Submitted by: Richard Mills

Question: 1

Bubba’s pledge to purchase a specified dollar amount of a mutual fund within a specified period of time is called:

A. a promissory note

B. a letter of intent

C. an investment lette

D. a stock powe

Answer: B

Explanation: a letter of intent. This accurately describes the definition of a letter of intent.

Question: 2

When a corporation dissolves, who gets paid first?

A. bank lenders

B. senior bond holders

C. the tax collecto

D. the lawye

Answer: C

Explanation: the tax collector. Taxes always have preference over any other creditors.

Question: 3

In June, Bubba bought 100 shares of XYZ at $35. In November, he bought a listed put in XYZ with a $35 strike price and a July expiration for a premium of $600. In April, Bubba exercises the put option and uses his stock for delivery. What is his resulting tax consequence?

A. a $600 capital loss

B. neither profit nor loss

C. cannot be determined without knowing the market price of XYZ upon exercise

D. this is a wash sale and cannot be included in the investor’s tax calculations

Answer: A

Explanation: a $600 loss. The strike price and Bubba’s purchase price are the same. He has a $600 loss on the option for the premium he paid.

Question: 4

The definition of debentures is:

A. a loan secured by real estate

B. collateralized securities

C. a worthless security

D. securities backed by the general credit of the issuers but no specific collateral

Answer: D

Explanation: securities backed by the general credit of the issuers but no specific collateral. And in the case of some issuers, that may be fairly worthless.

Question: 5

Bubba Brokerage Corporation announces through its wire system that it has a large block of stock for sale. Customers purchasing the stock will not pay a commission. The block is crossed on the NYSE floor and is printed on the NYSE tape. This is called a:

A. special orde

B. exchange distribution

C. secondary distribution

D. specialist block purchase

Answer: B

Explanation: exchange distribution. An exchange distribution is a large block sold internally by one firm that is crossed on the floor of the exchange. The trade would print on the tape identified by the letters “DIST”.

Question: 6

When does a call option provide the most value to its holder?

A. when the underlying stock is extremely volatile

B. in the month prior to its expiration

C. when there is a large open interest in that class of option

D. when the underlying stock price is rising

Answer: D

Explanation: when the underlying stock price is rising. That’s why the holder of this option wants to have a right to “call” the stock.

Question: 7

The maximum contribution an employer may make to a SEP-IRA is:

A. $4,000

B. $5,000

C. 25% of employee compensation

D. 100% of employee compensation

Answer: C

Explanation: 25% of employee compensation. There is also a dollar cap that is has an annual cost-of-living adjustment.

Question: 8

Bubba Corporation has a registered public offering of 500,000 shares at $36. Of these, 300,000 shares were authorized by unissued and 200,000 shares were sold on behalf of an affiliated person. What is evident from this information?

A. the entire proceeds of the offering are a primary offering accruing to the corporation

B. 300,000 shares are identified as a primary distribution

C. 60% of the proceeds are paid to the corporation and the balance accrues to the affiliated person

D. both B and C

Answer: D

Explanation: both B and C. The 200,000 shares are sold on behalf of the affiliated person so the proceeds go to that individual. Only the other 300,000 shares are a primary offering.

Question: 9

In the offering of new securities, members of the syndicate are permitted to sell to other dealers less the reallowance. The amount of the reallowance is determined by:

A. the FINRA

B. the issuing corporation

C. the syndicate manage

D. the SEC

Answer: C

Explanation: the syndicate manager. The reallowance as well as the selling concession given to selling group members are determined by the managing underwriters.

Question: 10

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

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

Explanation: an open-end investment company. By definition, open-end funds may not issue senior securities. They only issue “voting stock”.

Question: 11

A new stock offering by Bubba Corporation provides details that state between 1,000,000 and 1,500,000 shares will be sold depending upon market conditions. This offering is a:

A. best efforts

B. standby

C. mini-max

D. market potential

Answer: C

Explanation: mini-max. These offerings state the minimum and maximum number of shares offered.

Question: 12

A corporation makes a rights offering to raise $10 million of new capital by issuing one million shares of common stock. If it already has six million shares outstanding at the time of the offering. What is the subscription price per share?

A. $4

B. $6

C. $7

D. $10

Answer: D

Explanation: $10. There are one million shares divided into the $10 million of new capital.

Question: 13

Service charges by a FINRA dealer for transfer and safekeeping of customer securities held in street name:

A. may not be levied under FINRA Conduct Rules

B. may not be levied unless there is no trading in the account for more than six months

C. may be levied only if the security has a value of less than $5,000

D. may be levied only if the charge if fair, reasonable, and non-discriminatory

Answer: D

Explanation: may be levied only if the charge if fair, reasonable, and non-discriminatory. This is the standard in the FINRA rules.

