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Guide for Series-6: Finra Investment Company and Variable Contracts Products Representative

Quiz Series-6: Finra Investment Company and Variable Contracts Products Representative

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/ 10

Quiz

1/10
Which of the following statements about the over-the-counter market is true?
Select the answer
1 correct answer
A.
Only penny stocks are traded in the over-the-counter market.
B.
Trades in the over-the-counter market are conducted via the auction process.
C.
Only bonds and other debt instruments are traded in the over-the-counter market.
D.
Stocks that are listed on exchange floors are also traded in the over-the-counter market.

Quiz

2/10
Which of the following is not an auction market?
Select the answer
1 correct answer
A.
NASDAQ
B.
NYSE
C.
CHX
D.
All of the above are auction markets

Quiz

3/10
The entity that serves as the auctioneer for trades conducted on an organized exchange floor is
known as a:
Select the answer
1 correct answer
A.
registered trader.
B.
specialist.
C.
floor broker.
D.
commission broker.

Quiz

4/10
Which of the following statements about specialists is false?
Select the answer
1 correct answer
A.
Specialists are market makers in assigned stocks and, as such, can profit from these investments.
B.
Specialists are required to maintain a fair and orderly market in their assigned stocks, meaning that they must buy if there is an excess of sell orders and sell out of their own portfolios if there is an excess of buy orders.
C.
Specialists are employees of the exchange on which they oversee trades.
D.
In addition to acting as market makers, specialists also act as agents and execute limit orders placed by commission brokers for their clients if the specified price is reached.

Quiz

5/10
NASDAQ market makers provide investors with assurance that:
Select the answer
1 correct answer
A.
there is a market for the listed security.
B.
the investor will be able to buy or sell the security at a price he desires.
C.
the investor will be investing in a high quality investment with relatively low risk.
D.
NASDAQ market makers provide investors with no assurance whatsoever. It is “buyer beware.”

Quiz

6/10
SuperDOT is:
Select the answer
1 correct answer
A.
an electronic communication network (ECN).
B.
an electronic system whereby trades are executed on NASDAQ.
C.
an electronic system used to place orders on the NYSE.
D.
both A and C.

Quiz

7/10
GoForBroke Investments has registered with the SEC to be a market maker in certain NASDAQ-listed
securities. In order to be able to enter bid and ask quotes for the securities in which it is going to
make a market, GoForBroke must subscribe to which level of NASDAQ?
Select the answer
1 correct answer
A.
Level I
B.
Level II
C.
Level III
D.
Level IV

Quiz

8/10
Which of the following is not a characteristic of all auction stock exchanges in the U.S.?
Select the answer
1 correct answer
A.
There is a central marketplace.
B.
Stocks that are traded on the exchange must meet certain listing requirements, determined by the exchange.
C.
In order to conduct a trade on the exchange, a broker must be a member of the exchange or hold a license to trade on the exchange.
D.
If a stock is listed on one of these exchanges, it is not permitted to be listed on any other exchange.

Quiz

9/10
Which of the following is an example of a primary market transaction?
Select the answer
1 correct answer
A.
Exco Resources (XCO) sells a new issue of 7.5%, 8-year notes.
B.
Ms. Talker calls her broker and places a market order to sell shares of AT&T (T) on the NYSE.
C.
Mr. Safe purchases a Treasury bill with two weeks remaining to maturity.
D.
Mr. Green places an order to buy shares of Sunvalley Solar, Inc. (SSOL), a stock selling on the OTC Bulletin Board.

Quiz

10/10
NASDAQ is:
Select the answer
1 correct answer
A.
an acronym for Norway’s major stock exchange.
B.
the government organization that insures accounts at U.S. brokerage firms.
C.
a computerized system that links together the U.S. regional exchanges.
D.
a computerized quotation system used in the over-the-counter market.
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  • Quiz name:Series-6: Finra Investment Company and Variable Contracts Products Representative
  • Total number of questions:325
  • Number of questions for the test:50
  • Pass score:80%

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