{"id":1636,"date":"2018-11-22T01:49:03","date_gmt":"2018-11-22T01:49:03","guid":{"rendered":"https:\/\/dumps.dumpsbase.com\/?p=1636"},"modified":"2019-03-04T08:47:31","modified_gmt":"2019-03-04T08:47:31","slug":"general-securities-representative-exam-series-7-questions","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/general-securities-representative-exam-series-7-questions.html","title":{"rendered":"General Securities Representative Exam Series 7 Questions"},"content":{"rendered":"<p>General Securities Representative Qualification Examination (GS), Series 7 exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities. It is not the same as <a href=\"https:\/\/dumps.dumpsbase.com\/finra-exam-series-6-exam-dumps.html\"><strong>Series 6<\/strong><\/a>, which allows a representative to sell only a limited set of investment products, whereas the Series 7 license allows a representative to sell a wider variety of securities.<\/p>\n<p>Get <span style=\"color: #800000;\"><em><strong>General Securities Representative Exam Series 7 Questions<\/strong><\/em><\/span> to prepare for Series 7 exam successfully, as the following are the free demo questions to check real Series 7 exam.<\/p>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam655\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-655\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-655\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-16399'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Which of the following preferred issues is likely to fluctuate most in value?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='16399' \/><input type='hidden' id='answerType16399' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16399[]' id='answer-id-67913' class='answer   answerof-16399 ' value='67913'   \/><label for='answer-id-67913' id='answer-label-67913' class=' answer'><span>cumulative preferred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16399[]' id='answer-id-67914' class='answer   answerof-16399 ' value='67914'   \/><label for='answer-id-67914' id='answer-label-67914' class=' answer'><span>callable preferred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16399[]' id='answer-id-67915' class='answer   answerof-16399 ' value='67915'   \/><label for='answer-id-67915' id='answer-label-67915' class=' answer'><span>convertible preferred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16399[]' id='answer-id-67916' class='answer   answerof-16399 ' value='67916'   \/><label for='answer-id-67916' id='answer-label-67916' class=' answer'><span>broker preferred<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-16400'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>Which of the following rights does an ADR holder not have?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='16400' \/><input type='hidden' id='answerType16400' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16400[]' id='answer-id-67917' class='answer   answerof-16400 ' value='67917'   \/><label for='answer-id-67917' id='answer-label-67917' class=' answer'><span>preemptive rights<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16400[]' id='answer-id-67918' class='answer   answerof-16400 ' value='67918'   \/><label for='answer-id-67918' id='answer-label-67918' class=' answer'><span>the right to vote for your mother-in-law as a board member<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16400[]' id='answer-id-67919' class='answer   answerof-16400 ' value='67919'   \/><label for='answer-id-67919' id='answer-label-67919' class=' answer'><span>the right to transfer ownership<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16400[]' id='answer-id-67920' class='answer   answerof-16400 ' value='67920'   \/><label for='answer-id-67920' id='answer-label-67920' class=' answer'><span>the right to see financial statements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-16401'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>A corporation makes a rights offering to raise $10 million of new capital by issuing one million shares of common stock. If it already has six million shares outstanding at the time of the offering. <br \/>\r<br>How many rights will the corporation distribute to its shareholders?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='16401' \/><input type='hidden' id='answerType16401' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16401[]' id='answer-id-67921' class='answer   answerof-16401 ' value='67921'   \/><label for='answer-id-67921' id='answer-label-67921' class=' answer'><span>one million<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16401[]' id='answer-id-67922' class='answer   answerof-16401 ' value='67922'   \/><label for='answer-id-67922' id='answer-label-67922' class=' answer'><span>six million<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16401[]' id='answer-id-67923' class='answer   answerof-16401 ' value='67923'   \/><label for='answer-id-67923' id='answer-label-67923' class=' answer'><span>ten million<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16401[]' id='answer-id-67924' class='answer   answerof-16401 ' value='67924'   \/><label for='answer-id-67924' id='answer-label-67924' class=' answer'><span>sixteen million<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-16402'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>A corporation makes a rights offering to raise $10 million of new capital by issuing one million shares of common stock. If it already has six million shares outstanding at the time of the offering. <br \/>\r<br>What is the subscription price per share?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='16402' \/><input type='hidden' id='answerType16402' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16402[]' id='answer-id-67925' class='answer   answerof-16402 ' value='67925'   \/><label for='answer-id-67925' id='answer-label-67925' class=' answer'><span>$4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16402[]' id='answer-id-67926' class='answer   answerof-16402 ' value='67926'   \/><label for='answer-id-67926' id='answer-label-67926' class=' answer'><span>$6<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16402[]' id='answer-id-67927' class='answer   answerof-16402 ' value='67927'   \/><label for='answer-id-67927' id='answer-label-67927' class=' answer'><span>$7<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16402[]' id='answer-id-67928' class='answer   answerof-16402 ' value='67928'   \/><label for='answer-id-67928' id='answer-label-67928' class=' answer'><span>$10<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-16403'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>A corporation makes a rights offering to raise $10 million of new capital by issuing one million shares of common stock. If it already has six million shares outstanding at the time of the offering. <br \/>\r<br>What subscription ratio is the corporation establishing for each new share?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='16403' \/><input type='hidden' id='answerType16403' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16403[]' id='answer-id-67929' class='answer   answerof-16403 ' value='67929'   \/><label for='answer-id-67929' id='answer-label-67929' class=' answer'><span>6 rights per share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16403[]' id='answer-id-67930' class='answer   answerof-16403 ' value='67930'   \/><label for='answer-id-67930' id='answer-label-67930' class=' answer'><span>10 rights per share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16403[]' id='answer-id-67931' class='answer   answerof-16403 ' value='67931'   \/><label for='answer-id-67931' id='answer-label-67931' class=' answer'><span>6 million rights per share<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16403[]' id='answer-id-67932' class='answer   answerof-16403 ' value='67932'   \/><label for='answer-id-67932' id='answer-label-67932' class=' answer'><span>10 million rights per share<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-16404'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Bubba owns stock with cumulative voting rights. There are five vacancies on a board and he owns 100 shares of stock. Bubba is entitled to cast the following votes:<\/div><input type='hidden' name='question_id[]' id='qID_6' value='16404' \/><input type='hidden' id='answerType16404' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16404[]' id='answer-id-67933' class='answer   answerof-16404 ' value='67933'   \/><label for='answer-id-67933' id='answer-label-67933' class=' answer'><span>a total of 100 votes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16404[]' id='answer-id-67934' class='answer   answerof-16404 ' value='67934'   \/><label for='answer-id-67934' id='answer-label-67934' class=' answer'><span>a total of 100 votes per<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16404[]' id='answer-id-67935' class='answer   answerof-16404 ' value='67935'   \/><label for='answer-id-67935' id='answer-label-67935' class=' answer'><span>a total of 500 votes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16404[]' id='answer-id-67936' class='answer   answerof-16404 ' value='67936'   \/><label for='answer-id-67936' id='answer-label-67936' class=' answer'><span>you are not allowed to vote<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-16405'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>The definition of debentures is:<\/div><input type='hidden' name='question_id[]' id='qID_7' value='16405' \/><input type='hidden' id='answerType16405' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16405[]' id='answer-id-67937' class='answer   answerof-16405 ' value='67937'   \/><label for='answer-id-67937' id='answer-label-67937' class=' answer'><span>a loan secured by real estate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16405[]' id='answer-id-67938' class='answer   answerof-16405 ' value='67938'   \/><label for='answer-id-67938' id='answer-label-67938' class=' answer'><span>collateralized securities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16405[]' id='answer-id-67939' class='answer   answerof-16405 ' value='67939'   \/><label for='answer-id-67939' id='answer-label-67939' class=' answer'><span>a worthless security<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16405[]' id='answer-id-67940' class='answer   answerof-16405 ' value='67940'   \/><label for='answer-id-67940' id='answer-label-67940' class=' answer'><span>securities backed by the general credit of the issuers but no specific collateral<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-16406'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Convertible bonds have all of the following features except:<\/div><input type='hidden' name='question_id[]' id='qID_8' value='16406' \/><input type='hidden' id='answerType16406' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16406[]' id='answer-id-67941' class='answer   answerof-16406 ' value='67941'   \/><label for='answer-id-67941' id='answer-label-67941' class=' answer'><span>an ability to protect a short position on the stock into which they are convertible<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16406[]' id='answer-id-67942' class='answer   answerof-16406 ' value='67942'   \/><label for='answer-id-67942' id='answer-label-67942' class=' answer'><span>permissibility for use as collateral<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16406[]' id='answer-id-67943' class='answer   answerof-16406 ' value='67943'   \/><label for='answer-id-67943' id='answer-label-67943' class=' answer'><span>a normally higher yield than non-convertible bonds of the same issuer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16406[]' id='answer-id-67944' class='answer   answerof-16406 ' value='67944'   \/><label for='answer-id-67944' id='answer-label-67944' class=' answer'><span>fluctuations influenced by changes in the price of the underlying common stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-16407'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Although a corporation has no earnings in a particular year, it is obligated to pay interest on all its outstanding debt except the following:<\/div><input type='hidden' name='question_id[]' id='qID_9' value='16407' \/><input type='hidden' id='answerType16407' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16407[]' id='answer-id-67945' class='answer   answerof-16407 ' value='67945'   \/><label for='answer-id-67945' id='answer-label-67945' class=' answer'><span>convertible subordinated debentures<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16407[]' id='answer-id-67946' class='answer   answerof-16407 ' value='67946'   \/><label for='answer-id-67946' id='answer-label-67946' class=' answer'><span>collateral trust bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16407[]' id='answer-id-67947' class='answer   answerof-16407 ' value='67947'   \/><label for='answer-id-67947' id='answer-label-67947' class=' answer'><span>adjustment bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16407[]' id='answer-id-67948' class='answer   answerof-16407 ' value='67948'   \/><label for='answer-id-67948' id='answer-label-67948' class=' answer'><span>equipment trust certificates<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-16408'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>Interest rates rise from 5.10% to 5.30%. For a prospective buyer of five $1,000 bonds, what is the increase in interest payments as a result of the rise?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='16408' \/><input type='hidden' id='answerType16408' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16408[]' id='answer-id-67949' class='answer   answerof-16408 ' value='67949'   \/><label for='answer-id-67949' id='answer-label-67949' class=' answer'><span>$20<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16408[]' id='answer-id-67950' class='answer   answerof-16408 ' value='67950'   \/><label for='answer-id-67950' id='answer-label-67950' class=' answer'><span>$100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16408[]' id='answer-id-67951' class='answer   answerof-16408 ' value='67951'   \/><label for='answer-id-67951' id='answer-label-67951' class=' answer'><span>$2<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16408[]' id='answer-id-67952' class='answer   answerof-16408 ' value='67952'   \/><label for='answer-id-67952' id='answer-label-67952' class=' answer'><span>$10<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-16409'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Common stocks for which of the following industries are most likely to decline in value when interest rates rise?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='16409' \/><input type='hidden' id='answerType16409' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16409[]' id='answer-id-67953' class='answer   answerof-16409 ' value='67953'   \/><label for='answer-id-67953' id='answer-label-67953' class=' answer'><span>automobile manufacturers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16409[]' id='answer-id-67954' class='answer   answerof-16409 ' value='67954'   \/><label for='answer-id-67954' id='answer-label-67954' class=' answer'><span>airlines<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16409[]' id='answer-id-67955' class='answer   answerof-16409 ' value='67955'   \/><label for='answer-id-67955' id='answer-label-67955' class=' answer'><span>stock brokers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16409[]' id='answer-id-67956' class='answer   answerof-16409 ' value='67956'   \/><label for='answer-id-67956' id='answer-label-67956' class=' answer'><span>public utility companies<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-16410'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>Convertible preferred stock has all of the following characteristics except:<\/div><input type='hidden' name='question_id[]' id='qID_12' value='16410' \/><input type='hidden' id='answerType16410' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16410[]' id='answer-id-67957' class='answer   answerof-16410 ' value='67957'   \/><label for='answer-id-67957' id='answer-label-67957' class=' answer'><span>a lower dividend rate than non-convertible preferred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16410[]' id='answer-id-67958' class='answer   answerof-16410 ' value='67958'   \/><label for='answer-id-67958' id='answer-label-67958' class=' answer'><span>a dilution of earnings if converted into common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16410[]' id='answer-id-67959' class='answer   answerof-16410 ' value='67959'   \/><label for='answer-id-67959' id='answer-label-67959' class=' answer'><span>a requirement for shareholders to always accept the call price when called<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16410[]' id='answer-id-67960' class='answer   answerof-16410 ' value='67960'   \/><label for='answer-id-67960' id='answer-label-67960' class=' answer'><span>required dividend payments to shareholders before any dividends are paid to holders of common stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-16411'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Bubba buys a 5% bond that matures in 15 years with a 5.10 basis. How much did he pay for the bond?