In presenting an array of debt investments for your customer’s consideration, various investment risks are a major part of your presentation. When reinvestment risk is being discussed, which of the below instruments is least exposed to it?

At option expiration with CMV at the strike price, which account with no other positions beyond the following option positions will always experience profit?

In financial planning discussions with Mr. Nicklaus, a customer of yours who has experience in real estate investing, he inquires about finding a securities investment through your firm which will provide upside potential from improvement in the real estate market while also providing liquidity in the event a quick exit is necessary. The most suitable investment meeting his criteria is:

Select from the below metrics the best test of corporate liquidity.

Variable annuities are subject to which of the following?

I.    State blue sky regulations

II.   SEC regulations

III.  FINRA rules

IV.  State insurance regulations

The FINRA 5% policy applies to which of the following?

Your B/D is not a market maker in the stock of LANG Enterprises (ticker symbol: LANG), a NASDAQ listed stock. You receive, and accept, a customer buy order for 500 shares of LANG at the market. To fill this order, your order room purchases the shares from a market maker to fill the customer order. Which term below best describes this situation:

Mr. Haas goes long 5.5% ABC debentures at 94 with 10 years until maturity. Five years later, due to a change in interest rates, credit quality and approaching maturity, the market value of his bonds has risen to 96. If he were to liquidate his bond position at this price, the most likely tax consequence in the year of sale would be:

One of the most notable risks which must be disclosed to your customer when recommending CMOs is that as interest rates in the US economy fall:

ETNs are: