MASTERY EXAM 1 UPDATED ACTUAL Questions and CORRECT Answers

MASTERY EXAM 1 UPDATED ACTUAL Questions and CORRECT Answers

An open-end management company is a:




A.
mutual fund



B. A.
publicly traded fund mutual fund



C.
fixed unit investment trust



D.
real estate investment trust
To impose the maximum sales charge, under FINRA rules,
mutual funds must offer investors all of the following
benefits EXCEPT:


B.
Plan Completion Insurance
A.
Breakpoints



B.

, Plan Completion Insurance



C.
Rights of Accumulation



D.
Letter of Intent
A closed-end management company is a:




A.
mutual fund



B. B.
publicly traded fund publicly traded fund



C.
fixed unit investment trust



D.
participating unit investment trust





,Which of the following statements are TRUE regarding
Treasury Stock?
I

Treasury Stock receives dividends
II

Treasury Stock votes
III

Treasury Stock reduces the number of shares outstand-
ing
IV

Treasury Stock purchases are used to increase reported
Earnings Per Share B.
III and IV



A.
I and II



B.
III and IV



C.
II, III, IV




, D.
I, II, III, IV
customer buys 10 ABC Corporation 10% debentures, M
'45, at 93 on Tuesday, May 10th in a regular way trade.
The interest payment dates are March 1st and September
1st. The trade settles on:




A.
Wednesday, May 11th

B.
Thursday, May 12th
B.
Thursday, May 12th



C.
Friday, May 13th



D.
Monday, May 16th

Interest on a corporate bond accrues on a:




A.