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='16411' \/><input type='hidden' id='answerType16411' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16411[]' id='answer-id-67961' class='answer   answerof-16411 ' value='67961'   \/><label for='answer-id-67961' id='answer-label-67961' class=' answer'><span>5.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16411[]' id='answer-id-67962' class='answer   answerof-16411 ' value='67962'   \/><label for='answer-id-67962' id='answer-label-67962' class=' answer'><span>98.96<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16411[]' id='answer-id-67963' class='answer   answerof-16411 ' value='67963'   \/><label for='answer-id-67963' id='answer-label-67963' class=' answer'><span>100.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16411[]' id='answer-id-67964' class='answer   answerof-16411 ' value='67964'   \/><label for='answer-id-67964' id='answer-label-67964' class=' answer'><span>105.10<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-16412'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Bonds are most often quoted as a percentage of:<\/div><input type='hidden' name='question_id[]' id='qID_14' value='16412' \/><input type='hidden' id='answerType16412' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16412[]' id='answer-id-67965' class='answer   answerof-16412 ' value='67965'   \/><label for='answer-id-67965' id='answer-label-67965' class=' answer'><span>face value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16412[]' id='answer-id-67966' class='answer   answerof-16412 ' value='67966'   \/><label for='answer-id-67966' id='answer-label-67966' class=' answer'><span>book value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16412[]' id='answer-id-67967' class='answer   answerof-16412 ' value='67967'   \/><label for='answer-id-67967' id='answer-label-67967' class=' answer'><span>market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16412[]' id='answer-id-67968' class='answer   answerof-16412 ' value='67968'   \/><label for='answer-id-67968' id='answer-label-67968' class=' answer'><span>whatever value the broker says<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-16413'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>Which of the following is a right for shareholders of common stock?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='16413' \/><input type='hidden' id='answerType16413' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16413[]' id='answer-id-67969' class='answer   answerof-16413 ' value='67969'   \/><label for='answer-id-67969' id='answer-label-67969' class=' answer'><span>the right to have the stock price increase<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16413[]' id='answer-id-67970' class='answer   answerof-16413 ' value='67970'   \/><label for='answer-id-67970' id='answer-label-67970' class=' answer'><span>the right to vote about important matters of the company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16413[]' id='answer-id-67971' class='answer   answerof-16413 ' value='67971'   \/><label for='answer-id-67971' id='answer-label-67971' class=' answer'><span>the right to dividends<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16413[]' id='answer-id-67972' class='answer   answerof-16413 ' value='67972'   \/><label for='answer-id-67972' id='answer-label-67972' class=' answer'><span>both B and C<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-16414'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Who owns a corporation?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='16414' \/><input type='hidden' id='answerType16414' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16414[]' id='answer-id-67973' class='answer   answerof-16414 ' value='67973'   \/><label for='answer-id-67973' id='answer-label-67973' class=' answer'><span>the owners of debentures<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16414[]' id='answer-id-67974' class='answer   answerof-16414 ' value='67974'   \/><label for='answer-id-67974' id='answer-label-67974' class=' answer'><span>the holders of common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16414[]' id='answer-id-67975' class='answer   answerof-16414 ' value='67975'   \/><label for='answer-id-67975' id='answer-label-67975' class=' answer'><span>the holders of common stock and the holders of preferred stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16414[]' id='answer-id-67976' class='answer   answerof-16414 ' value='67976'   \/><label for='answer-id-67976' id='answer-label-67976' class=' answer'><span>the government<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-16415'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Which of the following is true of treasury stock?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='16415' \/><input type='hidden' id='answerType16415' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16415[]' id='answer-id-67977' class='answer   answerof-16415 ' value='67977'   \/><label for='answer-id-67977' id='answer-label-67977' class=' answer'><span>it has voting rights<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16415[]' id='answer-id-67978' class='answer   answerof-16415 ' value='67978'   \/><label for='answer-id-67978' id='answer-label-67978' class=' answer'><span>it is entitled to receive dividends<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16415[]' id='answer-id-67979' class='answer   answerof-16415 ' value='67979'   \/><label for='answer-id-67979' id='answer-label-67979' class=' answer'><span>it is stock that has not been issued<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16415[]' id='answer-id-67980' class='answer   answerof-16415 ' value='67980'   \/><label for='answer-id-67980' id='answer-label-67980' class=' answer'><span>it is stock that has been reacquired by the issuer<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-16416'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Bubba decides to buy equity securities. Which of the following statements is always true about what Bubba is buying?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='16416' \/><input type='hidden' id='answerType16416' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16416[]' id='answer-id-67981' class='answer   answerof-16416 ' value='67981'   \/><label for='answer-id-67981' id='answer-label-67981' class=' answer'><span>they are readily marketable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16416[]' id='answer-id-67982' class='answer   answerof-16416 ' value='67982'   \/><label for='answer-id-67982' id='answer-label-67982' class=' answer'><span>they have a fixed rate of return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16416[]' id='answer-id-67983' class='answer   answerof-16416 ' value='67983'   \/><label for='answer-id-67983' id='answer-label-67983' class=' answer'><span>they have a fixed maturity date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16416[]' id='answer-id-67984' class='answer   answerof-16416 ' value='67984'   \/><label for='answer-id-67984' id='answer-label-67984' class=' answer'><span>they are not secured by collateral<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-16417'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>Which of the following securities provides the longest term of option privilege?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='16417' \/><input type='hidden' id='answerType16417' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16417[]' id='answer-id-67985' class='answer   answerof-16417 ' value='67985'   \/><label for='answer-id-67985' id='answer-label-67985' class=' answer'><span>puts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16417[]' id='answer-id-67986' class='answer   answerof-16417 ' value='67986'   \/><label for='answer-id-67986' id='answer-label-67986' class=' answer'><span>calls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16417[]' id='answer-id-67987' class='answer   answerof-16417 ' value='67987'   \/><label for='answer-id-67987' id='answer-label-67987' class=' answer'><span>warrants<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16417[]' id='answer-id-67988' class='answer   answerof-16417 ' value='67988'   \/><label for='answer-id-67988' id='answer-label-67988' class=' answer'><span>rights<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-16418'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>A company may pay a declared dividend in which of the following ways:<\/div><input type='hidden' name='question_id[]' id='qID_20' value='16418' \/><input type='hidden' id='answerType16418' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16418[]' id='answer-id-67989' class='answer   answerof-16418 ' value='67989'   \/><label for='answer-id-67989' id='answer-label-67989' class=' answer'><span>with stock in a subsidiary company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16418[]' id='answer-id-67990' class='answer   answerof-16418 ' value='67990'   \/><label for='answer-id-67990' id='answer-label-67990' class=' answer'><span>with property<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16418[]' id='answer-id-67991' class='answer   answerof-16418 ' value='67991'   \/><label for='answer-id-67991' id='answer-label-67991' class=' answer'><span>with cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16418[]' id='answer-id-67992' class='answer   answerof-16418 ' value='67992'   \/><label for='answer-id-67992' id='answer-label-67992' class=' answer'><span>all of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-16419'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Bubba owns a subordinated debenture in a company that is liquidating. <br \/>\r<br>When will he get paid?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='16419' \/><input type='hidden' id='answerType16419' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16419[]' id='answer-id-67993' class='answer   answerof-16419 ' value='67993'   \/><label for='answer-id-67993' id='answer-label-67993' class=' answer'><span>after the company pays its outstanding bills, but before paying bank loans<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16419[]' id='answer-id-67994' class='answer   answerof-16419 ' value='67994'   \/><label for='answer-id-67994' id='answer-label-67994' class=' answer'><span>after the bills are paid and the bank is paid, but before the preferred shareholders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16419[]' id='answer-id-67995' class='answer   answerof-16419 ' value='67995'   \/><label for='answer-id-67995' id='answer-label-67995' class=' answer'><span>before the holders of secured debt<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16419[]' id='answer-id-67996' class='answer   answerof-16419 ' value='67996'   \/><label for='answer-id-67996' id='answer-label-67996' class=' answer'><span>after the shareholders of preferred stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-16420'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>When a corporation dissolves, who gets paid first?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='16420' \/><input type='hidden' id='answerType16420' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16420[]' id='answer-id-67997' class='answer   answerof-16420 ' value='67997'   \/><label for='answer-id-67997' id='answer-label-67997' class=' answer'><span>bank lenders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16420[]' id='answer-id-67998' class='answer   answerof-16420 ' value='67998'   \/><label for='answer-id-67998' id='answer-label-67998' class=' answer'><span>senior bond holders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16420[]' id='answer-id-67999' class='answer   answerof-16420 ' value='67999'   \/><label for='answer-id-67999' id='answer-label-67999' class=' answer'><span>the tax collector<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16420[]' id='answer-id-68000' class='answer   answerof-16420 ' value='68000'   \/><label for='answer-id-68000' id='answer-label-68000' class=' answer'><span>the lawyer<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-16421'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Bubba wants to buy a $4 convertible preferred with that has a $50 par value and is exchangeable for <br \/>\r<br>common stock at $47.50. If the preferred stock is trading at 52, what does Bubba calculate as the common stock price in order to be at parity with the preferred?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='16421' \/><input type='hidden' id='answerType16421' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16421[]' id='answer-id-68001' class='answer   answerof-16421 ' value='68001'   \/><label for='answer-id-68001' id='answer-label-68001' class=' answer'><span>47.50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16421[]' id='answer-id-68002' class='answer   answerof-16421 ' value='68002'   \/><label for='answer-id-68002' id='answer-label-68002' class=' answer'><span>52.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16421[]' id='answer-id-68003' class='answer   answerof-16421 ' value='68003'   \/><label for='answer-id-68003' id='answer-label-68003' class=' answer'><span>a little less than 49.38<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16421[]' id='answer-id-68004' class='answer   answerof-16421 ' value='68004'   \/><label for='answer-id-68004' id='answer-label-68004' class=' answer'><span>a little more than 54.50<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-16422'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Which of the following is an analyst most likely to classify as a defensive issue?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='16422' \/><input type='hidden' id='answerType16422' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16422[]' id='answer-id-68005' class='answer   answerof-16422 ' value='68005'   \/><label for='answer-id-68005' id='answer-label-68005' class=' answer'><span>the securities of a company that airplanes to the military<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16422[]' id='answer-id-68006' class='answer   answerof-16422 ' value='68006'   \/><label for='answer-id-68006' id='answer-label-68006' class=' answer'><span>a stock of a large company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16422[]' id='answer-id-68007' class='answer   answerof-16422 ' value='68007'   \/><label for='answer-id-68007' id='answer-label-68007' class=' answer'><span>the common stock of a utility company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16422[]' id='answer-id-68008' class='answer   answerof-16422 ' value='68008'   \/><label for='answer-id-68008' id='answer-label-68008' class=' answer'><span>a corporate bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-16423'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Which securities do not receive dividends?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='16423' \/><input type='hidden' id='answerType16423' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16423[]' id='answer-id-68009' class='answer   answerof-16423 ' value='68009'   \/><label for='answer-id-68009' id='answer-label-68009' class=' answer'><span>ADRs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16423[]' id='answer-id-68010' class='answer   answerof-16423 ' value='68010'   \/><label for='answer-id-68010' id='answer-label-68010' class=' answer'><span>warrants<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16423[]' id='answer-id-68011' class='answer   answerof-16423 ' value='68011'   \/><label for='answer-id-68011' id='answer-label-68011' class=' answer'><span>common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16423[]' id='answer-id-68012' class='answer   answerof-16423 ' value='68012'   \/><label for='answer-id-68012' id='answer-label-68012' class=' answer'><span>preferred stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-16424'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Bubba buys a bond issued at par with a 5% coupon that is convertible into common stock at $40. <br \/>\r<br>What conversion ratio does Bubba determine?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='16424' \/><input type='hidden' id='answerType16424' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16424[]' id='answer-id-68013' class='answer   answerof-16424 ' value='68013'   \/><label for='answer-id-68013' id='answer-label-68013' class=' answer'><span>40<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16424[]' id='answer-id-68014' class='answer   answerof-16424 ' value='68014'   \/><label for='answer-id-68014' id='answer-label-68014' class=' answer'><span>30<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16424[]' id='answer-id-68015' class='answer   answerof-16424 ' value='68015'   \/><label for='answer-id-68015' id='answer-label-68015' class=' answer'><span>25<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16424[]' id='answer-id-68016' class='answer   answerof-16424 ' value='68016'   \/><label for='answer-id-68016' id='answer-label-68016' class=' answer'><span>15<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-16425'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Bubba buys a bond issued at par with a 5% coupon that is convertible into common stock at $40. The bond increases in value by 20 points. <br \/>\r<br>What is the conversion parity of the stock?