
NO.3 In June, Bubba bought 100 shares of XYZ at $35. In November, he bought a listed put in XYZ
with a $35
strike price and a July expiration for a premium of $600. In April, Bubba exercises the put option and
his stock for delivery. What is his resulting tax consequence?
A. cannot be determined without knowing the market price of XYZ upon exercise
B. a $600 capital loss
C. neither profit nor loss
D. this is a wash sale and cannot be included in the investor's tax calculations
Explanation: a $600 loss. The strike price and Bubba's purchase price are the same. He has a $600
on the option for the premium he paid.
NO.4 Bubba's pledge to purchase a specified dollar amount of a mutual fund within a specified period
of time is called:
A. a letter of intent
B. an investment letter
C. a promissory note
D. a stock power
Explanation: a letter of intent. This accurately describes the definition of a letter of intent.