Which of the following would not appear on an order ticket?

• A.the stock symbol
• B.the account number of the client buying or selling the security
• C.the settlement date
• D.the agent's commission

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Which of the following persons would not be required to register with the state as an agent under the
guidelines of the Uniform Securities Act (USA)?

• A.Keith is a salaried employee of Middlesex County in Massachusetts who sells revenue bonds issued by
  the county to the public.
• B.John is employed by TrustUs Corporation to sell shares of the firm's stock to the firm's employees and
  receives a commission on the shares he sells.
• C.Stefan is a sales representative for SecureMoney Broker-Dealers and sells only mutual fund shares.
• D.Preetham is part-owner of SecureMoney Broker-Dealers and executes the purchase and sale of
  securities for the firm's customers.

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A broker-dealer will be found guilty of churning an account if the account has a turnover ratio of

• A.four.
• B.five.
• C.eight.
• D.There is no specified turnover ratio assigned to the prohibited practice of churning.

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Which of the following would be considered an "issuer" transaction?

• A.Jacob calls his broker and places an order to purchase 100 shares of Hasbro, Inc. on the open market.
• B.Maria purchases 500 shares of Dodge and Cox's International Fund, a mutual fund investing in foreign securities.
• C.Kim sells an AT&T bond she holds that still has three years remaining to maturity.
• D.None of the above is an "issuer" transaction.

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Rich Quick is a broker-dealer registered in the state of Massachusetts. He occasionally trades on
abnormalities he observes in bond yield spreads for his own account, short selling a bond that appears to
be overpriced based on its yield and buying a bond that is identical in almost every respect except for the
price, which is less than that of the other bond. He has been able to earn arbitrage profits 95% of the time
when he does this. Rich Quick

• A.is in violation of securities laws. Arbitrage is a prohibited activity.
• B.is skilled if he is able to earn profits 95% of the time using this strategy.
• C.is trading on insider information, which is a violation of securities laws.
• D.engaged in a fraudulent activity.

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