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Exam (elaborations)
Series 7 General Securities Representative Exam 2026/2027 All- Inclusive Certification Study Guide: Extensive Practice Questions, Complete Test Bank Review, Detailed Knowledge Assessment, and Final Exam Prep Manual
A broker-dealer sells 500 shares to a customer from securities held in the firm’s own inventory. In what capacity is the broker-dealer acting? A. Agent B. Principal C. Trustee D. Transfer agent Correct Answer: B. Principal Rationale: A firm acts as principal when it buys from or sells to a customer using its own inventory. It may earn a markup or markdown in the transaction. An agent arranges a trade between parties and charges a commission. Trustees and transfer agents perform adm...
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Exam (elaborations)
Series 7 General Securities Representative Exam 2026/2027 The Definitive Study and Exam Prep Guide: Comprehensive Topic Review, Realistic Practice Questions, Complete Test Bank Mastery, and Advanced Preparation Manual
PopularA registered representative sends individualized investment information to 12 retail customers during a 30-day period. Assuming the communication is not made available to the general public, it would generally be classified as: A. Correspondence B. Retail communication C. Institutional communication D. Public appearance Correct Answer: A. Correspondence Rationale: Written or electronic communications sent to 25 or fewer retail investors within a 30-day period are generally treated as...
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