A management group may serve an investment company as its:

• A.underwriter
• B.custodian
• C.investment advisor
• D.both A and C

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When opening a brokerage account for a customer, a registered representative must determine the customer's:

• A.investment objectives
• B.financial resources
• C.financial requirements
• D.all of the above

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Bubba has been classified as a restricted person according to Rule 2790. He may purchase equity securities of an IPO except:

• A.to purchase securities to avoid dilution
• B.when the new issue of securities is purchased pursuant to a stand-by agreement
• C.when the transaction is exempt by an order of the FINRA
• D.when the new issue of securities is purchased pursuant to a best effort basis

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Which of the following securities has the highest amount of market risk?

• A.US treasury bills
• B.US treasury certificates
• C.US treasury notes
• D.savings bank deposits

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Securities may be sold under SEC rule 144 provided that the following conditions are met:

• A.the company files regular financial data with the SEC
• B.they are sold in agency transactions only
• C.they are sold in principal transactions only
• D.both A and B

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