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Question 1

Bubba is buying a treasury bill. The discount he receives results in Bubba’s determination of:

Options :

A : face value

B : nominal yield

C : rate of return

D : yield to call

Answer: C

Question 2

Bubba Corporation has 3,500,000 shares of common stock outstanding and its trading

volume in the few weeks has been as follows:

Week 1 - 43,000

Week 2 - 30,900

Week 3 - 37,500

Week 4 - 42,600

Week 5 - 33,000 (the most recent week)

If an affiliated person wanted to liquidate some of his holding of 100,000 shares pursuant to

SEC Rule 144, how many shares could he sell?

Options :

A : 35,000

B : 36,000

C : 37,400

D : 38,500

Answer: B

Question 3

The expiration date of a listed option is:

Options :

A : the last day of the expiration month

B : the third Saturday of the expiration month

C : the Saturday following the third Friday of the expiration month

D : the third Friday of the expiration month

Answer: C

Question 4

Which of the following has the greatest risk?

Options :

A : a guaranteed corporate bond

B : a GNMA bond

C : a Series H bond

D : a treasury bill

Answer: A

Question 5

Convertible preferred stock has all of the following characteristics except:

Options :

A : a lower dividend rate than non-convertible preferred

B : a dilution of earnings if converted into common stock

C : a requirement for shareholders to always accept the call price when called

D : required dividend payments to shareholders before any dividends are paid to holders of common stock

Answer: C