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='16425' \/><input type='hidden' id='answerType16425' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16425[]' id='answer-id-68017' class='answer   answerof-16425 ' value='68017'   \/><label for='answer-id-68017' id='answer-label-68017' class=' answer'><span>$25<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16425[]' id='answer-id-68018' class='answer   answerof-16425 ' value='68018'   \/><label for='answer-id-68018' id='answer-label-68018' class=' answer'><span>$40<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16425[]' id='answer-id-68019' class='answer   answerof-16425 ' value='68019'   \/><label for='answer-id-68019' id='answer-label-68019' class=' answer'><span>$48<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16425[]' id='answer-id-68020' class='answer   answerof-16425 ' value='68020'   \/><label for='answer-id-68020' id='answer-label-68020' class=' answer'><span>$50<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-16426'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>The most common type of bond issued by a well-established company is:<\/div><input type='hidden' name='question_id[]' id='qID_28' value='16426' \/><input type='hidden' id='answerType16426' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16426[]' id='answer-id-68021' class='answer   answerof-16426 ' value='68021'   \/><label for='answer-id-68021' id='answer-label-68021' class=' answer'><span>a debenture<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16426[]' id='answer-id-68022' class='answer   answerof-16426 ' value='68022'   \/><label for='answer-id-68022' id='answer-label-68022' class=' answer'><span>a senior secured note<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16426[]' id='answer-id-68023' class='answer   answerof-16426 ' value='68023'   \/><label for='answer-id-68023' id='answer-label-68023' class=' answer'><span>a convertible<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16426[]' id='answer-id-68024' class='answer   answerof-16426 ' value='68024'   \/><label for='answer-id-68024' id='answer-label-68024' class=' answer'><span>an open-end mortgage<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-16427'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>A corporate bond is quoted as having a net change in value of plus one point. <br \/>\r<br>By how much did the bond price increase?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='16427' \/><input type='hidden' id='answerType16427' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16427[]' id='answer-id-68025' class='answer   answerof-16427 ' value='68025'   \/><label for='answer-id-68025' id='answer-label-68025' class=' answer'><span>$1,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16427[]' id='answer-id-68026' class='answer   answerof-16427 ' value='68026'   \/><label for='answer-id-68026' id='answer-label-68026' class=' answer'><span>$100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16427[]' id='answer-id-68027' class='answer   answerof-16427 ' value='68027'   \/><label for='answer-id-68027' id='answer-label-68027' class=' answer'><span>$10<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16427[]' id='answer-id-68028' class='answer   answerof-16427 ' value='68028'   \/><label for='answer-id-68028' id='answer-label-68028' class=' answer'><span>$1<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-16428'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>A basis point is:<\/div><input type='hidden' name='question_id[]' id='qID_30' value='16428' \/><input type='hidden' id='answerType16428' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16428[]' id='answer-id-68029' class='answer   answerof-16428 ' value='68029'   \/><label for='answer-id-68029' id='answer-label-68029' class=' answer'><span>0.10%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16428[]' id='answer-id-68030' class='answer   answerof-16428 ' value='68030'   \/><label for='answer-id-68030' id='answer-label-68030' class=' answer'><span>0.01%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16428[]' id='answer-id-68031' class='answer   answerof-16428 ' value='68031'   \/><label for='answer-id-68031' id='answer-label-68031' class=' answer'><span>1.00%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16428[]' id='answer-id-68032' class='answer   answerof-16428 ' value='68032'   \/><label for='answer-id-68032' id='answer-label-68032' class=' answer'><span>0.001%<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-16429'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Bubba buys a $4 convertible preferred with a $50 par value that is exchangeable for common stock at 47.50. If the preferred stock is trading at 52 and the common stock at 51, Bubba determines that the <br \/>\r<br>preferred stock is:<\/div><input type='hidden' name='question_id[]' id='qID_31' value='16429' \/><input type='hidden' id='answerType16429' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16429[]' id='answer-id-68033' class='answer   answerof-16429 ' value='68033'   \/><label for='answer-id-68033' id='answer-label-68033' class=' answer'><span>overpriced and will quickly decline<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16429[]' id='answer-id-68034' class='answer   answerof-16429 ' value='68034'   \/><label for='answer-id-68034' id='answer-label-68034' class=' answer'><span>selling at a 4% premium over conversion value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16429[]' id='answer-id-68035' class='answer   answerof-16429 ' value='68035'   \/><label for='answer-id-68035' id='answer-label-68035' class=' answer'><span>underpriced and should rise quickly<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16429[]' id='answer-id-68036' class='answer   answerof-16429 ' value='68036'   \/><label for='answer-id-68036' id='answer-label-68036' class=' answer'><span>going to be called when the common stock price is $52<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-16430'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>A case of leverage is:<\/div><input type='hidden' name='question_id[]' id='qID_32' value='16430' \/><input type='hidden' id='answerType16430' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16430[]' id='answer-id-68037' class='answer   answerof-16430 ' value='68037'   \/><label for='answer-id-68037' id='answer-label-68037' class=' answer'><span>selling common stock short and buying warrants for the equivalent number of shares followed by \r\nsubscribing to the shares and covering the short<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16430[]' id='answer-id-68038' class='answer   answerof-16430 ' value='68038'   \/><label for='answer-id-68038' id='answer-label-68038' class=' answer'><span>borrowing at 6% and investing the funds at 10%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16430[]' id='answer-id-68039' class='answer   answerof-16430 ' value='68039'   \/><label for='answer-id-68039' id='answer-label-68039' class=' answer'><span>buying stock on the NYSE and later selling it the same day on the CBOE<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16430[]' id='answer-id-68040' class='answer   answerof-16430 ' value='68040'   \/><label for='answer-id-68040' id='answer-label-68040' class=' answer'><span>redeeming a convertible bond before maturity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-16431'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>Bubba holds 200 shares of common stock in a utility company and receives rights to subscribe to an <br \/>\r<br>additional 100 shares at $20. The utility company is raising $40 million of new capital. <br \/>\r<br>How many rights does Bubba receive?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='16431' \/><input type='hidden' id='answerType16431' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16431[]' id='answer-id-68041' class='answer   answerof-16431 ' value='68041'   \/><label for='answer-id-68041' id='answer-label-68041' class=' answer'><span>20<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16431[]' id='answer-id-68042' class='answer   answerof-16431 ' value='68042'   \/><label for='answer-id-68042' id='answer-label-68042' class=' answer'><span>50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16431[]' id='answer-id-68043' class='answer   answerof-16431 ' value='68043'   \/><label for='answer-id-68043' id='answer-label-68043' class=' answer'><span>100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16431[]' id='answer-id-68044' class='answer   answerof-16431 ' value='68044'   \/><label for='answer-id-68044' id='answer-label-68044' class=' answer'><span>200<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-16432'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Bubba holds 200 shares of common stock in a utility company and receives rights to subscribe to an additional 100 shares at $20. The utility company is raising $40 million of new capital. <br \/>\r<br>How many shares of common stock for the utility company were outstanding prior to the rights offering?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='16432' \/><input type='hidden' id='answerType16432' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16432[]' id='answer-id-68045' class='answer   answerof-16432 ' value='68045'   \/><label for='answer-id-68045' id='answer-label-68045' class=' answer'><span>2,000,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16432[]' id='answer-id-68046' class='answer   answerof-16432 ' value='68046'   \/><label for='answer-id-68046' id='answer-label-68046' class=' answer'><span>4,000,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16432[]' id='answer-id-68047' class='answer   answerof-16432 ' value='68047'   \/><label for='answer-id-68047' id='answer-label-68047' class=' answer'><span>1,000,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16432[]' id='answer-id-68048' class='answer   answerof-16432 ' value='68048'   \/><label for='answer-id-68048' id='answer-label-68048' class=' answer'><span>40,000,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-16433'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Bubba owns a perpetual warrant to buy one share of Internet Corporation common stock at $30. Internet Corporation stock is trading at 41.50 and is ex-dividend today at $0.75. <br \/>\r<br>What is the market value of Bubba\u2019s warrant?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='16433' \/><input type='hidden' id='answerType16433' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16433[]' id='answer-id-68049' class='answer   answerof-16433 ' value='68049'   \/><label for='answer-id-68049' id='answer-label-68049' class=' answer'><span>5.75<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16433[]' id='answer-id-68050' class='answer   answerof-16433 ' value='68050'   \/><label for='answer-id-68050' id='answer-label-68050' class=' answer'><span>5.62<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16433[]' id='answer-id-68051' class='answer   answerof-16433 ' value='68051'   \/><label for='answer-id-68051' id='answer-label-68051' class=' answer'><span>5.38<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16433[]' id='answer-id-68052' class='answer   answerof-16433 ' value='68052'   \/><label for='answer-id-68052' id='answer-label-68052' class=' answer'><span>cannot be determined from this information<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-16434'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>The preferred stock of Greatest Technology Corporation has a $100 par and is convertible into four shares of common stock. The preferred is trading at 104.50. The preferred is callable at 101. If the common stock price is presently 27.89, which of the following actions would be a successful arbitrage:<\/div><input type='hidden' name='question_id[]' id='qID_36' value='16434' \/><input type='hidden' id='answerType16434' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16434[]' id='answer-id-68053' class='answer   answerof-16434 ' value='68053'   \/><label for='answer-id-68053' id='answer-label-68053' class=' answer'><span>purchase 400 shares of common stock and sell 100 shares of preferred stock as \u201cshort exempt\u201d (that \r\nis, the sale is exempt from the uptick rule)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16434[]' id='answer-id-68054' class='answer   answerof-16434 ' value='68054'   \/><label for='answer-id-68054' id='answer-label-68054' class=' answer'><span>purchase the preferred stock and sell an appropriate amount of the common stock \u201cshort exempt\u201d<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16434[]' id='answer-id-68055' class='answer   answerof-16434 ' value='68055'   \/><label for='answer-id-68055' id='answer-label-68055' class=' answer'><span>purchase both the common and the preferred stocks as a hedge against further market risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16434[]' id='answer-id-68056' class='answer   answerof-16434 ' value='68056'   \/><label for='answer-id-68056' id='answer-label-68056' class=' answer'><span>purchase the preferred stock and let it be called, which is inevitable at these market prices<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-16435'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Commercial paper is typically issued with a maturity date not exceeding:<\/div><input type='hidden' name='question_id[]' id='qID_37' value='16435' \/><input type='hidden' id='answerType16435' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16435[]' id='answer-id-68057' class='answer   answerof-16435 ' value='68057'   \/><label for='answer-id-68057' id='answer-label-68057' class=' answer'><span>90 days<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16435[]' id='answer-id-68058' class='answer   answerof-16435 ' value='68058'   \/><label for='answer-id-68058' id='answer-label-68058' class=' answer'><span>6 months<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16435[]' id='answer-id-68059' class='answer   answerof-16435 ' value='68059'   \/><label for='answer-id-68059' id='answer-label-68059' class=' answer'><span>270 days<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16435[]' id='answer-id-68060' class='answer   answerof-16435 ' value='68060'   \/><label for='answer-id-68060' id='answer-label-68060' class=' answer'><span>1 year<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-16436'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>The minimum denomination for a US treasury bond is:<\/div><input type='hidden' name='question_id[]' id='qID_38' value='16436' \/><input type='hidden' id='answerType16436' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16436[]' id='answer-id-68061' class='answer   answerof-16436 ' value='68061'   \/><label for='answer-id-68061' id='answer-label-68061' class=' answer'><span>$100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16436[]' id='answer-id-68062' class='answer   answerof-16436 ' value='68062'   \/><label for='answer-id-68062' id='answer-label-68062' class=' answer'><span>$1,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16436[]' id='answer-id-68063' class='answer   answerof-16436 ' value='68063'   \/><label for='answer-id-68063' id='answer-label-68063' class=' answer'><span>$10,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16436[]' id='answer-id-68064' class='answer   answerof-16436 ' value='68064'   \/><label for='answer-id-68064' id='answer-label-68064' class=' answer'><span>$100,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-16437'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Which of the following has the least active secondary market?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='16437' \/><input type='hidden' id='answerType16437' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16437[]' id='answer-id-68065' class='answer   answerof-16437 ' value='68065'   \/><label for='answer-id-68065' id='answer-label-68065' class=' answer'><span>treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16437[]' id='answer-id-68066' class='answer   answerof-16437 ' value='68066'   \/><label for='answer-id-68066' id='answer-label-68066' class=' answer'><span>banker\u2019s acceptances<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16437[]' id='answer-id-68067' class='answer   answerof-16437 ' value='68067'   \/><label for='answer-id-68067' id='answer-label-68067' class=' answer'><span>certificates of deposit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16437[]' id='answer-id-68068' class='answer   answerof-16437 ' value='68068'   \/><label for='answer-id-68068' id='answer-label-68068' class=' answer'><span>commercial paper<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-16438'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Which of the following is not classified as a money market instrument?