Download Investment Company and Variable Contracts Products Representative Qualification Examination (IR).Series 6.PassLeader.2019-02-23.325q.tqb
| Vendor: | FINRA |
| Exam Code: | Series 6 |
| Exam Name: | Investment Company and Variable Contracts Products Representative Qualification Examination (IR) |
| Date: | Feb 23, 2019 |
| File Size: | 2 MB |
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Demo Questions
Question 1
Which of the following statements about the over-the-counter market is true?
- Only penny stocks are traded in the over-the-counter market.
- Trades in the over-the-counter market are conducted via the auction process.
- Only bonds and other debt instruments are traded in the over-the-counter market.
- Stocks that are listed on exchange floors are also traded in the over-the-counter market.
Correct answer: D
Explanation:
Stocks that are listed on exchange floors are also traded in the over-the-counter market. The term “third market” refers to over-the-counter trading of listed stocks. All types of securities-stocks, bonds, options, warrants, rights-trade over the counter. The over-the-counter market is a negotiated market, not an auction market. Stocks that are listed on exchange floors are also traded in the over-the-counter market. The term “third market” refers to over-the-counter trading of listed stocks. All types of securities-stocks, bonds, options, warrants, rights-trade over the counter. The over-the-counter market is a negotiated market, not an auction market.
Question 2
Which of the following is not an auction market?
- NASDAQ
- NYSE
- CHX
- All of the above are auction markets
Correct answer: A
Explanation:
NASDAQ is not an auction market. NASDAQ is a computerized system of geographically dispersed securities’ dealers. As such, it is a negotiated market. The NYSE (New York Stock Exchange) and the CHX (Chicago Stock Exchange) are both auction markets. NASDAQ is not an auction market. NASDAQ is a computerized system of geographically dispersed securities’ dealers. As such, it is a negotiated market. The NYSE (New York Stock Exchange) and the CHX (Chicago Stock Exchange) are both auction markets.
Question 3
The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a:
- registered trader.
- specialist.
- floor broker.
- commission broker.
Correct answer: B
Explanation:
The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a specialist. The specialist is assigned stocks by the exchange and is a market maker in those stocks. A registered trader is a private individual who buys and sells on his own account only. Floor brokers and commission brokers execute trades for other investors. The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a specialist. The specialist is assigned stocks by the exchange and is a market maker in those stocks. A registered trader is a private individual who buys and sells on his own account only. Floor brokers and commission brokers execute trades for other investors.
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