The questions for this exam were last updated on January 7, 2026
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When securities repurchased under repos commonly have a principal amount that differs from principal amount of the security originally sold under the agreement, is known as:
Select one option, then reveal solution.
Question No. 2
If a mutual fund has an NAV of $100 million, and investors own $10,000,000 of fund’s shares,the funds per share value will be:
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Question No. 3
I. Surrender Changes
II. Mortality and Expense risk change
III. Administrative Fees
IV. Underlying funds expenses
V. Fees charges for other features
These are the charges which investors pay when they invest in:
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Question No. 4
Which of the following is known as Secondary trend in Dow Theory?
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Question No. 5
The private pools can fall in which two categories:
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Question No. 6
Customer accounts: Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts. The procedures should be formalized in writing and in accordance with the rules and regulations of the appropriate regulatory authority. Ensure that daily customer positions and option exercises are in accordance with the limits established by the appropriate exchange. Verify that commissions generated by customer trades are properly calculated and posted to the general ledger.
Select one option, then reveal solution.
Question No. 7
The accumulation phase in annuities can last from as long as:
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Question No. 8
Which control includes the procedures for system design, including the acquisition of software packages, should encourage active participation by the accounting department and internal auditors?
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Question No. 9
Which of the following shows relationship between market yield and time to maturity?
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Question No. 10
The objective for the __________ strategy is similar to that of capital appreciation; namely, the investors want the portfolio to grow over time to meet a future need. Whereas the capital appreciation strategy seeks to do this primarily through capital gains, this strategy seeks to increase portfolio value by both capital gains and reinvesting current income.
Select one option, then reveal solution.
Question No. 11
Which of the following is the basic exchange rate in the economy?
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Question No. 12
Which of the following industry is sensitive to business cycle and price changes?
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Question No. 13
Which of the following tests is used to test the weak form of market efficiency?
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Question No. 14
Which of the following considers the size of the company and needs no adjustment for stock splits?
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Question No. 15
Call provisions are often part of ______________, but usually not bonds issued by ______________.