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='16438' \/><input type='hidden' id='answerType16438' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16438[]' id='answer-id-68069' class='answer   answerof-16438 ' value='68069'   \/><label for='answer-id-68069' id='answer-label-68069' class=' answer'><span>banker\u2019s acceptances<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16438[]' id='answer-id-68070' class='answer   answerof-16438 ' value='68070'   \/><label for='answer-id-68070' id='answer-label-68070' class=' answer'><span>commercial paper<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16438[]' id='answer-id-68071' class='answer   answerof-16438 ' value='68071'   \/><label for='answer-id-68071' id='answer-label-68071' class=' answer'><span>American Depository Receipts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16438[]' id='answer-id-68072' class='answer   answerof-16438 ' value='68072'   \/><label for='answer-id-68072' id='answer-label-68072' class=' answer'><span>treasury bills<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-16439'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Which of the following is not a characteristic of treasury bills?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='16439' \/><input type='hidden' id='answerType16439' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16439[]' id='answer-id-68073' class='answer   answerof-16439 ' value='68073'   \/><label for='answer-id-68073' id='answer-label-68073' class=' answer'><span>they are quoted on yield-to-maturity percentages<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16439[]' id='answer-id-68074' class='answer   answerof-16439 ' value='68074'   \/><label for='answer-id-68074' id='answer-label-68074' class=' answer'><span>their payments are exempt from state income tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16439[]' id='answer-id-68075' class='answer   answerof-16439 ' value='68075'   \/><label for='answer-id-68075' id='answer-label-68075' class=' answer'><span>the bid price is higher than the offer price<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16439[]' id='answer-id-68076' class='answer   answerof-16439 ' value='68076'   \/><label for='answer-id-68076' id='answer-label-68076' class=' answer'><span>they mature one to three years from the date of issuance<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-16440'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Which of the following price quotes is representative of a treasury bill?<\/div><input type='hidden' name='question_id[]' id='qID_42' value='16440' \/><input type='hidden' id='answerType16440' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16440[]' id='answer-id-68077' class='answer   answerof-16440 ' value='68077'   \/><label for='answer-id-68077' id='answer-label-68077' class=' answer'><span>98.9 - 100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16440[]' id='answer-id-68078' class='answer   answerof-16440 ' value='68078'   \/><label for='answer-id-68078' id='answer-label-68078' class=' answer'><span>96 - 96&frac12;<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16440[]' id='answer-id-68079' class='answer   answerof-16440 ' value='68079'   \/><label for='answer-id-68079' id='answer-label-68079' class=' answer'><span>5.78 - 5.73<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16440[]' id='answer-id-68080' class='answer   answerof-16440 ' value='68080'   \/><label for='answer-id-68080' id='answer-label-68080' class=' answer'><span>5.55 - 5.75<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-16441'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>Bubba want to buy a CMO. In general, how often should he expect to receive interest payments?<\/div><input type='hidden' name='question_id[]' id='qID_43' value='16441' \/><input type='hidden' id='answerType16441' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16441[]' id='answer-id-68081' class='answer   answerof-16441 ' value='68081'   \/><label for='answer-id-68081' id='answer-label-68081' class=' answer'><span>every week<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16441[]' id='answer-id-68082' class='answer   answerof-16441 ' value='68082'   \/><label for='answer-id-68082' id='answer-label-68082' class=' answer'><span>every month<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16441[]' id='answer-id-68083' class='answer   answerof-16441 ' value='68083'   \/><label for='answer-id-68083' id='answer-label-68083' class=' answer'><span>every year<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16441[]' id='answer-id-68084' class='answer   answerof-16441 ' value='68084'   \/><label for='answer-id-68084' id='answer-label-68084' class=' answer'><span>at maturity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-16442'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>A CMO is issued that has three tranches. One has an average life of 2 years. A second has an average life of 10 years. The third has an average life of 30 years. Initially, interest payments are distributed in this order:<\/div><input type='hidden' name='question_id[]' id='qID_44' value='16442' \/><input type='hidden' id='answerType16442' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16442[]' id='answer-id-68085' class='answer   answerof-16442 ' value='68085'   \/><label for='answer-id-68085' id='answer-label-68085' class=' answer'><span>first to the holders of the 2-year tranche<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16442[]' id='answer-id-68086' class='answer   answerof-16442 ' value='68086'   \/><label for='answer-id-68086' id='answer-label-68086' class=' answer'><span>first to the holders of the 10-year tranche<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16442[]' id='answer-id-68087' class='answer   answerof-16442 ' value='68087'   \/><label for='answer-id-68087' id='answer-label-68087' class=' answer'><span>first to the holders of the 30-year tranche<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16442[]' id='answer-id-68088' class='answer   answerof-16442 ' value='68088'   \/><label for='answer-id-68088' id='answer-label-68088' class=' answer'><span>equally to all CMO holders of any tranche<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-16443'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>Which of the following have a stated interest rate on the face of the certificates?<\/div><input type='hidden' name='question_id[]' id='qID_45' value='16443' \/><input type='hidden' id='answerType16443' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16443[]' id='answer-id-68089' class='answer   answerof-16443 ' value='68089'   \/><label for='answer-id-68089' id='answer-label-68089' class=' answer'><span>treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16443[]' id='answer-id-68090' class='answer   answerof-16443 ' value='68090'   \/><label for='answer-id-68090' id='answer-label-68090' class=' answer'><span>treasury notes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16443[]' id='answer-id-68091' class='answer   answerof-16443 ' value='68091'   \/><label for='answer-id-68091' id='answer-label-68091' class=' answer'><span>treasury bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16443[]' id='answer-id-68092' class='answer   answerof-16443 ' value='68092'   \/><label for='answer-id-68092' id='answer-label-68092' class=' answer'><span>both B and C<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-16444'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>Bubba buys a US treasury bond. The interest he earns is:<\/div><input type='hidden' name='question_id[]' id='qID_46' value='16444' \/><input type='hidden' id='answerType16444' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16444[]' id='answer-id-68093' class='answer   answerof-16444 ' value='68093'   \/><label for='answer-id-68093' id='answer-label-68093' class=' answer'><span>subject to federal and state income tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16444[]' id='answer-id-68094' class='answer   answerof-16444 ' value='68094'   \/><label for='answer-id-68094' id='answer-label-68094' class=' answer'><span>exempt from federal and state income tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16444[]' id='answer-id-68095' class='answer   answerof-16444 ' value='68095'   \/><label for='answer-id-68095' id='answer-label-68095' class=' answer'><span>subject to state income tax but exempt from federal income tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16444[]' id='answer-id-68096' class='answer   answerof-16444 ' value='68096'   \/><label for='answer-id-68096' id='answer-label-68096' class=' answer'><span>subject to federal income tax but exempt from state income tax<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-16445'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>Which of the following does not issue debt securities that trade in the open market?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='16445' \/><input type='hidden' id='answerType16445' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16445[]' id='answer-id-68097' class='answer   answerof-16445 ' value='68097'   \/><label for='answer-id-68097' id='answer-label-68097' class=' answer'><span>Fannie Mae<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16445[]' id='answer-id-68098' class='answer   answerof-16445 ' value='68098'   \/><label for='answer-id-68098' id='answer-label-68098' class=' answer'><span>Freddie Mac<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16445[]' id='answer-id-68099' class='answer   answerof-16445 ' value='68099'   \/><label for='answer-id-68099' id='answer-label-68099' class=' answer'><span>Federal Reserve Banks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16445[]' id='answer-id-68100' class='answer   answerof-16445 ' value='68100'   \/><label for='answer-id-68100' id='answer-label-68100' class=' answer'><span>Federal Land Banks<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-16446'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>When depositors withdraw money from savings institutions to invest in US treasury securities, this is <br \/>\r<br>called:<\/div><input type='hidden' name='question_id[]' id='qID_48' value='16446' \/><input type='hidden' id='answerType16446' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16446[]' id='answer-id-68101' class='answer   answerof-16446 ' value='68101'   \/><label for='answer-id-68101' id='answer-label-68101' class=' answer'><span>the multiplier effect<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16446[]' id='answer-id-68102' class='answer   answerof-16446 ' value='68102'   \/><label for='answer-id-68102' id='answer-label-68102' class=' answer'><span>disintermediation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16446[]' id='answer-id-68103' class='answer   answerof-16446 ' value='68103'   \/><label for='answer-id-68103' id='answer-label-68103' class=' answer'><span>reverse repo<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16446[]' id='answer-id-68104' class='answer   answerof-16446 ' value='68104'   \/><label for='answer-id-68104' id='answer-label-68104' class=' answer'><span>open market operations<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-16447'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>Smart Company, Inc., has cash it intends to use in six months for purchase of equipment. The most <br \/>\r<br>prudent investment during the six-month period is:<\/div><input type='hidden' name='question_id[]' id='qID_49' value='16447' \/><input type='hidden' id='answerType16447' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16447[]' id='answer-id-68105' class='answer   answerof-16447 ' value='68105'   \/><label for='answer-id-68105' id='answer-label-68105' class=' answer'><span>common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16447[]' id='answer-id-68106' class='answer   answerof-16447 ' value='68106'   \/><label for='answer-id-68106' id='answer-label-68106' class=' answer'><span>preferred stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16447[]' id='answer-id-68107' class='answer   answerof-16447 ' value='68107'   \/><label for='answer-id-68107' id='answer-label-68107' class=' answer'><span>treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16447[]' id='answer-id-68108' class='answer   answerof-16447 ' value='68108'   \/><label for='answer-id-68108' id='answer-label-68108' class=' answer'><span>treasury bonds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-16448'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>Which of the following is identified as a funded debt instrument?<\/div><input type='hidden' name='question_id[]' id='qID_50' value='16448' \/><input type='hidden' id='answerType16448' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16448[]' id='answer-id-68109' class='answer   answerof-16448 ' value='68109'   \/><label for='answer-id-68109' id='answer-label-68109' class=' answer'><span>US treasury bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16448[]' id='answer-id-68110' class='answer   answerof-16448 ' value='68110'   \/><label for='answer-id-68110' id='answer-label-68110' class=' answer'><span>Series EE savings bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16448[]' id='answer-id-68111' class='answer   answerof-16448 ' value='68111'   \/><label for='answer-id-68111' id='answer-label-68111' class=' answer'><span>corporate bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16448[]' id='answer-id-68112' class='answer   answerof-16448 ' value='68112'   \/><label for='answer-id-68112' id='answer-label-68112' class=' answer'><span>Fannie Mae bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-16449'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>A typical money market instrument carries which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_51' value='16449' \/><input type='hidden' id='answerType16449' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16449[]' id='answer-id-68113' class='answer   answerof-16449 ' value='68113'   \/><label for='answer-id-68113' id='answer-label-68113' class=' answer'><span>serial bond maturity date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16449[]' id='answer-id-68114' class='answer   answerof-16449 ' value='68114'   \/><label for='answer-id-68114' id='answer-label-68114' class=' answer'><span>long-term maturity date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16449[]' id='answer-id-68115' class='answer   answerof-16449 ' value='68115'   \/><label for='answer-id-68115' id='answer-label-68115' class=' answer'><span>medium-term maturity date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16449[]' id='answer-id-68116' class='answer   answerof-16449 ' value='68116'   \/><label for='answer-id-68116' id='answer-label-68116' class=' answer'><span>short-term maturity date<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-16450'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>An offering price of 102 plus accrued interest applies to which of the following securities?<\/div><input type='hidden' name='question_id[]' id='qID_52' value='16450' \/><input type='hidden' id='answerType16450' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16450[]' id='answer-id-68117' class='answer   answerof-16450 ' value='68117'   \/><label for='answer-id-68117' id='answer-label-68117' class=' answer'><span>treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16450[]' id='answer-id-68118' class='answer   answerof-16450 ' value='68118'   \/><label for='answer-id-68118' id='answer-label-68118' class=' answer'><span>certificates of deposit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16450[]' id='answer-id-68119' class='answer   answerof-16450 ' value='68119'   \/><label for='answer-id-68119' id='answer-label-68119' class=' answer'><span>commercial paper<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16450[]' id='answer-id-68120' class='answer   answerof-16450 ' value='68120'   \/><label for='answer-id-68120' id='answer-label-68120' class=' answer'><span>banker\u2019s acceptances<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-16451'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>Bubba Corporation owes income tax. Which of the following may be tendered at par value for payment of the tax?