Exam Code : FINRA
Exam Name : FINRA Administered Qualification Examination
Vendor Name :
"Financial"
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FINRA Administered Qualification Examination
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D. Investment performance being inconsistent with the expectations provided by the investment advisor
What occurs when parties engage in matching purchases?
A significant increase in outstanding shares
An artificial increase in the market value of a security
Small shareholders realize capital losses
The parties pay a lower commission
Under what circumstances may a registered agent represent multiple registered broker-dealers?
With written permission from the broker-dealers
When the broker-dealers are affiliated with each other
With written permission from the SEC
With written permission from FINRA
Which is not part of the criteria in the Investment Company Act of 1940 requirement for an investment fund to be considered a mutual fund?
A minimum of 100 investors
A minimum of $100,000 in seed money
Must have sponsors, a board of directors, investment advisors, transfer agents and custodians
Must maintain a diversified portfolio that follows the 75-5-10 rule
What must happen before a mutual fund can assess 12B-1 fees to customers?
The fees must be approved by the SEC
A majority vote from the board of directors
A majority vote from the Board of Directors and the shareholders
Fees must be stated in the fund prospectus
Which type of investment sells bonds to investors as equity stakes?
Unit investment trust
Contractual plan
Face amount certificate
Front-end load contractual plan
Money market securities must mature in how many months?
6
12
13
24
Which type of settlement option for a variable annuity allows the annuitant to make withdrawals in any amount he chooses?
Unit refund life annuity
Joint and last survivor
Random withdrawal
Life with period certain