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FINRA SIE Ch. 7 Practice Questions with Correct Answers $9.99   Add to cart
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FINRA SIE Ch. 7 Practice Questions with Correct Answers
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FINRA SIE Ch. 7 Practice Questions with Correct Answers Which investment company does NOT charge a management fee? - Answer️️ -A unit investment trust Shares of a closed-end fund are available on the NYSE at $21.50 per share. The customer will pay: - Answer️️ -$21.50 + a commission Al...

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  • September 25, 2024
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  • 2024/2025
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

FINRA SIE Ch. 7 Practice Questions
with Correct Answers


Which investment company does NOT charge a management fee? - Answer✔️✔️-A unit

investment trust

Shares of a closed-end fund are available on the NYSE at $21.50 per share. The

customer will pay: - Answer✔️✔️-$21.50 + a commission

All of the following statements are TRUE about closed-end investment companies,

EXCEPT that the: - Answer✔️✔️-Shares may not sell below the current net asset value

Which of the following stipulations is NOT included in a letter of intent? - Answer✔️✔️-

The fund may stop redemptions during the duration of the letter of intent.

Which of the following is a characteristic of closed-end funds? - Answer✔️✔️-Closed-end

fund shares are bought and sold on an exchange

The day-to-day business activities of a unit investment trust (UIT) are the responsibility

of the: - Answer✔️✔️-Trustee

All of the following are likely to be found in the portfolio of a money-market fund,

EXCEPT: - Answer✔️✔️-Common stock

Which of the following funds is the LEAST likely to provide income? - Answer✔️✔️-A

sector fund

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, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Who keeps track of the shareholders of a mutual fund? - Answer✔️✔️-The transfer agent

An individual who is considering the purchase of closed-end fund shares would pay: -

Answer✔️✔️-A market price as determined by the supply and demand for the shares

A "breakpoint sale" is best defined as: - Answer✔️✔️-The sale of investment company

shares in dollar amounts just below the point at which the sales charge is reduced on

quantity transactions

According to current regulations, if a client redeems his mutual fund shares, the fund

company must send the payment within: - Answer✔️✔️-7 days

The purchase price of a no-load fund is determined by: - Answer✔️✔️-The net asset

value as computed at the end of the business day

An investment company that diversifies its portfolio with stocks, bonds, and money

market instruments, but will always hold some of each, is called: - Answer✔️✔️-Balanced

fund

Which of the following is considered an investment company under the Investment

Company Act of 1940 - Answer✔️✔️-A Unit Investment Trust (UIT) company

Which of the following is a benefit of investing in mutual funds? - Answer✔️✔️-

Professional management of investments

An investor in a mutual fund: - Answer✔️✔️-Owns shares which represent an interest in

the portfolio




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