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='16451' \/><input type='hidden' id='answerType16451' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16451[]' id='answer-id-68121' class='answer   answerof-16451 ' value='68121'   \/><label for='answer-id-68121' id='answer-label-68121' class=' answer'><span>term bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16451[]' id='answer-id-68122' class='answer   answerof-16451 ' value='68122'   \/><label for='answer-id-68122' id='answer-label-68122' class=' answer'><span>tax anticipation bill<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16451[]' id='answer-id-68123' class='answer   answerof-16451 ' value='68123'   \/><label for='answer-id-68123' id='answer-label-68123' class=' answer'><span>special tax bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16451[]' id='answer-id-68124' class='answer   answerof-16451 ' value='68124'   \/><label for='answer-id-68124' id='answer-label-68124' class=' answer'><span>pre-issue bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-16452'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>An advertisement for a CMO security by a member of FINRA should disclose which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_54' value='16452' \/><input type='hidden' id='answerType16452' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16452[]' id='answer-id-68125' class='answer   answerof-16452 ' value='68125'   \/><label for='answer-id-68125' id='answer-label-68125' class=' answer'><span>the exact yield investor will earn<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16452[]' id='answer-id-68126' class='answer   answerof-16452 ' value='68126'   \/><label for='answer-id-68126' id='answer-label-68126' class=' answer'><span>the yield based upon the prevailing discount rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16452[]' id='answer-id-68127' class='answer   answerof-16452 ' value='68127'   \/><label for='answer-id-68127' id='answer-label-68127' class=' answer'><span>that the stated yield is an estimate that may vary passed upon prepayments and market factors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16452[]' id='answer-id-68128' class='answer   answerof-16452 ' value='68128'   \/><label for='answer-id-68128' id='answer-label-68128' class=' answer'><span>that the yield may be greater than the stated percentage but never less<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-16453'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>Which of the following statements incorrectly describes US securities markets?<\/div><input type='hidden' name='question_id[]' id='qID_55' value='16453' \/><input type='hidden' id='answerType16453' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16453[]' id='answer-id-68129' class='answer   answerof-16453 ' value='68129'   \/><label for='answer-id-68129' id='answer-label-68129' class=' answer'><span>a capital market comprised of long-term debt and equity issues<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16453[]' id='answer-id-68130' class='answer   answerof-16453 ' value='68130'   \/><label for='answer-id-68130' id='answer-label-68130' class=' answer'><span>a money market comprised of short-term debt and equity issues<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16453[]' id='answer-id-68131' class='answer   answerof-16453 ' value='68131'   \/><label for='answer-id-68131' id='answer-label-68131' class=' answer'><span>a municipal market comprised of tax-exempt issues of state and local governments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16453[]' id='answer-id-68132' class='answer   answerof-16453 ' value='68132'   \/><label for='answer-id-68132' id='answer-label-68132' class=' answer'><span>a government and agency market comprised of both short-term and long-term debt issues<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-16454'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>What rate of return takes into consideration appreciation or depreciation in market value relating to the par value of a debt security?<\/div><input type='hidden' name='question_id[]' id='qID_56' value='16454' \/><input type='hidden' id='answerType16454' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16454[]' id='answer-id-68133' class='answer   answerof-16454 ' value='68133'   \/><label for='answer-id-68133' id='answer-label-68133' class=' answer'><span>current yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16454[]' id='answer-id-68134' class='answer   answerof-16454 ' value='68134'   \/><label for='answer-id-68134' id='answer-label-68134' class=' answer'><span>yield to maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16454[]' id='answer-id-68135' class='answer   answerof-16454 ' value='68135'   \/><label for='answer-id-68135' id='answer-label-68135' class=' answer'><span>nominal yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16454[]' id='answer-id-68136' class='answer   answerof-16454 ' value='68136'   \/><label for='answer-id-68136' id='answer-label-68136' class=' answer'><span>basis yield<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-16455'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Which of the following is not an attribute of US treasury bills?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='16455' \/><input type='hidden' id='answerType16455' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16455[]' id='answer-id-68137' class='answer   answerof-16455 ' value='68137'   \/><label for='answer-id-68137' id='answer-label-68137' class=' answer'><span>an unusually high degree of liquidity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16455[]' id='answer-id-68138' class='answer   answerof-16455 ' value='68138'   \/><label for='answer-id-68138' id='answer-label-68138' class=' answer'><span>always sells at a discount to face value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16455[]' id='answer-id-68139' class='answer   answerof-16455 ' value='68139'   \/><label for='answer-id-68139' id='answer-label-68139' class=' answer'><span>is most often issued with three-month, six-month, and one-year maturities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16455[]' id='answer-id-68140' class='answer   answerof-16455 ' value='68140'   \/><label for='answer-id-68140' id='answer-label-68140' class=' answer'><span>interest is exempt from federal income taxes<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-16456'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>Under which of the following conditions are homeowners most likely to refinance existing mortgages?<\/div><input type='hidden' name='question_id[]' id='qID_58' value='16456' \/><input type='hidden' id='answerType16456' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16456[]' id='answer-id-68141' class='answer   answerof-16456 ' value='68141'   \/><label for='answer-id-68141' id='answer-label-68141' class=' answer'><span>when interest rates rise<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16456[]' id='answer-id-68142' class='answer   answerof-16456 ' value='68142'   \/><label for='answer-id-68142' id='answer-label-68142' class=' answer'><span>when interest rates fall<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16456[]' id='answer-id-68143' class='answer   answerof-16456 ' value='68143'   \/><label for='answer-id-68143' id='answer-label-68143' class=' answer'><span>when interest rates are stable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16456[]' id='answer-id-68144' class='answer   answerof-16456 ' value='68144'   \/><label for='answer-id-68144' id='answer-label-68144' class=' answer'><span>when the yield curve is inverted<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-16457'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>Which of the following is not true about US treasury bills?<\/div><input type='hidden' name='question_id[]' id='qID_59' value='16457' \/><input type='hidden' id='answerType16457' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16457[]' id='answer-id-68145' class='answer   answerof-16457 ' value='68145'   \/><label for='answer-id-68145' id='answer-label-68145' class=' answer'><span>they are issued at a discount<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16457[]' id='answer-id-68146' class='answer   answerof-16457 ' value='68146'   \/><label for='answer-id-68146' id='answer-label-68146' class=' answer'><span>they are money market instruments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16457[]' id='answer-id-68147' class='answer   answerof-16457 ' value='68147'   \/><label for='answer-id-68147' id='answer-label-68147' class=' answer'><span>they are issued in denominations of $1,000 to $1,000,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16457[]' id='answer-id-68148' class='answer   answerof-16457 ' value='68148'   \/><label for='answer-id-68148' id='answer-label-68148' class=' answer'><span>they are general obligations of the US government<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-16458'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>CMOs are sold and priced based upon which of the following:<\/div><input type='hidden' name='question_id[]' id='qID_60' value='16458' \/><input type='hidden' id='answerType16458' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16458[]' id='answer-id-68149' class='answer   answerof-16458 ' value='68149'   \/><label for='answer-id-68149' id='answer-label-68149' class=' answer'><span>expected average life<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16458[]' id='answer-id-68150' class='answer   answerof-16458 ' value='68150'   \/><label for='answer-id-68150' id='answer-label-68150' class=' answer'><span>stated maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16458[]' id='answer-id-68151' class='answer   answerof-16458 ' value='68151'   \/><label for='answer-id-68151' id='answer-label-68151' class=' answer'><span>current yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16458[]' id='answer-id-68152' class='answer   answerof-16458 ' value='68152'   \/><label for='answer-id-68152' id='answer-label-68152' class=' answer'><span>par value<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-16459'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>FINRA advertising standards permit a dealer to state that a CMO has an implied AAA rating if the <br \/>\r<br>securities are issued:<\/div><input type='hidden' name='question_id[]' id='qID_61' value='16459' \/><input type='hidden' id='answerType16459' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16459[]' id='answer-id-68153' class='answer   answerof-16459 ' value='68153'   \/><label for='answer-id-68153' id='answer-label-68153' class=' answer'><span>with an average life no longer than ten years<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16459[]' id='answer-id-68154' class='answer   answerof-16459 ' value='68154'   \/><label for='answer-id-68154' id='answer-label-68154' class=' answer'><span>by a US government agency<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16459[]' id='answer-id-68155' class='answer   answerof-16459 ' value='68155'   \/><label for='answer-id-68155' id='answer-label-68155' class=' answer'><span>by a private issuer who has not yet received an expected AAA rating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16459[]' id='answer-id-68156' class='answer   answerof-16459 ' value='68156'   \/><label for='answer-id-68156' id='answer-label-68156' class=' answer'><span>in amounts less than $1,000,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-16460'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>What is the term applied to a classification of CMO securities having a stated maturity, average life, and estimated yield?<\/div><input type='hidden' name='question_id[]' id='qID_62' value='16460' \/><input type='hidden' id='answerType16460' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16460[]' id='answer-id-68157' class='answer   answerof-16460 ' value='68157'   \/><label for='answer-id-68157' id='answer-label-68157' class=' answer'><span>tranche<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16460[]' id='answer-id-68158' class='answer   answerof-16460 ' value='68158'   \/><label for='answer-id-68158' id='answer-label-68158' class=' answer'><span>tier<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16460[]' id='answer-id-68159' class='answer   answerof-16460 ' value='68159'   \/><label for='answer-id-68159' id='answer-label-68159' class=' answer'><span>bracket<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16460[]' id='answer-id-68160' class='answer   answerof-16460 ' value='68160'   \/><label for='answer-id-68160' id='answer-label-68160' class=' answer'><span>bucket<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-16461'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>Bubba is buying a Federal Home Loan Bank issue that is offered at 95.22. <br \/>\r<br>How much will he pay to purchase one bond?<\/div><input type='hidden' name='question_id[]' id='qID_63' value='16461' \/><input type='hidden' id='answerType16461' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16461[]' id='answer-id-68161' class='answer   answerof-16461 ' value='68161'   \/><label for='answer-id-68161' id='answer-label-68161' class=' answer'><span>$95.22<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16461[]' id='answer-id-68162' class='answer   answerof-16461 ' value='68162'   \/><label for='answer-id-68162' id='answer-label-68162' class=' answer'><span>$951.63<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16461[]' id='answer-id-68163' class='answer   answerof-16461 ' value='68163'   \/><label for='answer-id-68163' id='answer-label-68163' class=' answer'><span>$952.20<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16461[]' id='answer-id-68164' class='answer   answerof-16461 ' value='68164'   \/><label for='answer-id-68164' id='answer-label-68164' class=' answer'><span>$956.88<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-16462'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>How much currency is one mil worth?<\/div><input type='hidden' name='question_id[]' id='qID_64' value='16462' \/><input type='hidden' id='answerType16462' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16462[]' id='answer-id-68165' class='answer   answerof-16462 ' value='68165'   \/><label for='answer-id-68165' id='answer-label-68165' class=' answer'><span>one-tenth of one cent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16462[]' id='answer-id-68166' class='answer   answerof-16462 ' value='68166'   \/><label for='answer-id-68166' id='answer-label-68166' class=' answer'><span>one-tenth of $1<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16462[]' id='answer-id-68167' class='answer   answerof-16462 ' value='68167'   \/><label for='answer-id-68167' id='answer-label-68167' class=' answer'><span>one-tenth of $100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16462[]' id='answer-id-68168' class='answer   answerof-16462 ' value='68168'   \/><label for='answer-id-68168' id='answer-label-68168' class=' answer'><span>one-tenth of $1,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-16463'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>Which of the following pays interest at maturity only?<\/div><input type='hidden' name='question_id[]' id='qID_65' value='16463' \/><input type='hidden' id='answerType16463' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16463[]' id='answer-id-68169' class='answer   answerof-16463 ' value='68169'   \/><label for='answer-id-68169' id='answer-label-68169' class=' answer'><span>a corporate serial bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16463[]' id='answer-id-68170' class='answer   answerof-16463 ' value='68170'   \/><label for='answer-id-68170' id='answer-label-68170' class=' answer'><span>US treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16463[]' id='answer-id-68171' class='answer   answerof-16463 ' value='68171'   \/><label for='answer-id-68171' id='answer-label-68171' class=' answer'><span>Income bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16463[]' id='answer-id-68172' class='answer   answerof-16463 ' value='68172'   \/><label for='answer-id-68172' id='answer-label-68172' class=' answer'><span>Series H savings bonds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-16464'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>Which of the following securities has the highest amount of market risk?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='16464' \/><input type='hidden' id='answerType16464' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16464[]' id='answer-id-68173' class='answer   answerof-16464 ' value='68173'   \/><label for='answer-id-68173' id='answer-label-68173' class=' answer'><span>US treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16464[]' id='answer-id-68174' class='answer   answerof-16464 ' value='68174'   \/><label for='answer-id-68174' id='answer-label-68174' class=' answer'><span>US treasury certificates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16464[]' id='answer-id-68175' class='answer   answerof-16464 ' value='68175'   \/><label for='answer-id-68175' id='answer-label-68175' class=' answer'><span>US treasury notes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16464[]' id='answer-id-68176' class='answer   answerof-16464 ' value='68176'   \/><label for='answer-id-68176' id='answer-label-68176' class=' answer'><span>savings bank deposits<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-16465'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>Which of the following is not a marketable security?