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General Securities Representative Series-7 Updated Exam

Page: 12 / 15
Total 400 questions
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General Securities Representative Qualification Examination (GS) Questions and Answers

Question 45

Which of the following must be true in order for an offering to qualify as an intrastate offering under Rule 147?

Options:

A.

80% of the proceeds of the offering must be used in that state

B.

80% of the corporation’s assets must be located in that state

C.

80% of the corporation’s revenue must be earned in that state

D.

all of the above are required

Question 46

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?

Options:

A.

75%

B.

100%

C.

120%

D.

150%

Question 47

Which of the following are not flat rate taxes?

Options:

A.

excise tax

B.

gasoline tax

C.

gift tax

D.

general income tax

Question 48

Regulation T is set at 50%. Bubba’s account contains long positions in the following securities with the prices listed:

100 ABC $30

200 XYZ $70

200 QBB $40

200 KKK $25

Total market value = $30,000

Debit balance in the account = $12,000

Net equity balance of the account = $18,000

Bubba wants to buy 100 shares of DUM at $30 per share and 100 shares of OUT at $120. How much how much value of additional securities must Bubba deposit in lieu of depositing cash?

Options:

A.

$3,000

B.

$6,000

C.

$9,000

D.

$15,000

Page: 12 / 15
Total 400 questions
Get Series-7 Full Access Download Series-7 PDF