Question 1

Bubba owns stock with cumulative voting rights. There are five vacancies on a board and he owns 100 shares of stock. Bubba is entitled to cast the following votes:

Options :

A : a total of 100 votes

B : a total of 100 votes per

C : a total of 500 votes

D : you are not allowed to vote

Answer: C

Question 2

Distribution from an IRA can begin at age 59½ and must begin by age:

Options :

A : 70½

B : 65

C : 68

D : whenever the individual is retired

Answer: A

Question 3

An investment company incapable of issuing a long-term debt instrument is:

Options :

A : a face-amount certificate company

B : a unit investment trust

C : a closed-end investment company

D : an open-end investment company

Answer: D

Question 4

Which of the following are direct obligations of the US government?

Options :

A : Import-Export bank bonds

B : Series EE bonds

C : Farm Credit System bonds

D : both B and C

Answer: B

Question 5

Which of the following sources provides news of prospective municipal securities sales to underwriters?

Options :

A : the Blue List

B : the daily Bond Buyer

C : the SEC News Digest

D : The Wall Street Journal

Answer: B

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