<\/div><input type='hidden' name='question_id[]' id='qID_67' value='16465' \/><input type='hidden' id='answerType16465' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16465[]' id='answer-id-68177' class='answer   answerof-16465 ' value='68177'   \/><label for='answer-id-68177' id='answer-label-68177' class=' answer'><span>tax anticipation bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16465[]' id='answer-id-68178' class='answer   answerof-16465 ' value='68178'   \/><label for='answer-id-68178' id='answer-label-68178' class=' answer'><span>municipal bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16465[]' id='answer-id-68179' class='answer   answerof-16465 ' value='68179'   \/><label for='answer-id-68179' id='answer-label-68179' class=' answer'><span>treasury bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16465[]' id='answer-id-68180' class='answer   answerof-16465 ' value='68180'   \/><label for='answer-id-68180' id='answer-label-68180' class=' answer'><span>Series EE bonds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-16466'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>What type of security is quoted with a bid price of 4.72 and an asking price of 4.68?<\/div><input type='hidden' name='question_id[]' id='qID_68' value='16466' \/><input type='hidden' id='answerType16466' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16466[]' id='answer-id-68181' class='answer   answerof-16466 ' value='68181'   \/><label for='answer-id-68181' id='answer-label-68181' class=' answer'><span>US treasury note<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16466[]' id='answer-id-68182' class='answer   answerof-16466 ' value='68182'   \/><label for='answer-id-68182' id='answer-label-68182' class=' answer'><span>US treasury bill<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16466[]' id='answer-id-68183' class='answer   answerof-16466 ' value='68183'   \/><label for='answer-id-68183' id='answer-label-68183' class=' answer'><span>US treasury bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16466[]' id='answer-id-68184' class='answer   answerof-16466 ' value='68184'   \/><label for='answer-id-68184' id='answer-label-68184' class=' answer'><span>Series H bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-16467'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>Bubba is buying a treasury bill. The discount he receives results in Bubba\u2019s determination of:<\/div><input type='hidden' name='question_id[]' id='qID_69' value='16467' \/><input type='hidden' id='answerType16467' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16467[]' id='answer-id-68185' class='answer   answerof-16467 ' value='68185'   \/><label for='answer-id-68185' id='answer-label-68185' class=' answer'><span>face value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16467[]' id='answer-id-68186' class='answer   answerof-16467 ' value='68186'   \/><label for='answer-id-68186' id='answer-label-68186' class=' answer'><span>nominal yield<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16467[]' id='answer-id-68187' class='answer   answerof-16467 ' value='68187'   \/><label for='answer-id-68187' id='answer-label-68187' class=' answer'><span>rate of return<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16467[]' id='answer-id-68188' class='answer   answerof-16467 ' value='68188'   \/><label for='answer-id-68188' id='answer-label-68188' class=' answer'><span>yield to call<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-16468'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>A treasury obligation having no fixed rate of interest with a thirty-day maturity due April 22 is most likely a:<\/div><input type='hidden' name='question_id[]' id='qID_70' value='16468' \/><input type='hidden' id='answerType16468' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16468[]' id='answer-id-68189' class='answer   answerof-16468 ' value='68189'   \/><label for='answer-id-68189' id='answer-label-68189' class=' answer'><span>treasury note<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16468[]' id='answer-id-68190' class='answer   answerof-16468 ' value='68190'   \/><label for='answer-id-68190' id='answer-label-68190' class=' answer'><span>tax anticipation bill<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16468[]' id='answer-id-68191' class='answer   answerof-16468 ' value='68191'   \/><label for='answer-id-68191' id='answer-label-68191' class=' answer'><span>Series H bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16468[]' id='answer-id-68192' class='answer   answerof-16468 ' value='68192'   \/><label for='answer-id-68192' id='answer-label-68192' class=' answer'><span>Series EE bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-16469'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Which of the following has the greatest risk?<\/div><input type='hidden' name='question_id[]' id='qID_71' value='16469' \/><input type='hidden' id='answerType16469' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16469[]' id='answer-id-68193' class='answer   answerof-16469 ' value='68193'   \/><label for='answer-id-68193' id='answer-label-68193' class=' answer'><span>a guaranteed corporate bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16469[]' id='answer-id-68194' class='answer   answerof-16469 ' value='68194'   \/><label for='answer-id-68194' id='answer-label-68194' class=' answer'><span>a GNMA bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16469[]' id='answer-id-68195' class='answer   answerof-16469 ' value='68195'   \/><label for='answer-id-68195' id='answer-label-68195' class=' answer'><span>a Series H bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16469[]' id='answer-id-68196' class='answer   answerof-16469 ' value='68196'   \/><label for='answer-id-68196' id='answer-label-68196' class=' answer'><span>a treasury bill<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-16470'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>Bubba wants to buy a US treasury bond with a bid of 97.28 and an asking of 98.2. <br \/>\r<br>How were these prices established?<\/div><input type='hidden' name='question_id[]' id='qID_72' value='16470' \/><input type='hidden' id='answerType16470' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16470[]' id='answer-id-68197' class='answer   answerof-16470 ' value='68197'   \/><label for='answer-id-68197' id='answer-label-68197' class=' answer'><span>by the FINRA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16470[]' id='answer-id-68198' class='answer   answerof-16470 ' value='68198'   \/><label for='answer-id-68198' id='answer-label-68198' class=' answer'><span>by the Federal Reserve Board<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16470[]' id='answer-id-68199' class='answer   answerof-16470 ' value='68199'   \/><label for='answer-id-68199' id='answer-label-68199' class=' answer'><span>by competitive biding<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16470[]' id='answer-id-68200' class='answer   answerof-16470 ' value='68200'   \/><label for='answer-id-68200' id='answer-label-68200' class=' answer'><span>by the terms of the bond<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-16471'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>Which of the following are direct obligations of the US government?<\/div><input type='hidden' name='question_id[]' id='qID_73' value='16471' \/><input type='hidden' id='answerType16471' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16471[]' id='answer-id-68201' class='answer   answerof-16471 ' value='68201'   \/><label for='answer-id-68201' id='answer-label-68201' class=' answer'><span>Import-Export bank bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16471[]' id='answer-id-68202' class='answer   answerof-16471 ' value='68202'   \/><label for='answer-id-68202' id='answer-label-68202' class=' answer'><span>Series EE bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16471[]' id='answer-id-68203' class='answer   answerof-16471 ' value='68203'   \/><label for='answer-id-68203' id='answer-label-68203' class=' answer'><span>Farm Credit System bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16471[]' id='answer-id-68204' class='answer   answerof-16471 ' value='68204'   \/><label for='answer-id-68204' id='answer-label-68204' class=' answer'><span>both B and C<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-16472'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>A financial institution requesting a quote on a block of 100 bonds from a dealer in government securities receives a quote of 98.02 bid, 98.06 asked. <br \/>\r<br>What is the dollar amount the institution will receive if the financial institution sells these bonds to the dealer?\u2019\u2019<\/div><input type='hidden' name='question_id[]' id='qID_74' value='16472' \/><input type='hidden' id='answerType16472' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16472[]' id='answer-id-68205' class='answer   answerof-16472 ' value='68205'   \/><label for='answer-id-68205' id='answer-label-68205' class=' answer'><span>$98,062.50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16472[]' id='answer-id-68206' class='answer   answerof-16472 ' value='68206'   \/><label for='answer-id-68206' id='answer-label-68206' class=' answer'><span>$98,187.50<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16472[]' id='answer-id-68207' class='answer   answerof-16472 ' value='68207'   \/><label for='answer-id-68207' id='answer-label-68207' class=' answer'><span>$98,250.00<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16472[]' id='answer-id-68208' class='answer   answerof-16472 ' value='68208'   \/><label for='answer-id-68208' id='answer-label-68208' class=' answer'><span>$98,750.00<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-16473'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Bubba plans to borrow some money and pledge securities as collateral. <br \/>\r<br>Which of the following can he not use as collateral?<\/div><input type='hidden' name='question_id[]' id='qID_75' value='16473' \/><input type='hidden' id='answerType16473' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16473[]' id='answer-id-68209' class='answer   answerof-16473 ' value='68209'   \/><label for='answer-id-68209' id='answer-label-68209' class=' answer'><span>Series EE bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16473[]' id='answer-id-68210' class='answer   answerof-16473 ' value='68210'   \/><label for='answer-id-68210' id='answer-label-68210' class=' answer'><span>US treasury bills<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16473[]' id='answer-id-68211' class='answer   answerof-16473 ' value='68211'   \/><label for='answer-id-68211' id='answer-label-68211' class=' answer'><span>US treasury notes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16473[]' id='answer-id-68212' class='answer   answerof-16473 ' value='68212'   \/><label for='answer-id-68212' id='answer-label-68212' class=' answer'><span>US treasury bonds<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-16474'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>Big Easy Investment Banking, Inc., is participating in an Eastern account underwriting of $10 million of municipal bonds by agreeing to underwrite 10% of the issue. One week later, $4 million remains unsold but Big Easy has distributed $1.5 million of bonds. <br \/>\r<br>What is the liability of Big Easy remaining in the account?<\/div><input type='hidden' name='question_id[]' id='qID_76' value='16474' \/><input type='hidden' id='answerType16474' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16474[]' id='answer-id-68213' class='answer   answerof-16474 ' value='68213'   \/><label for='answer-id-68213' id='answer-label-68213' class=' answer'><span>$0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16474[]' id='answer-id-68214' class='answer   answerof-16474 ' value='68214'   \/><label for='answer-id-68214' id='answer-label-68214' class=' answer'><span>$400,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16474[]' id='answer-id-68215' class='answer   answerof-16474 ' value='68215'   \/><label for='answer-id-68215' id='answer-label-68215' class=' answer'><span>$600,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16474[]' id='answer-id-68216' class='answer   answerof-16474 ' value='68216'   \/><label for='answer-id-68216' id='answer-label-68216' class=' answer'><span>$1,000,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-16475'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>Big Easy Investment Banking, Inc., participates in a Western account underwriting of $10 million of municipal bonds by agreeing to underwrite 10% of the issue. One week later, $4 million remains unsold but Big Easy has distributed $1.5 million of bonds. <br \/>\r<br>What is the liability of Big Easy remaining in the account?<\/div><input type='hidden' name='question_id[]' id='qID_77' value='16475' \/><input type='hidden' id='answerType16475' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16475[]' id='answer-id-68217' class='answer   answerof-16475 ' value='68217'   \/><label for='answer-id-68217' id='answer-label-68217' class=' answer'><span>$0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16475[]' id='answer-id-68218' class='answer   answerof-16475 ' value='68218'   \/><label for='answer-id-68218' id='answer-label-68218' class=' answer'><span>$400,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16475[]' id='answer-id-68219' class='answer   answerof-16475 ' value='68219'   \/><label for='answer-id-68219' id='answer-label-68219' class=' answer'><span>$600,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16475[]' id='answer-id-68220' class='answer   answerof-16475 ' value='68220'   \/><label for='answer-id-68220' id='answer-label-68220' class=' answer'><span>$1,000,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-16476'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>Bubba buys \u201cdouble-barreled\u201d municipal bonds. What is the source of guaranteed repayment on these bonds?<\/div><input type='hidden' name='question_id[]' id='qID_78' value='16476' \/><input type='hidden' id='answerType16476' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16476[]' id='answer-id-68221' class='answer   answerof-16476 ' value='68221'   \/><label for='answer-id-68221' id='answer-label-68221' class=' answer'><span>a specific municipal project plus a federal subsidy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16476[]' id='answer-id-68222' class='answer   answerof-16476 ' value='68222'   \/><label for='answer-id-68222' id='answer-label-68222' class=' answer'><span>two specific municipal projects<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16476[]' id='answer-id-68223' class='answer   answerof-16476 ' value='68223'   \/><label for='answer-id-68223' id='answer-label-68223' class=' answer'><span>all projects of the issuing municipality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16476[]' id='answer-id-68224' class='answer   answerof-16476 ' value='68224'   \/><label for='answer-id-68224' id='answer-label-68224' class=' answer'><span>one specific municipal project plus the full financial strength of the issuer<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-16477'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>Revenue bonds are least likely to provide constructions funds for:<\/div><input type='hidden' name='question_id[]' id='qID_79' value='16477' \/><input type='hidden' id='answerType16477' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16477[]' id='answer-id-68225' class='answer   answerof-16477 ' value='68225'   \/><label for='answer-id-68225' id='answer-label-68225' class=' answer'><span>a toll highway<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16477[]' id='answer-id-68226' class='answer   answerof-16477 ' value='68226'   \/><label for='answer-id-68226' id='answer-label-68226' class=' answer'><span>an airport<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16477[]' id='answer-id-68227' class='answer   answerof-16477 ' value='68227'   \/><label for='answer-id-68227' id='answer-label-68227' class=' answer'><span>a public school<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16477[]' id='answer-id-68228' class='answer   answerof-16477 ' value='68228'   \/><label for='answer-id-68228' id='answer-label-68228' class=' answer'><span>a pollution control facility<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-16478'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>What percentage of maintenance charges and debt service are covered by the rate covenant of a revenue bond issued to finance a municipal toll road?