FINRA SERIES 7 Real Exam 2026 | Complete
Questions and Correct Answers | Verified
Answers | Just Released
Miriam, a newly married customer, provides your office with an official copy of
her marriage certificate and requests to change the name on her account. Who
could authorize this change for her?
A. Her representative
B. Any representative
C. A designated principal
D. Clerical staff ---------CORRECT ANSWER-----------------C. A designated principal
When a customer complaint involving theft is made against an associated person
of the firm, which of the following is true?
A. The firm needs to report the claim to FINRA within 30 days of the earlier of the
date that the firm or the date that the registered representative found out about
the event.
B. The firm only needs to report the claim if it involves damages of over $15,000.
C. The firm needs to report the claim to FINRA within 30 days of when it found
out about the event.
,D. The firm needs to report the claim to FINRA as soon as it finds out about the
event. ---------CORRECT ANSWER-----------------C. The firm needs to report the claim
to FINRA within 30 days of when it found out about the event.
Irving Investor begins to notice that his broker, Buddy L. Weill, has begun placing
an inordinate number of trades in his account lately, and his account value hasn't
risen as a result. Buddy could be:
A. front-running
B. selling away
C. selling dividends
D. churning ---------CORRECT ANSWER-----------------D. churning
Who regulates the extension of margin for securities?
A. FINRA
B. FRB
C. Exchanges
D. All of the other choices ---------CORRECT ANSWER-----------------D. All of the
other choices
,For Municipal bonds, the Final Official Statement:
A. Contains no information about the price of the issue or interest rates
B. Must be submitted by the underwriter to EMMA
C. May be identical to the preliminary official statement if no changes are made
after review
D. Cannot be amended ---------CORRECT ANSWER-----------------B. Must be
submitted by the underwriter to EMMA
In a/an _____________underwriting, the underwriter sells all the shares in the
offering or the offering is voided.
A. Mini-max
B. All or none
C. Best efforts
D. Firm commitment ---------CORRECT ANSWER-----------------B. All or none
The MSRB operates EMMA, which:
A. Requires underwriters to submit municipal security information, including
official disclosure documents, for use by the general public
, B. Serves as a securities depository where securities are deposited and held for
ease of transfer between owners
C. Serves as an electronic database to provide information to regulators like
FINRA
D. Requires issuers to submit new issue information for use by other market
participants ---------CORRECT ANSWER-----------------A. Requires underwriters to
submit municipal security information, including official disclosure documents, for
use by the general public
A customer has the following position:
Long XYZ Jan 50 call @ 6
What do you know is true about the position?
A. It is out-of-the money
B. It is in-the-money
C. It is bullish
D. It is bearish ---------CORRECT ANSWER-----------------C. It is bullish
Which of the following is most suitable for an investor who wants both capital
appreciation and regular income?
A. A balanced fund
Questions and Correct Answers | Verified
Answers | Just Released
Miriam, a newly married customer, provides your office with an official copy of
her marriage certificate and requests to change the name on her account. Who
could authorize this change for her?
A. Her representative
B. Any representative
C. A designated principal
D. Clerical staff ---------CORRECT ANSWER-----------------C. A designated principal
When a customer complaint involving theft is made against an associated person
of the firm, which of the following is true?
A. The firm needs to report the claim to FINRA within 30 days of the earlier of the
date that the firm or the date that the registered representative found out about
the event.
B. The firm only needs to report the claim if it involves damages of over $15,000.
C. The firm needs to report the claim to FINRA within 30 days of when it found
out about the event.
,D. The firm needs to report the claim to FINRA as soon as it finds out about the
event. ---------CORRECT ANSWER-----------------C. The firm needs to report the claim
to FINRA within 30 days of when it found out about the event.
Irving Investor begins to notice that his broker, Buddy L. Weill, has begun placing
an inordinate number of trades in his account lately, and his account value hasn't
risen as a result. Buddy could be:
A. front-running
B. selling away
C. selling dividends
D. churning ---------CORRECT ANSWER-----------------D. churning
Who regulates the extension of margin for securities?
A. FINRA
B. FRB
C. Exchanges
D. All of the other choices ---------CORRECT ANSWER-----------------D. All of the
other choices
,For Municipal bonds, the Final Official Statement:
A. Contains no information about the price of the issue or interest rates
B. Must be submitted by the underwriter to EMMA
C. May be identical to the preliminary official statement if no changes are made
after review
D. Cannot be amended ---------CORRECT ANSWER-----------------B. Must be
submitted by the underwriter to EMMA
In a/an _____________underwriting, the underwriter sells all the shares in the
offering or the offering is voided.
A. Mini-max
B. All or none
C. Best efforts
D. Firm commitment ---------CORRECT ANSWER-----------------B. All or none
The MSRB operates EMMA, which:
A. Requires underwriters to submit municipal security information, including
official disclosure documents, for use by the general public
, B. Serves as a securities depository where securities are deposited and held for
ease of transfer between owners
C. Serves as an electronic database to provide information to regulators like
FINRA
D. Requires issuers to submit new issue information for use by other market
participants ---------CORRECT ANSWER-----------------A. Requires underwriters to
submit municipal security information, including official disclosure documents, for
use by the general public
A customer has the following position:
Long XYZ Jan 50 call @ 6
What do you know is true about the position?
A. It is out-of-the money
B. It is in-the-money
C. It is bullish
D. It is bearish ---------CORRECT ANSWER-----------------C. It is bullish
Which of the following is most suitable for an investor who wants both capital
appreciation and regular income?
A. A balanced fund
