Which of the following rates is subject to the most frequent changes?

• A.Prime
• B.Call loan
• C.Discount
• D.Federal funds

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Which of the following entities settles broker-to-broker equity, listed corporate and municipal bond, and unit investment trust (UIT) transactions in the U.S. equities markets?

• A.SEC
• B.FINRA
• C.Federal Reserve
• D.National Securities Clearing Corporation (NSCC)

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A customer writes a call for XYZ stock with a strike price of $35 and receives a premium of $7. The stock is currently trading at $40. What is the time value of this option?

• A.$0
• B.$2
• C.$5
• D.$7

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The primary market is regulated by the SEC under which of the following acts?

• A.The Securities Act of 1933
• B.The Securities Exchange Act of 1934
• C.The Investment Advisers Act of 1940
• D.The Investment Company Act of 1940

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Which of the following statements is true of the writer of a listed equity call option?

• A.They have the right to sell stock at a fixed strike price.
• B.They have the right to buy stock at a fixed strike price.
• C.They have the obligation to sell stock at a fixed strike price.
• D.They have the obligation to buy stock at a fixed strike price.

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