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Q61. (Topic 5)
An entity that purchases and sells securities on its own behalf is acting as:
A. A broker
B. A dealer
C. An agent
D. A principal
Answer: B
Q62. (Topic 3)
Risk assessment may be:
A. Quantitative only
B. Qualitative only
C. Both A&B
D. Qualitative in general and quantitative in specific
Answer: C
Q63. (Topic 2)
___________ are investment securities that do not fall under one of the other types of securities. Examples of these are Type III securities including corporate bonds and municipal bonds.
A. Type II Securities
B. Type III Securities
C. Type I Securities
D. Type IV Securities
Answer: A
Q64. (Topic 1)
Which one of the following is an internal control component?
A. Compliance control
B. Control activities
C. Financial Reporting Controls
D. Communication channels and network
Answer: B
Q65. (Topic 3)
Strategic Risk if not properly controlled, understood or measured may result in: A. High Earnings volatility
B. Significant capital pressures
C. Withdrawal of loan portfolios by the customers
D. Only A&B
Answer: D
Q66. (Topic 4)
Insurance in law and economics, is a form of risk management primarily used to:
A. Hedge again risk of potential financial loss
B. Lock the risk of potential financial losses
C. Both the statements are one and the same
D. None of these
Answer: C
Q67. (Topic 5)
Individuals can invest in REITs:
A. By purchasing their shares directly on an open exchange
B. By investing in a mutual fund that specializes in public real estate
C. Both A&B
D. Either A or B; it depends
Answer: D
480. (Topic 5)
Overall “market risk” poses the greatest potential danger for investors in ____________.
A. Bonds funds
B. Hedge funds
C. Stock funds
D. Growth funds
Answer: C
Q68. (Topic 5)
_____________ funds may specialize in a particular industry segment, such as technology or consumer products stocks.
A. Index
B. Sector
C. Growth
D. Income
Answer: B
Q69. (Topic 5)
Annuities can be purchased through the following methods EXCEPT:
A. Single payment deferred
B. Periodic payment deferred
C. Immediate payment
D. Single payment accrued
Answer: D
Q70. (Topic 3)
Risks associated with compliance with laws and regulations may actually _________ impact ________ in ________. Choose the correct set.
A. Positively, agencies, long term
B. negatively, goals, short term
C. negatively, institutions, short term
D. None of these
Answer: B
Q71. (Topic 2)
Options are quoted daily in the newspapers. The listing provides the name of the underlying stock and:
A. Its closing price that day
B. The strike price of the option
C. Its closing price that day, the strike price of the option, the closing prices(premiums) of thecall and 3 put contracts trading closest to expiration
D. The closing prices (premiums) of the 3 call and 3 put contracts trading closest to expiration
Answer: C
Q72. (Topic 4)
Other asset categories are mentioned in:
A. Audited Balance sheet
B. Unaudited balance sheet
C. Balance sheet only when they are material
D. Other books of account
Answer: C
307. (Topic 4)
The types of accounts that bear interest include savings accounts, negotiable orders of withdrawal (NOW) accounts, and certificates of deposit. These interest bearing accounts are known as:
A. Interest bearing deposits/accounts
B. Time deposits
C. Both A & B
D. Due from balances
Answer: C
Q73. (Topic 2)
The interagency statement calls for these disclosures to be provided EXCEPT:
A. Orally during any sales presentation
B. Orally when investment advice concerning the non deposit investment products is provided
C. In advertisement and other promotional materials as specified in the interagency statement
D. None of these
Answer: D
Q74. (Topic 3)
Examples of illegal sales practices may be:
A. Misrepresentation occurs when agents make false or misleading statements in an attempt to encourage an individual to buy a policy. Agents are also forbidden from guaranteeing policy dividends.
B. Twisting occurs when an agent purposefully misguides an individual into canceling onepolicy and purchasing a new one
C. Rebating occurs when an agent agrees to give an individual a share of the commission as an incentive to buy a policy
D. All of these
Answer: D
Q75. (Topic 4)
__________ is a tool to transfer qualified investments from one account to another. In order to retain certain special tax treatments, funds may not be co-mingled with other types of assets, including other IRAS.
A. Rollover IRA
B. simple IRA
C. Conduit IRA
D. SEP IRA
Answer: C