Question: 14

The Bubba Insurance Company is not incorporated. It consists of Bubba and his two brothers as general partners, who maintain an active securities account in the name of the company. If one of the partners should suddenly die, what course of actions should be undertaken by the registered representative at the brokerage?

A. freeze the account from further activity until a death certificate and new partnership agreement are furnished to the brokerage

B. no special action is required because the death of a single partner does not terminate the partnership agreement

C. distribute the assets in the account to the surviving partners

D. execute sell orders but do not accept buy orders or distribute assets from the account until a new partnership agreement is provided to the brokerage

Answer: D

Explanation: execute sell orders but do not accept buy orders or distribute assets from the

account until a new partnership agreement is provided to the brokerage. Sell orders may be accepted but not buy orders or distributions.

Question: 15

When an index option is exercised, settlement is made by:

A. delivery of the underlying securities

B. delivery of a futures contract

C. cash

D. any of the above

Answer: C

Explanation: cash. Index options are settled by payment of cash.

About the Author: Test Information:Total Questions: 400Test Number: SERIES7Vendor Name: FINRACert Name: FINRA CertificationTest Name: General Securities Representative Examination (GS)Official Site:

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Sunday, August 1, 2010

Antelope Valley, California — The Crown Fire that has burned through 13,980 acres in the High Desert of Southern California since 2:32 pm (2232 UTC) Thursday was at 82% containment Saturday evening, according to the Los Angeles County Fire Department.

On Friday high winds caused the fire to jump the California Aqueduct and spread into the city of Palmdale. Over 2,000 residents of Leona Valley, Ana Verde, and Rancho Vista were given mandatory evacuation orders. The sky was blanketed with thick orange pyrocumulus clouds and falling ash, making the air hard to breathe.

State Governor Arnold Schwarzenegger arrived in Palmdale on Friday to survey the burned areas. “We were very fortunate to not have fires for quite some time because the air temperature was cool and we didn’t have the experiencing of dry weather and all the winds and so on, but all of a sudden the fire season kicked in as if, ‘Here we are,'” Schwarzenegger said during a press conference. “But we are ready and we have luckily distributed resources all over the state of California, so we are ready at any given time.”

The fire has so far destroyed one house and three mobile homes, damaging the roof of another and burning car garages, horse stables, and other outbuildings. Most of the more seriously threatened homes were constructed recently from fire-proof materials, with walls coated in stucco, and fire-resistant plants in the yards. Although some roads are still closed to all traffic, all existing evacuation orders were lifted late Friday night and 500 residents of Rancho Vista were told to “shelter in place” until further notice. Despite the absence of mandatory evacuation orders, over 2,000 houses, 60 commercial buildings, and 100 outbuildings are still under threat.

Throughout the night, fire crews have been battling the wildfire, assisted by cooler temperatures and lighter-than-expected winds which have enabled them to establish containment lines. “Crews went out [Friday] night and did some great work trying to complete more lines and also trying to take care of what we call ‘cat eyes’ which are embers within the perimeter of the fire, so there will be much more work being done there today,” said LACFD Captain Roland Sprewell. “But of course we’re not going to rest on our laurels today…we’re going to be vigilantly watching the winds, especially in the ridge and down in the valleys.”

At the height of the fire, 1,700 firefighters from all over California were battling the flames, although as of 12:00 pm Saturday afternoon, it has been reduced to around 1,350 personnel. 16 fire camp crew have also assisted. 250 fire engines and four bulldozers have been used. In the air, 4 Boeing 747 supertankers, 1 McDonnell Douglas DC-10 tanker, and 6 modified Sikorsky UH-60 Black Hawk helicopters known as “Firehawks” have been dropping water and red Phos-Chek slurry. The Los Angeles Sheriffs Department also increased its presence in the Antelope Valley by bringing in response teams from stations outside the AV. This afternoon, the deployment has been scaled back to three teams as the fire stabilizes and further evacuation orders become unlikely.

Three firefighters have been injured battling the fire, although all injuries are minor. One sheriff deputy was also hospitalized for smoke inhalation but has since been released.

Saturday, September 3, 2005

Yesterday, September 2, Sun Microsystems announced the retirement of the Sun Industry Standard Source License (SISSL) scheme. The Open Source Initiative had been discussing ways of reducing the quantity of Open Source licenses to make it easier for developers and companies to chose a license. Dropping the SISSL takes them one step closer to this goal. Sun’s decision to drop the SISSL comes a few months after Intel‘s similar decision to drop its Open Source License in March.

Simon Phipps, the director of Sun’s Open Source Office, said in his blog that he will ask the OSI to put the SISSL on the “not recommended” list. He also said “I’d encourage any project that’s currently using it to make other plans at the time of their next major release”.

