Practice Quiz

FINRA Series 7

Category - Series 7

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Which of the following statements incorrectly describes US securities markets?
  1. a capital market comprised of long-term debt and equity issues
  2. a money market comprised of short-term debt and equity issues
  3. a municipal market comprised of tax-exempt issues of state and local governments
  4. a government and agency market comprised of both short-term and long-term debt issues
Explanation
Answer: B - a money market comprised of short-term debt and equity issues. This is the statement that is “incorrect”. Equity issues are not traded in the money market, which consists only of high-quality short-term debt securities.
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