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Series-7 – General Securities Representative Qualification Examination (GS)

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Showing 7–9 of 15 questions

Question 7

Bubba buys a ten-year municipal and at 102 and sells it five years later at 101.

What is tax treatment?

Select an option, then click Submit answer.

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    a $10 long-term capital loss is realized
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    the $10 loss is applied as a reduction against ordinary income
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    no capital loss or income deduction is realized
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    the $10 loss is applied against future profits in municipal securities

Question 8

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:

Select an option, then click Submit answer.

  • ○

    the Blue List
  • ○

    the daily Bond Buyer
  • ○

    the Wall Street Journal
  • ○

    Munifacts
Question 9

What is the loan value on a call option held in a customer’s margin account?

Select an option, then click Submit answer.

  • ○

    0
  • ○

    50%
  • ○

    30%
  • ○

    the compliment of the FRB initial margin requirement for listed stocks