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Question 1 of 10
When discussing a corporation’s capitalization, each of the below would be included except:
Question 2 of 10
Miami-Dade County currently has the following four GOs outstanding. All issues possess a call feature and have coupons and maturities as shown below. Assume all issues have similar principal amounts outstanding. In the event interest rates decline, and the County plans to do a refunding of only one of the four outstanding GOs, which issue would most likely be called?
Question 3 of 10
When viewing the latest quotes on T-bills, you note that the current quote on the new 3 month Bills, 0.55 − 0.50, is somewhat higher than the quote on new 3 month Bills at the previous auction.
Question 4 of 10
CPU Industries, Inc. (ticker symbol CPU) has $50,000,000 par value convertible debentures outstanding with a 40 to 1 conversion ratio. If the bonds are currently trading at 110 and are above parity, CPU common must be trading:
Question 5 of 10
All of the below represent bond sweeteners with the exception of:
Question 6 of 10
Stabilizing a new stock issue
I. May occur once the S-1 has been filed with the SEC
II. May only occur if disclosed in the final prospectus
III. May not occur at or above the POP
IV. If necessary, is normally a function performed by a syndicate manager
Question 7 of 10
Lyon Technology is being quoted by 3 market makers as follows:
Market Maker A 42.22 – 42.72 10 by 15
Market Maker B 42.28 – 42.75 15 by 10
Market Maker C 42.20 – 42.68 5 by 5
If a member firm received and accepted a customer sell order for 500 shares of Lyon Tech common, the mark-up or mark-down would be based upon:
Question 8 of 10
Your firm is the lead underwriter of a $100,000,000 municipal general obligation offering of New York City. One of the key elements in the list of disclosures to prospective investors is the legal opinion. Pick from the below who prepares and issues the legal opinion for this bond issue?
Question 9 of 10
As an RR, you’ve determined that investment companies would be a suitable product for several of your customers. In your research, you’ve located two companies and their NAV and Offer Prices respectively are shown below:
Company A: 18.45 − 20.25
Company B: 8.79 − 8.15
Which of these companies could be an open-end management investment company?
Question 10 of 10
Among the most popular features of mutual funds is the availability of reinvestment of dividend and capital gains distributions into full and fractional shares of the fund. None of the following statements about this reinvestment privilege is untrue except:
