Home > Series 7 Exam > Quizzes > Series 7 Exam: Rules and Regulations
Series 7 Exam: Rules and Regulations
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 0% • Most missed: “The return of securities previously accepted for delivery is called”
The Series 7 Exam (General Securities Representative Qualification Examination) is a 125-question, 3-hour 45-minute exam, requiring a 72% score, that tests knowledge of securities products, client suitability, and, heavilyFINRA rules and regulations. Candidates must be sponsored by a member firm and pass the Securities Industry Essentials (SIE) exam first.  Key FINRA Rules & Regulations Topics for Series 7 Registration Requirements (Rule 1210 & 1220): Candidates must be sponsored by a FINRA member firm. The Series 7 qualifies individuals to sell stocks, bonds, options, and municipal... Show more
Series 7 Exam: Rules and Regulations
Time left 00:00
25 Questions

1. Which TWO of the following are TRUE regarding a power of attorney?
A durable power of attorney cancels upon mental incompetence or death of the investor
A durable power of attorney only cancels upon death of the investor
A regular power of attorney cancels upon mental incompetence or death of the investor
A regular power of attorney only cancels upon the death of the investor
2. Corporate and partnership documents must be kept by a brokerage firm for
3. According to FINRA rules, complaints must be maintained on records of brokerage firms for at least
4. What is the settlement date for a corporate bond transaction?
5. What is the settlement date for U.S. government bond transactions?
6. Shelby Corporation would like to open a cash account at Lightning Broker-Dealer. In order for Shelby to open the account, it would need to send Lightning a copy of its
7. Vanderlay Corp. has just announced a 20-cent dividend to shareholders of record. If the record date is Friday, April 12th, when is the first day an investor can purchase the stock and not receive the dividend?
8. A husband and wife open up an account as joint with tenants in common. If the husband dies, what must be done with his portion of the account?
9. Broker-dealers, investment companies, and investment advisers must have written policies designed to protect customers’ records and information. This falls under:
10. What is the settlement date for a corporate bond transaction?
11. Investors are allowed to maintain stock or bond certificates in book entry form instead of receiving the actual certificates through
12. Mutual funds must send out account statements to investors at least
13. Which of the following are self-regulatory organizations?
FINRA
MSRB
SEC
NYSE
14. Which of the following are TRUE about arbitration?
Members may take non-members to arbitration
Non-members may take members to arbitration
Members may take members to arbitration
Decisions are final and binding
15. Broker-dealers, investment companies, and investment advisers must have written policies designed to protect customers’ records and information. This falls under:
16. Which of the following are subject to the FINRA 5 percent markup policy?
Principal transactions
Agency transactions
Riskless transactions
Proceeds transactions
17. Investors are allowed to maintain stock or bond certificates in book entry form instead of receiving the actual certificates through
18. Sheila is interested in purchasing 1,000 shares of DIM Corp. common stock. As her registered rep, you feel that the transaction is unsuitable for her. You may still take the order from her if
19. Bearer bonds must be delivered in denominations of
$1,000
$5,000
$10,000
$50,000
20. According to FINRA rules, what is the maximum amount of retail persons a brokerage firm may send promotions to in a 30-day period for the promotions to be considered correspondence?
21. According to FINRA rules, which TWO of the following are TRUE about ACATs?
When ACAT notices are received, firms have 1 business day to verify the customer’s instructions
When ACAT notices are received, firms have 3 business days to verify the customer’s instructions
Assets must be transferred within 3 business days after verification
Assets must be transferred within 4 business days after verification
22. The return of securities previously accepted for delivery is called
23. What is the minimum amount of assets an investor must have to establish a prime brokerage account?
24. A husband and wife open up an account as joint with tenants in common. If the husband dies, what must be done with his portion of the account?
25. What is the settlement date for U.S. government bond transactions?

⚡ Recently practiced quizzes in this topic
Live quiz activity
Series 7 Exam: Options Series 7 Exam: Underwriting Securities Series 7 Exam Review Questions Series 7 Exam Practice Questions Series 7 Exam: Municipal Bonds
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.