NO.28 Which of the following statements is true of the writer of a listed equity call option?

NO.29 Offering 403(b) tax-sheltered annuity accounts to which of the following groups is permissible?

NO.30 A customer buys 100 ABC at $50 and at the same time sells an ABC April 50 call at $8. At expiration, ABC must be at what market price for the customer to break even?

NO.31 A customer wants to establish an account for the benefit of his grandchildren. He states to his registered representative that he wants to be able to control the distribution of the assets and direct how the account will be invested. Which of the following account types is most appropriate?

NO.32 Which of the following products is the most appropriate class of investments for a customer looking for income and capital gains?

NO.33 Which of the following responses describes a common feature of a hedge fund?

NO.34 Assuming yields are held constant, which of the following statements describes what will occur as a discount bond reaches maturity?

NO.35 Which of the following terms describes failure to honor a firm quote?

NO.36 Which of the following statements best describes the permissibility of a borrowing arrangement between a registered representative (RR) and a customer who is also the RR’s grandfather?

NO.37 A summary prospectus for a mutual fund must contain which of the following information?

NO.38 An associated person at a member firm receives a complaint from a customer involving allegations of forgery.
Once the complaint is received, which of the following actions is required?

NO.39 When exercised, an option written on which of the following items must be settled in cash?

NO.40 When is a newly registered person subject to the Continuing Education Regulatory Element requirement?

NO.41 A city has appointed Broker-dealer XYZ to act as lead underwriter for its upcoming issuance of municipal bonds. This is an example of which of the following types of offering?

NO.42 Which of the following responses describes a warrant?

NO.43 Which of the following statements is true regarding the SEC’s characterization of a registration statement that has just been made effective?

NO.44 Class A and Class C shares of a mutual fund differ in which of the following ways?

NO.45 An investor wants to purchase mutual fund shares, but she is concerned about the tax efficiency of the fund.
Which of the following disclosures required under industry regulations will help the investor make an informed decision?

NO.46 Which of the following is a reportable obligation with respect to an individual’s Form U4?

NO.47 Which of the following statements best describes a characteristic of 529 savings plan accounts?

NO.48 A registered representative wants to open an account for himself at a different financial institution. Under FINRA rules, which of the following accounts requires prior written consent from his employing broker- dealer?

NO.49 A registered representative (RR) owns 500 shares of a thinly traded security. A customer of the firm calls the RR to place a sell order for 10,000 shares of the same security. The RR sells his shares before entering the customer’s order to sell. Which of the following activities has the RR just engaged in?

NO.50 Under SEC Regulation D, which of the following parties is considered an accredited investor?