Exam Name: General Securities Representative Examination (GS)
Certification Provider: FINRA
Corresponding Certification: FINRA Certification
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FINRA Series7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Provides Customers with Information about Investments, Makes Suitable Recommendations, Transfers Assets and Maintains Appropriate Records | 73% | - Options and derivative products - Investment companies, ETFs, and variable annuities - Debt securities and government obligations - Equity securities - Direct participation programs - Recordkeeping and regulatory reporting - Municipal securities - Margin accounts and taxation |
| Topic 2: Seeks Business for the Broker-Dealer from Customers and Potential Customers | 7% | - Standards for advertising and public communications - Customer communication and solicitation rules - Product-specific disclosures and regulatory requirements |
| Topic 3: Opens Accounts after Obtaining and Evaluating Customers’ Financial Profile and Investment Objectives | 9% | - Financial profile, risk tolerance, and investment objectives - Suitability rules and regulatory compliance - Account types and documentation requirements |
| Topic 4: Obtains and Verifies Customers’ Purchase and Sales Instructions; Processes, Completes and Confirms Transactions | 11% | - Order types and execution procedures - Trade settlement and confirmation rules - Regulatory requirements for transaction processing |
FINRA General Securities Representative Examination (GS) Sample Questions:
Question 1
What expression is used to describe the application of income and revenues derived from the operation of
a facility financed from proceeds of a revenue bond?
A. revenue funding
B. disbursement of priorities
C. debt service
D. flow of funds
Question 2
Which of the following does not decrease basis?
A. income from extraordinary sources
B. losses
C. depletion of real property
D. cash or property paid out
Question 3
A mutual fund characterized by a modest sales charge and an investment in a fixed portfolio of municipal
securities is a:
A. face-amount certificate company
B. open-end or closed-end company
C. management company
D. unit investment trust company
Question 4
The minimum denomination for a US treasury bond is:
A. $100
B. $10,000
C. $100,000
D. $1,000
Question 5
In a securities underwriting a participating firm is said to be liable severally but not jointly. What is this type
of underwriting is called?
A. an Eastern account
B. an all or none offering
C. a best efforts offering
D. a Western account
Solutions:
| Question 1 Answer: D | Question 2 Answer: A | Question 3 Answer: D | Question 4 Answer: D | Question 5 Answer: D |
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