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FINRA General Securities Representative Examination (GS) Sample Questions:
1. Bubba has a short margin account with a short market value of $22,000, a credit balance of $42,000, and
SMA of $500. What is the NYSE minimum equity maintenance for this account?
A) $5,500
B) $12,600
C) $6,000
D) $6,600
2. How often must Investment companies issue financial statements to shareholders?
A) annually
B) semi-annually
C) quarterly
D) monthly
3. Who obtains and pays the municipal bond attorney rendering a legal opinion about the validity of the bond
issue?
A) the underwriter
B) the purchaser of the bonds
C) the municipality's financial adviser
D) the issuing municipality
4. Regulation T is set at 50%. Bubba's account contains long positions in the following securities with the
prices listed
1 00 ABC $30
2 00 XYZ $70
2 00 QBB $40
2 00 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
additional money must be deposited?
A) $6,000
B) $4,500
C) $1,500
D) $7,000
5. A buy-in of a customer's sale transaction is mandated if the securities have not been received by the
broker/dealer within how many business days following the settlement date:
A) 10
B) 30
C) 5
D) 20
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: A |

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