<\/div><input type='hidden' name='question_id[]' id='qID_80' value='16478' \/><input type='hidden' id='answerType16478' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16478[]' id='answer-id-68229' class='answer   answerof-16478 ' value='68229'   \/><label for='answer-id-68229' id='answer-label-68229' class=' answer'><span>75%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16478[]' id='answer-id-68230' class='answer   answerof-16478 ' value='68230'   \/><label for='answer-id-68230' id='answer-label-68230' class=' answer'><span>100%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16478[]' id='answer-id-68231' class='answer   answerof-16478 ' value='68231'   \/><label for='answer-id-68231' id='answer-label-68231' class=' answer'><span>120%<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16478[]' id='answer-id-68232' class='answer   answerof-16478 ' value='68232'   \/><label for='answer-id-68232' id='answer-label-68232' class=' answer'><span>150%<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-81' style=';'><div id='questionWrap-81'  class='   watupro-question-id-16479'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>81. <\/span>Municipal bond brokers generally conduct the following:<\/div><input type='hidden' name='question_id[]' id='qID_81' value='16479' \/><input type='hidden' id='answerType16479' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16479[]' id='answer-id-68233' class='answer   answerof-16479 ' value='68233'   \/><label for='answer-id-68233' id='answer-label-68233' class=' answer'><span>trade for dealer banks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16479[]' id='answer-id-68234' class='answer   answerof-16479 ' value='68234'   \/><label for='answer-id-68234' id='answer-label-68234' class=' answer'><span>trade for non-bank dealers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16479[]' id='answer-id-68235' class='answer   answerof-16479 ' value='68235'   \/><label for='answer-id-68235' id='answer-label-68235' class=' answer'><span>trade for their own account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16479[]' id='answer-id-68236' class='answer   answerof-16479 ' value='68236'   \/><label for='answer-id-68236' id='answer-label-68236' class=' answer'><span>both A and B<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-82' style=';'><div id='questionWrap-82'  class='   watupro-question-id-16480'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>82. <\/span>Smart Guys Securities Corporation has given a workable bid to Better Guys Securities Corporation. If market conditions change, Smart Guys may:<\/div><input type='hidden' name='question_id[]' id='qID_82' value='16480' \/><input type='hidden' id='answerType16480' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16480[]' id='answer-id-68237' class='answer   answerof-16480 ' value='68237'   \/><label for='answer-id-68237' id='answer-label-68237' class=' answer'><span>not change the bid<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16480[]' id='answer-id-68238' class='answer   answerof-16480 ' value='68238'   \/><label for='answer-id-68238' id='answer-label-68238' class=' answer'><span>not change the bid unless first notifying the other dealer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16480[]' id='answer-id-68239' class='answer   answerof-16480 ' value='68239'   \/><label for='answer-id-68239' id='answer-label-68239' class=' answer'><span>change the bid only with prior approval of the other dealer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16480[]' id='answer-id-68240' class='answer   answerof-16480 ' value='68240'   \/><label for='answer-id-68240' id='answer-label-68240' class=' answer'><span>change the bid<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-83' style=';'><div id='questionWrap-83'  class='   watupro-question-id-16481'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>83. <\/span>Municipalities are most likely to issue notes for which of the following purposes?<\/div><input type='hidden' name='question_id[]' id='qID_83' value='16481' \/><input type='hidden' id='answerType16481' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16481[]' id='answer-id-68241' class='answer   answerof-16481 ' value='68241'   \/><label for='answer-id-68241' id='answer-label-68241' class=' answer'><span>short-term cash needs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16481[]' id='answer-id-68242' class='answer   answerof-16481 ' value='68242'   \/><label for='answer-id-68242' id='answer-label-68242' class=' answer'><span>federal income tax payments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16481[]' id='answer-id-68243' class='answer   answerof-16481 ' value='68243'   \/><label for='answer-id-68243' id='answer-label-68243' class=' answer'><span>repairs to infrastructure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16481[]' id='answer-id-68244' class='answer   answerof-16481 ' value='68244'   \/><label for='answer-id-68244' id='answer-label-68244' class=' answer'><span>long-term financing<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-84' style=';'><div id='questionWrap-84'  class='   watupro-question-id-16482'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>84. <\/span>A revenue bond is issued by a state agency. The state legislature is granted authority to apportion money to support the debt services if necessary, but is not legally obligated to do so. <br \/>\r<br>What type of bond is this?<\/div><input type='hidden' name='question_id[]' id='qID_84' value='16482' \/><input type='hidden' id='answerType16482' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16482[]' id='answer-id-68245' class='answer   answerof-16482 ' value='68245'   \/><label for='answer-id-68245' id='answer-label-68245' class=' answer'><span>limited tax<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16482[]' id='answer-id-68246' class='answer   answerof-16482 ' value='68246'   \/><label for='answer-id-68246' id='answer-label-68246' class=' answer'><span>double-barreled<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16482[]' id='answer-id-68247' class='answer   answerof-16482 ' value='68247'   \/><label for='answer-id-68247' id='answer-label-68247' class=' answer'><span>Series 8<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16482[]' id='answer-id-68248' class='answer   answerof-16482 ' value='68248'   \/><label for='answer-id-68248' id='answer-label-68248' class=' answer'><span>moral obligation<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-85' style=';'><div id='questionWrap-85'  class='   watupro-question-id-16483'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>85. <\/span>A group net order is one that benefits municipal syndicate members:<\/div><input type='hidden' name='question_id[]' id='qID_85' value='16483' \/><input type='hidden' id='answerType16483' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16483[]' id='answer-id-68249' class='answer   answerof-16483 ' value='68249'   \/><label for='answer-id-68249' id='answer-label-68249' class=' answer'><span>equally<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16483[]' id='answer-id-68250' class='answer   answerof-16483 ' value='68250'   \/><label for='answer-id-68250' id='answer-label-68250' class=' answer'><span>according to their percentage participation in the account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16483[]' id='answer-id-68251' class='answer   answerof-16483 ' value='68251'   \/><label for='answer-id-68251' id='answer-label-68251' class=' answer'><span>according to the number of designated orders they\u2019ve received<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16483[]' id='answer-id-68252' class='answer   answerof-16483 ' value='68252'   \/><label for='answer-id-68252' id='answer-label-68252' class=' answer'><span>according to the number of presale orders they\u2019ve received<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-86' style=';'><div id='questionWrap-86'  class='   watupro-question-id-16484'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>86. <\/span>A syndicate manager has just been informed that its bid has been accepted and all syndicate members are duly notified. Public information on the award will be most quickly available from:<\/div><input type='hidden' name='question_id[]' id='qID_86' value='16484' \/><input type='hidden' id='answerType16484' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16484[]' id='answer-id-68253' class='answer   answerof-16484 ' value='68253'   \/><label for='answer-id-68253' id='answer-label-68253' class=' answer'><span>the Blue List<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16484[]' id='answer-id-68254' class='answer   answerof-16484 ' value='68254'   \/><label for='answer-id-68254' id='answer-label-68254' class=' answer'><span>the daily Bond Buyer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16484[]' id='answer-id-68255' class='answer   answerof-16484 ' value='68255'   \/><label for='answer-id-68255' id='answer-label-68255' class=' answer'><span>the Wall Street Journal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16484[]' id='answer-id-68256' class='answer   answerof-16484 ' value='68256'   \/><label for='answer-id-68256' id='answer-label-68256' class=' answer'><span>Munifacts<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-87' style=';'><div id='questionWrap-87'  class='   watupro-question-id-16485'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>87. <\/span>Under what circumstances may a municipal securities dealer guarantee a customer against loss in market value of bonds?<\/div><input type='hidden' name='question_id[]' id='qID_87' value='16485' \/><input type='hidden' id='answerType16485' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16485[]' id='answer-id-68257' class='answer   answerof-16485 ' value='68257'   \/><label for='answer-id-68257' id='answer-label-68257' class=' answer'><span>under no circumstances<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16485[]' id='answer-id-68258' class='answer   answerof-16485 ' value='68258'   \/><label for='answer-id-68258' id='answer-label-68258' class=' answer'><span>only if the agreement is in writing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16485[]' id='answer-id-68259' class='answer   answerof-16485 ' value='68259'   \/><label for='answer-id-68259' id='answer-label-68259' class=' answer'><span>only if the bonds are rated AAA or Aaa<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16485[]' id='answer-id-68260' class='answer   answerof-16485 ' value='68260'   \/><label for='answer-id-68260' id='answer-label-68260' class=' answer'><span>only if the bonds are insured<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-88' style=';'><div id='questionWrap-88'  class='   watupro-question-id-16486'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>88. <\/span>When pricing callable municipal bonds, the \u201cprice to call\u201d is based upon which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_88' value='16486' \/><input type='hidden' id='answerType16486' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16486[]' id='answer-id-68261' class='answer   answerof-16486 ' value='68261'   \/><label for='answer-id-68261' id='answer-label-68261' class=' answer'><span>in-whole calls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16486[]' id='answer-id-68262' class='answer   answerof-16486 ' value='68262'   \/><label for='answer-id-68262' id='answer-label-68262' class=' answer'><span>partial calls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16486[]' id='answer-id-68263' class='answer   answerof-16486 ' value='68263'   \/><label for='answer-id-68263' id='answer-label-68263' class=' answer'><span>sinking fund calls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16486[]' id='answer-id-68264' class='answer   answerof-16486 ' value='68264'   \/><label for='answer-id-68264' id='answer-label-68264' class=' answer'><span>catastrophe calls<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-89' style=';'><div id='questionWrap-89'  class='   watupro-question-id-16487'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>89. <\/span>Which of the information below does not appear in the official notice of sale?<\/div><input type='hidden' name='question_id[]' id='qID_89' value='16487' \/><input type='hidden' id='answerType16487' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16487[]' id='answer-id-68265' class='answer   answerof-16487 ' value='68265'   \/><label for='answer-id-68265' id='answer-label-68265' class=' answer'><span>the type of bond<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16487[]' id='answer-id-68266' class='answer   answerof-16487 ' value='68266'   \/><label for='answer-id-68266' id='answer-label-68266' class=' answer'><span>the amount of required good faith check<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16487[]' id='answer-id-68267' class='answer   answerof-16487 ' value='68267'   \/><label for='answer-id-68267' id='answer-label-68267' class=' answer'><span>the names of underwriting syndicate members<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16487[]' id='answer-id-68268' class='answer   answerof-16487 ' value='68268'   \/><label for='answer-id-68268' id='answer-label-68268' class=' answer'><span>the method and place of settlement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-90' style=';'><div id='questionWrap-90'  class='   watupro-question-id-16488'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>90. <\/span>Bubba buys a municipal bond at 102 and holds it ten years to maturity. <br \/>\r<br>For tax purposes, how is that premium treated?<\/div><input type='hidden' name='question_id[]' id='qID_90' value='16488' \/><input type='hidden' id='answerType16488' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16488[]' id='answer-id-68269' class='answer   answerof-16488 ' value='68269'   \/><label for='answer-id-68269' id='answer-label-68269' class=' answer'><span>recorded as a long-term capital loss<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16488[]' id='answer-id-68270' class='answer   answerof-16488 ' value='68270'   \/><label for='answer-id-68270' id='answer-label-68270' class=' answer'><span>an ordinary loss taken as a deduction from taxable income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16488[]' id='answer-id-68271' class='answer   answerof-16488 ' value='68271'   \/><label for='answer-id-68271' id='answer-label-68271' class=' answer'><span>amortized over the life of the bond resulting in no loss at maturity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16488[]' id='answer-id-68272' class='answer   answerof-16488 ' value='68272'   \/><label for='answer-id-68272' id='answer-label-68272' class=' answer'><span>carried forward as a premium loss applied against profits realized on future municipal securities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-91' style=';'><div id='questionWrap-91'  class='   watupro-question-id-16489'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>91. <\/span>Bubba buys a ten-year municipal and at 102 and sells it five years later at 101. <br \/>\r<br>What is tax treatment?<\/div><input type='hidden' name='question_id[]' id='qID_91' value='16489' \/><input type='hidden' id='answerType16489' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16489[]' id='answer-id-68273' class='answer   answerof-16489 ' value='68273'   \/><label for='answer-id-68273' id='answer-label-68273' class=' answer'><span>a $10 long-term capital loss is realized<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16489[]' id='answer-id-68274' class='answer   answerof-16489 ' value='68274'   \/><label for='answer-id-68274' id='answer-label-68274' class=' answer'><span>the $10 loss is applied as a reduction against ordinary income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16489[]' id='answer-id-68275' class='answer   answerof-16489 ' value='68275'   \/><label for='answer-id-68275' id='answer-label-68275' class=' answer'><span>no capital loss or income deduction is realized<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16489[]' id='answer-id-68276' class='answer   answerof-16489 ' value='68276'   \/><label for='answer-id-68276' id='answer-label-68276' class=' answer'><span>the $10 loss is applied against future profits in municipal securities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-92' style=';'><div id='questionWrap-92'  class='   watupro-question-id-16490'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>92. <\/span>Which of the following municipal securities carries the full faith and credit of the US government for payment of interest and principal if the issuer\u2019s funds are insufficient?