Create an account
all of the following regarding federal funds are true except...
fed funds are excess treasury reserves
which of the following is a characteristic of the interbank system?
it is affected by central bank intervention
what would be required in order to effect good delivery of a book-entry security?
contact the issuer's transfer agent
all of the following are true regarding municipal dollar bonds except...
they dont trade on a ytm basis
the obligations of which agency are backed by the full faith and credit of the gov't and pay monthly interest and principal
if an investor continually rolls over treasuries the result will be...
fluctuating returns but safety of principal
what information would appear on a "when, as, and if issued confirmation"?
principal or agent capacity
a customer has two identical bonds except for coupon - one is 8% and one is 9% - if rates change, which one's price changes more?
the 8% bond - lower yields are more sensitive to interest changes than higher yields
given two bonds that are identical in all ways except for yield, which one will be more sensitive to interest rate changes - higher yielding bonds or lower yielding bonds?
the lower yielding bonds
An unaffiliated investor wants to sell unregistered stock - the amount he may sell is based on his sales during the past___ days?
In a new municipal underwriting, the underwriters decide everything expect the...
length to maturity
all of the following may be used to pay the interest and principal on a municipal revenue bond except the...
a shelf registration under rule 415 allows for the distribution of securities by an issuer over a period of how long?
in a competitive underwriting of a municipal general obligation bond which of the following would a syndicate submitting a sealed bid on the offering first determine?
everything is included in the analysis of a municipality's net bonded debt except:
self-supporting revenue bonds
all of the following are exempt from registration except... (eurodollars, ADR, municipal securities, US gov't debt)
According to rule 144, when must form 144 be filed with the SEC?
concurrent with the placement of the sell order
a municipal securities dealer could obtain information regarding municipal bond offerings from all but the following? (munifacts wire, blue list, moody's quarterly handbook, broker's wire)
moody's quarterly handbook
Reg A offerings can only be made for (2 things)
5 million in one year, and only to residents in the state of the issuer
the following would not indicate a deterioration of creditworthiness -
increase in assessed valuation of properties (increase in tax rates would)
the credit analysis of a municipal airport revenue bond would include an examination of all of the following except... (competing facilities, overlapping debt, debt coverage ration, flow of funds)
which of the following would be a prohibited purchaser under the NASD freeriding and withholding rule?
a family member of a registered representative
Under MSRB rules, a municipal securities trader participating in a secondary market joint account would be prohibited from engaging in which of the following activities?
providing quotes indicating that more than one market exists for the securities in the joint account
an orde rthat must be filled in one or more attempts withing a designated period or canceled is a...
which of the following orders may not be left with the specialist on the floor of the NYSE
market not held
A bank qualfied municipal issue is...
a municipal bond issue that allows the bank to deduct 80% of its related interest carrying expense
a firm must keep track of all of the following regarding a seminar except...
the names of the people attending the seminar
an investor adviser would be permitted to effect transactions in which of the following accounts?
special omnibus account and a client account with trading authority given to the investment adviser
a client of a registered representative is the general partner in a private placement limited partnership and asks the RR for assistance in selling interest in the program. Which of the following statements is correct?
the RR may participate if the offering is cleared through the compliance department of the firm
S&P index options -- .1 = ? 1 point = ?
.1 = $10; 1 point = $100
1200 --> 1201 = $100 change in contract price
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