No future Sun open-source projects will use the SISSL, and current Sun projects using a dual-license scheme will drop the SISSL “as soon as the development cycle allows”. One of Sun’s most popular open-source projects,, is licensed under both the LGPL and SISSL. As of September 2, all 2.0 code is now licensed exclusively under the LGPL.

Sun prefers the Community Development and Distribution License, a variant of the Mozilla Public License. Sun released OpenSolaris and the Glassfish Java server under the Community Development and Distribution License.

? June 8, 2010
June 10, 2010 ?
June 9

By James Copper

If you are interested in changing your current job as well as your career, then new career training is a must for you. It is irrational to quit your current job and apply for new jobs without planning carefully, as the job market does not offer any guarantees. It is better to take your time in finding the perfect job for your future career growth. You can also consider career training options that can provide great benefits.

Why Do You Need To Have New Training?

Career training options are available in different formats. It actually depends on what career you choose. If you want to get a specialized nursing degree, you would have to find a course that gives you such training with a certification for nursing; for becoming a company secretary, you would apply for a course that involves training for office management skills. Without certification, it is very difficult to find a job. All career training courses can significantly improve your chances for getting better jobs and successful careers. They educate you in a particular field and help you get a significant amount of knowledge and skills. With a proper recognized certification in your hand, you can apply for the best job in the industry and have a much better chance of being successful in your chosen career.

One of the most common reasons for getting new job training is that it helps you stand out in comparison with your competitors. There are many who do not know about such exciting training options or those who do not want to take advantage of such opportunities. Take, for example, the job of company secretary. If you have completed career training courses on computer accounting software, office management skills or typing classes then you have a better chance of getting hired than your competitors who are starting out without any training.

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How To Get New Job Training?

It is very easy to enroll for training courses just after graduation because you are not yet employed. However, if you are currently employed, how would you go about getting career training courses? There are number of different options for getting career training.

– You can easily enroll for training at a local community college that offers flexible course hours that you can attend at night after your job or over the weekend.

– Many online learning courses are available that can help you get educated in a specific career. Some of these online courses are just informatory, meaning they do not provide any certification. These courses can help you get an overview of your considered career training option. Then there are online career training courses that are affiliated with a college or a certain training school and that offer proper certification. This certification can increase the prospects of getting a better job.

– You can also enroll for workshop training classes that are mostly for one or two days and generally taken over the weekend. You can take advantage of such classes to get an overview of a chosen career field and then enroll in a full-fledged training course.

If you are seriously thinking about changing your job or planning a career shift, then you should definitely consider taking new career training courses.

About the Author: James Copper is a writer for


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? July 26, 2010
July 28, 2010 ?
July 27

Saturday, December 24, 2016

A fire on Thursday engulfed at least 140 buildings in Itoigawa, Japan. The inferno injured, by varying reports, at least eight people.

The coastal town in the northern prefecture of Niigata’s many traditional wooden buildings burned easily, fanned by winds of 56kph (35mph). Narrow streets hampered firefighters. “Sparks of fire flew around,” one local resident recounted to Japanese public broadcaster NHK. “That’s why far away buildings unexpectedly caught fire and it became large-scale. I’ve never seen something like this before.”

The national Fire and Disaster Management Agency said the fire started at a Chinese restaurant. The restaurant’s owner yesterday told police he left a stove on and stepped outside. Police said the man told them “I feel deeply sorry for what I’ve done,” and said he went home, returning to find a pot aflame.

Hundreds of residents were evacuated, with 40,000 square metres (about ten acres) of city burning. The fire broke out at around 10:30am local time in a shopping area near the city’s primary train station. It was brought under control by around 8:30pm. Firefighters were assisted by Self-Defence Forces troops brought in at the request of Niigata Governor Ryuichi Yoneyama.

“We will do our utmost effort in supporting those affected”, Yoneyama said yesterday as he inspected the disaster scene. Firefighters remained wary yesterday that ongoing high winds could reignite the charred ruins. Local authorities have begun consulting residents on assistance.

Emperor Akihito paused during his 83rd birthday celebrations to offer condolences. “Many people had to be evacuated in the cold weather. I hope their health will not suffer,” he said from his Tokyo palace.

We will do our utmost effort in supporting those affected

Two women in their 40s suffered minor injuries, one via smoke inhalation and one by falling and hitting her head. At least five firefighters also sustained minor injuries. The fire was Japan’s worst non-natural blaze for twenty years. Smoke rose about 300m (roughly a thousand feet) as rescuers worked to contain it. Seventeen fire trucks responded.

Itoigawa is home to around 44,500 people. It faces the Sea of Japan. The mixed neighbourhood features both homes and shops. One local official said it is suspected the timing of the fire led to many residents being out of harm’s way.

