FINRA Series7 Q&A - in .pdf

  • Series7 pdf
  • Exam Code: Series7
  • Exam Name: General Securities Representative Examination (GS)
  • Updated: Jun 07, 2026
  • Q & A: 400 Questions and Answers
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  • Q & A: 400 Questions and Answers
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  • Exam Code: Series7
  • Exam Name: General Securities Representative Examination (GS)
  • Updated: Jun 07, 2026
  • Q & A: 400 Questions and Answers
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FINRA General Securities Representative Examination (GS) Sample Questions:

1. Bubba Corporation has a profit sharing plan. The company president, Bubba, is receiving the maximum
plan contribution amount. The corporation has one other employee, who is eligible for the plan. If this
person earns $12,000 per year, how much must be deposited in the plan for the employee?

A) $6,000
B) $12,000
C) $3,000
D) $1,800


2. Approval for a registered investment company to change is investment objective from income to growth is
required from which of the following?

A) the SEC
B) a majority of the shareholders
C) all of the above
D) the FINRA


3. In regard to discretionary accounts, which of the following statements is correct?

A) the customer must approve each transaction in writing before the order is entered
B) the customer must grant written authorization to the member firm to exercise discretion in the account
C) both B and C
D) the account must be accepted in writing by an officer of the member firm


4. Bubba has several accounts at a brokerage firm. Which of the following is not covered by SIPC?

A) commodities account in Bubba's name only
B) joint account of Bubba and his wife
C) individual account in Bubba's name only
D) joint account of Bubba and his son, Bubba, Jr.


5. What is the name for the rate of discount from the list price that is paid to a municipal securities
underwriting group member for its sales participation?

A) spread
B) takedown
C) concession
D) commission


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: C
Question # 4
Answer: A
Question # 5
Answer: B

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