Practice Quiz

FINRA Series 7

Category - Series 7

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A registered representative just accepted Bubba’s instructions to buy a specific stock in the over-the-counter market with the credit balance in his account. Which of these orders for that issue can be entered and executed on a single ticket in a typical broker/dealer organization?
  1. buy 150 XYZ at market
  2. buy 150 XYZ at 17.50 or better
  3. buy $2,500 worth of a mutual fund XYZ Corporation
  4. all of these
Explanation
Answer: D - all of these. In the OTC market, all of these orders are possible. A mutual fund is considered OTC.
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