By Adriana J. Noton

It is easy for the people today to go deep into debt. With the availability of credit cards and the expense of a typical family, people do not think logically about how they are spending their money. Eventually, the bills are so high, debt consolidation is the only hope. It should not be a frightening concept, but one that brings peace and security to the mind of the debtor.

Some people choose to go to a professional consolidating company to take care of their problem. Do research into the background of the company you are considering. Some companies are good at what they do while others are not. Some have a good deal of experience, a good reputation and offer references to new customers. This is important because anything that has to do with family finances and anyone who has access to this information must be trustworthy and dependable.

It is a good idea to consult with an accountant if you have one that you trust and can rely on. They will give you an idea of the state of your finances. They can also suggest solutions and create resolution plans for you. You will need to disclose all of your personal and business financial information, so make sure you respect and trust the accountant completely. An accountant will often show you what you need to do to make sure you stay in the clear your finances in the future.

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Since credit cards are so easily obtainable, many people do not think ahead to the future and whether or not they will be able to afford to pay the credit companies back. It is never a good idea to pay credit cards with the minimum balance required. It can take years to pay off a small amount if only the minimum balance is paid. Consolidating all the cards and other bills together is an excellent way to get everything paid off much sooner.

Consolidation companies work with the creditors to reduce the amount of payback. They will ask for a reduction and make payment arrangements so that the interest, penalties and fees will stop being added on. This is a great way to get rid of unwanted old debts.

You can consult with a lawyer about your rights when you have neglected your debts and they have gotten out of hand. A lawyer will fight for you to be able to pay off the debts without being harassed about them. A lawyer will also advise you whether or not consolidating or declaring bankruptcy is the right thing to do.

The best time to start learning about finances and paying debts is when you are very young. Teach your children about the details of money and how to handle it very early on so that they will be able to handle themselves when they are out on their own. This will keep them from running into a situation like yours.

The option of debt consolidation can be blessing to people who are stressing out about how much money they owe to their creditors. It is usually a better choice than declaring bankruptcy, which stays on the credit as a bad mark. Paying off all your debts looks good to creditors and learning how to handle finances will help you live a better, more fulfilling life.

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Thursday, August 25, 2011

The United Kingdom electoral commission has been asked to investigate whether payments made by News International to Andy Coulson amidst the recent phone hacking scandal were illegal.

Labor MP Tom Watson, who has been a driving force in the phone hacking scandal, called for the investigation after he believed that payments and benefits made to Coulson, including private health benefits and a company car, should have been declared as a political donation. Mr Watson has reportedly been trying to uncover whether Coulson declared these payments to the cultures committee upon applying for access to parliament.

MPs are bewildered by Prime Minister David Cameron’s hiring of Coulson without anyone looking into his financial history, and many have expressed outrage as the reports contradict evidence given by the former News of The World editor to the culture committee in 2009. He allegedly told the committee that he had received a salary of £275,000 and that he did not have a second income.

Coulson is expected to face further questioning from the committee about the payments after he is cleared from the phone hacking scandal.

Robert Peston, a journalist for the BBC, claimed that Mr Coulson had received several hundred thousand pounds from News International after he began working for the Conservative Party. Despite his ousting in 2007, Mr Coulson received his severance pay in installments from News International until the end of that year.

Coulson was known to have received a payoff after his resignation from News of the World in 2007. The resignation came after the conviction of journalist Clive Goodman for phone hacking.

The Culture, Media and Sport Select Committee has stated that both Coulson and News International should have informed the committee about the payments. The investigation will decide whether or not the electoral committee has been misled by Coulson, and whether the payments should be considered as a political donation.

The committee is expected to meet in early September to decide on a plan of action.

Wednesday, February 2, 2011


The BBC have announced they are to axe annual music festival Electric Proms from their schedule for financial reasons. The festival first took place in October 2006. The 2011 event will not go ahead, with last year’s festival being the last.

Bob Shennan, controller of BBC Radio 2, said he was “disappointed” with the decision to cancel the festival. He said “In the current climate, we are faced with making difficult decisions, including how best to deliver high-quality live music programming throughout the year in light of continuing efficiency savings. I feel that Radio 2 can achieve the same impact of the Electric Proms in an alternative, more cost-effective way. I’m disappointed that the lifetime of Electric Proms has come to an end, but very proud of its fantastically rewarding run of creating new moments in music for the past five years.”

During the festival’s five year run it has featured performances from stars such as Elton John, Neil Diamond, and Shirley Bassey.

The decision to axe the festival comes at a time when the BBC are planning a 20% savings cut. Last week BBC director general Mark Thompson announced 650 job losses after dropping five languages from the BBC World Service.

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