Which of the following responses best characterizes a money market mutual fund?

• A.It pays a fixed rate of return.
• B.Its price is fixed at $1 per share.
• C.Its underlying investments are short term.
• D.Its yield always exceeds a savings account rate.

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Which of the following is considered nonpublic information?

• A.Customer's name
• B.Customer's address
• C.Customer's net worth
• D.Customer's telephone number

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When is a newly registered person subject to the Continuing Education Regulatory Element requirement?

• A.The calendar year following initial registration
• B.On the anniversary date of initial registration
• C.Every three years after the date of registration
• D.Every five years

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A Treasury bill is issued under which of the following terms?

• A.At par
• B.At par plus interest
• C.At a discount
• D.At a stated rate of interest

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Which of the following statements characterizes the typical relationship between the market value of a municipal bond portfolio and interest rates?

• A.As interest rates increase, the market value goes up.
• B.As interest rates decrease, the market value goes up.
• C.As the market value goes down, interest rates decrease.
• D.As the market value goes up, interest rates stay constant.

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