<\/div><input type='hidden' name='question_id[]' id='qID_92' value='16490' \/><input type='hidden' id='answerType16490' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16490[]' id='answer-id-68277' class='answer   answerof-16490 ' value='68277'   \/><label for='answer-id-68277' id='answer-label-68277' class=' answer'><span>general obligation bonds issued municipalities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16490[]' id='answer-id-68278' class='answer   answerof-16490 ' value='68278'   \/><label for='answer-id-68278' id='answer-label-68278' class=' answer'><span>special tax bonds issued by municipalities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16490[]' id='answer-id-68279' class='answer   answerof-16490 ' value='68279'   \/><label for='answer-id-68279' id='answer-label-68279' class=' answer'><span>revenue bonds issued by municipal port authorities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16490[]' id='answer-id-68280' class='answer   answerof-16490 ' value='68280'   \/><label for='answer-id-68280' id='answer-label-68280' class=' answer'><span>new housing authority bonds issued by a public housing authority<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-93' style=';'><div id='questionWrap-93'  class='   watupro-question-id-16491'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>93. <\/span>Bubba buys a municipal bond at a discount and holds it to maturity. <br \/>\r<br>Which of the following is true?<\/div><input type='hidden' name='question_id[]' id='qID_93' value='16491' \/><input type='hidden' id='answerType16491' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16491[]' id='answer-id-68281' class='answer   answerof-16491 ' value='68281'   \/><label for='answer-id-68281' id='answer-label-68281' class=' answer'><span>interest is taxable as ordinary income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16491[]' id='answer-id-68282' class='answer   answerof-16491 ' value='68282'   \/><label for='answer-id-68282' id='answer-label-68282' class=' answer'><span>the capital gain is tax exempt<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16491[]' id='answer-id-68283' class='answer   answerof-16491 ' value='68283'   \/><label for='answer-id-68283' id='answer-label-68283' class=' answer'><span>interest is tax exempt, but the capital gain is taxable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16491[]' id='answer-id-68284' class='answer   answerof-16491 ' value='68284'   \/><label for='answer-id-68284' id='answer-label-68284' class=' answer'><span>the capital gain is tax exempt, but the interest is taxable as ordinary income<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-94' style=';'><div id='questionWrap-94'  class='   watupro-question-id-16492'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>94. <\/span>Prospective bidders for a municipal bond being issued should consult what document for relevant procedures?<\/div><input type='hidden' name='question_id[]' id='qID_94' value='16492' \/><input type='hidden' id='answerType16492' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16492[]' id='answer-id-68285' class='answer   answerof-16492 ' value='68285'   \/><label for='answer-id-68285' id='answer-label-68285' class=' answer'><span>the Eastern account agreement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16492[]' id='answer-id-68286' class='answer   answerof-16492 ' value='68286'   \/><label for='answer-id-68286' id='answer-label-68286' class=' answer'><span>the official notice of sale<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16492[]' id='answer-id-68287' class='answer   answerof-16492 ' value='68287'   \/><label for='answer-id-68287' id='answer-label-68287' class=' answer'><span>the offering circular<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16492[]' id='answer-id-68288' class='answer   answerof-16492 ' value='68288'   \/><label for='answer-id-68288' id='answer-label-68288' class=' answer'><span>the SEC Registration Statement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-95' style=';'><div id='questionWrap-95'  class='   watupro-question-id-16493'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>95. <\/span>Which of the following does not appear in the official notice of sale?<\/div><input type='hidden' name='question_id[]' id='qID_95' value='16493' \/><input type='hidden' id='answerType16493' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16493[]' id='answer-id-68289' class='answer   answerof-16493 ' value='68289'   \/><label for='answer-id-68289' id='answer-label-68289' class=' answer'><span>method and place of settlement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16493[]' id='answer-id-68290' class='answer   answerof-16493 ' value='68290'   \/><label for='answer-id-68290' id='answer-label-68290' class=' answer'><span>denominations and registration privileges<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16493[]' id='answer-id-68291' class='answer   answerof-16493 ' value='68291'   \/><label for='answer-id-68291' id='answer-label-68291' class=' answer'><span>an offering scale of serial maturates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16493[]' id='answer-id-68292' class='answer   answerof-16493 ' value='68292'   \/><label for='answer-id-68292' id='answer-label-68292' class=' answer'><span>amount of good faith check required<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-96' style=';'><div id='questionWrap-96'  class='   watupro-question-id-16494'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>96. <\/span>Which of the following does not appear in a municipal syndicate letter to underwriters?<\/div><input type='hidden' name='question_id[]' id='qID_96' value='16494' \/><input type='hidden' id='answerType16494' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16494[]' id='answer-id-68293' class='answer   answerof-16494 ' value='68293'   \/><label for='answer-id-68293' id='answer-label-68293' class=' answer'><span>the specific bid and offering terms of the issue<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16494[]' id='answer-id-68294' class='answer   answerof-16494 ' value='68294'   \/><label for='answer-id-68294' id='answer-label-68294' class=' answer'><span>the amount of each member\u2019s participation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16494[]' id='answer-id-68295' class='answer   answerof-16494 ' value='68295'   \/><label for='answer-id-68295' id='answer-label-68295' class=' answer'><span>the extent of the manager\u2019s authority in directing the offering<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16494[]' id='answer-id-68296' class='answer   answerof-16494 ' value='68296'   \/><label for='answer-id-68296' id='answer-label-68296' class=' answer'><span>the duration of the syndicate account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-97' style=';'><div id='questionWrap-97'  class='   watupro-question-id-16495'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>97. <\/span>Which of the following sources provides news of prospective municipal securities sales to underwriters?<\/div><input type='hidden' name='question_id[]' id='qID_97' value='16495' \/><input type='hidden' id='answerType16495' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16495[]' id='answer-id-68297' class='answer   answerof-16495 ' value='68297'   \/><label for='answer-id-68297' id='answer-label-68297' class=' answer'><span>the Blue List<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16495[]' id='answer-id-68298' class='answer   answerof-16495 ' value='68298'   \/><label for='answer-id-68298' id='answer-label-68298' class=' answer'><span>the daily Bond Buyer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16495[]' id='answer-id-68299' class='answer   answerof-16495 ' value='68299'   \/><label for='answer-id-68299' id='answer-label-68299' class=' answer'><span>the SEC News Digest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16495[]' id='answer-id-68300' class='answer   answerof-16495 ' value='68300'   \/><label for='answer-id-68300' id='answer-label-68300' class=' answer'><span>The Wall Street Journal<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-98' style=';'><div id='questionWrap-98'  class='   watupro-question-id-16496'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>98. <\/span>Under a leaseback arrangement used to finance construction of local schools, who is the issuer of the municipal bonds?<\/div><input type='hidden' name='question_id[]' id='qID_98' value='16496' \/><input type='hidden' id='answerType16496' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16496[]' id='answer-id-68301' class='answer   answerof-16496 ' value='68301'   \/><label for='answer-id-68301' id='answer-label-68301' class=' answer'><span>the state in which the schools are located<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16496[]' id='answer-id-68302' class='answer   answerof-16496 ' value='68302'   \/><label for='answer-id-68302' id='answer-label-68302' class=' answer'><span>the local school district<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16496[]' id='answer-id-68303' class='answer   answerof-16496 ' value='68303'   \/><label for='answer-id-68303' id='answer-label-68303' class=' answer'><span>a legal authority created for this purpose<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16496[]' id='answer-id-68304' class='answer   answerof-16496 ' value='68304'   \/><label for='answer-id-68304' id='answer-label-68304' class=' answer'><span>a public housing authority commissioned by the federal government<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-99' style=';'><div id='questionWrap-99'  class='   watupro-question-id-16497'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>99. <\/span>Who obtains and pays the municipal bond attorney rendering a legal opinion about the validity of the bond issue?<\/div><input type='hidden' name='question_id[]' id='qID_99' value='16497' \/><input type='hidden' id='answerType16497' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16497[]' id='answer-id-68305' class='answer   answerof-16497 ' value='68305'   \/><label for='answer-id-68305' id='answer-label-68305' class=' answer'><span>the purchaser of the bonds<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16497[]' id='answer-id-68306' class='answer   answerof-16497 ' value='68306'   \/><label for='answer-id-68306' id='answer-label-68306' class=' answer'><span>the underwriter<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16497[]' id='answer-id-68307' class='answer   answerof-16497 ' value='68307'   \/><label for='answer-id-68307' id='answer-label-68307' class=' answer'><span>the issuing municipality<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-16497[]' id='answer-id-68308' class='answer   answerof-16497 ' value='68308'   \/><label for='answer-id-68308' id='answer-label-68308' class=' answer'><span>the municipality\u2019s financial adviser<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-100'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons655\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"655\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-03 03:17:08\" \/>\n\t<input type=\"hidden\" name=\"start_timestamp\" id=\"startTimeStamp\" value=\"1777778228\" \/>\n\t<input type=\"hidden\" name=\"question_ids\" value=\"\" \/>\n\t<input type=\"hidden\" name=\"watupro_questions\" value=\"16399:67913,67914,67915,67916 | 16400:67917,67918,67919,67920 | 16401:67921,67922,67923,67924 | 16402:67925,67926,67927,67928 | 16403:67929,67930,67931,67932 | 16404:67933,67934,67935,67936 | 16405:67937,67938,67939,67940 | 16406:67941,67942,67943,67944 | 16407:67945,67946,67947,67948 | 16408:67949,67950,67951,67952 | 16409:67953,67954,67955,67956 | 16410:67957,67958,67959,67960 | 16411:67961,67962,67963,67964 | 16412:67965,67966,67967,67968 | 16413:67969,67970,67971,67972 | 16414:67973,67974,67975,67976 | 16415:67977,67978,67979,67980 | 16416:67981,67982,67983,67984 | 16417:67985,67986,67987,67988 | 16418:67989,67990,67991,67992 | 16419:67993,67994,67995,67996 | 16420:67997,67998,67999,68000 | 16421:68001,68002,68003,68004 | 16422:68005,68006,68007,68008 | 16423:68009,68010,68011,68012 | 16424:68013,68014,68015,68016 | 16425:68017,68018,68019,68020 | 16426:68021,68022,68023,68024 | 16427:68025,68026,68027,68028 | 16428:68029,68030,68031,68032 | 16429:68033,68034,68035,68036 | 16430:68037,68038,68039,68040 | 16431:68041,68042,68043,68044 | 16432:68045,68046,68047,68048 | 16433:68049,68050,68051,68052 | 16434:68053,68054,68055,68056 | 16435:68057,68058,68059,68060 | 16436:68061,68062,68063,68064 | 16437:68065,68066,68067,68068 | 16438:68069,68070,68071,68072 | 16439:68073,68074,68075,68076 | 16440:68077,68078,68079,68080 | 16441:68081,68082,68083,68084 | 16442:68085,68086,68087,68088 | 16443:68089,68090,68091,68092 | 16444:68093,68094,68095,68096 | 16445:68097,68098,68099,68100 | 16446:68101,68102,68103,68104 | 16447:68105,68106,68107,68108 | 16448:68109,68110,68111,68112 | 16449:68113,68114,68115,68116 | 16450:68117,68118,68119,68120 | 16451:68121,68122,68123,68124 | 16452:68125,68126,68127,68128 | 16453:68129,68130,68131,68132 | 16454:68133,68134,68135,68136 | 16455:68137,68138,68139,68140 | 16456:68141,68142,68143,68144 | 16457:68145,68146,68147,68148 | 16458:68149,68150,68151,68152 | 16459:68153,68154,68155,68156 | 16460:68157,68158,68159,68160 | 16461:68161,68162,68163,68164 | 16462:68165,68166,68167,68168 | 16463:68169,68170,68171,68172 | 16464:68173,68174,68175,68176 | 16465:68177,68178,68179,68180 | 16466:68181,68182,68183,68184 | 16467:68185,68186,68187,68188 | 16468:68189,68190,68191,68192 | 16469:68193,68194,68195,68196 | 16470:68197,68198,68199,68200 | 16471:68201,68202,68203,68204 | 16472:68205,68206,68207,68208 | 16473:68209,68210,68211,68212 | 16474:68213,68214,68215,68216 | 16475:68217,68218,68219,68220 | 16476:68221,68222,68223,68224 | 16477:68225,68226,68227,68228 | 16478:68229,68230,68231,68232 | 16479:68233,68234,68235,68236 | 16480:68237,68238,68239,68240 | 16481:68241,68242,68243,68244 | 16482:68245,68246,68247,68248 | 16483:68249,68250,68251,68252 | 16484:68253,68254,68255,68256 | 16485:68257,68258,68259,68260 | 16486:68261,68262,68263,68264 | 16487:68265,68266,68267,68268 | 16488:68269,68270,68271,68272 | 16489:68273,68274,68275,68276 | 16490:68277,68278,68279,68280 | 16491:68281,68282,68283,68284 | 16492:68285,68286,68287,68288 | 16493:68289,68290,68291,68292 | 16494:68293,68294,68295,68296 | 16495:68297,68298,68299,68300 | 16496:68301,68302,68303,68304 | 16497:68305,68306,68307,68308\" \/>\n\t<input type=\"hidden\" name=\"no_ajax\" value=\"0\">\t\t\t<\/form>\n\t<p>&nbsp;<\/p>\n<\/div>\n\n<script type=\"text\/javascript\">\n\/\/jQuery(document).ready(function(){\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \t\nvar question_ids = \"16399,16400,16401,16402,16403,16404,16405,16406,16407,16408,16409,16410,16411,16412,16413,16414,16415,16416,16417,16418,16419,16420,16421,16422,16423,16424,16425,16426,16427,16428,16429,16430,16431,16432,16433,16434,16435,16436,16437,16438,16439,16440,16441,16442,16443,16444,16445,16446,16447,16448,16449,16450,16451,16452,16453,16454,16455,16456,16457,16458,16459,16460,16461,16462,16463,16464,16465,16466,16467,16468,16469,16470,16471,16472,16473,16474,16475,16476,16477,16478,16479,16480,16481,16482,16483,16484,16485,16486,16487,16488,16489,16490,16491,16492,16493,16494,16495,16496,16497\";\nWatuPROSettings[655] = {};\nWatuPRO.qArr = question_ids.split(',');\nWatuPRO.exam_id = 655;\t    \nWatuPRO.post_id = 1636;\nWatuPRO.store_progress = 0;\nWatuPRO.curCatPage = 1;\nWatuPRO.requiredIDs=\"0\".split(\",\");\nWatuPRO.hAppID = \"0.57067900 1777778228\";\nvar url = \"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/show_exam.php\";\nWatuPRO.examMode = 1;\nWatuPRO.siteURL=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-admin\/admin-ajax.php\";\nWatuPRO.emailIsNotRequired = 0;\nWatuPROIntel.init(655);\nWatuPRO.inCategoryPages=1;});    \t \n<\/script>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Securities Representative Qualification Examination (GS), Series 7 exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative, including sales of corporate securities, municipal securities, investment company securities, variable annuities, direct participation programs, options and government securities. It is not the same as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[619,4176],"tags":[4177,4178,4180,4179],"class_list":["post-1636","post","type-post","status-publish","format-standard","hentry","category-financial-industry-regulatory-authority","category-gs-certification","tag-series-7","tag-series-7-dumps","tag-series-7-exam-prep","tag-series-7-study-guide"],"_links":{"self":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/1636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/comments?post=1636"}],"version-history":[{"count":2,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/1636\/revisions"}],"predecessor-version":[{"id":3018,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/1636\/revisions\/3018"}],"wp:attachment":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/media?parent=1636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/categories?post=1636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/tags?post=1636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}