Series6 無料問題集「FINRA Investment Company and Variable Contracts Products Representative Examination (IR)」
Steel Dynamics (STLD) has a convertible bond issue that matures in four years. The bond has a face
value of $1,000 and pays a coupon of 5.125%, with interest paid semiannually. The conversion ratio is
5 6.9801.If the stock of Steel Dynamics is currently priced at $15 a share, what is the conversion value of
this bond, to the nearest cent?
value of $1,000 and pays a coupon of 5.125%, with interest paid semiannually. The conversion ratio is
5 6.9801.If the stock of Steel Dynamics is currently priced at $15 a share, what is the conversion value of
this bond, to the nearest cent?
正解：D
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Ms. Mix always assures her clients that she will be calling them with quarterly recommendations for
rebalancing their portfolios if there are any changes that she feels are appropriate. This has worked out
well for her pocketbook since she has always been able to tweak each of her clients' investment portfolios
a little each quarter by recommending that they redeem their shares in one fund that hasn't performed as
well in the last quarter and use the proceeds to invest in another that has. Her clients feel cared for since
she is in such regular contact with them. Is Ms. Mix violating any securities regulations with this policy of
hers?
rebalancing their portfolios if there are any changes that she feels are appropriate. This has worked out
well for her pocketbook since she has always been able to tweak each of her clients' investment portfolios
a little each quarter by recommending that they redeem their shares in one fund that hasn't performed as
well in the last quarter and use the proceeds to invest in another that has. Her clients feel cared for since
she is in such regular contact with them. Is Ms. Mix violating any securities regulations with this policy of
hers?
正解：A
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The stock of Nutrisystem, Inc. (NTRI) is selling for $17.70 when Miss Piggy places a limit order to buy the
stock at $17.65. During the period the order is open, NTRI falls to $17.60 and then increases to
$ 17.67.Which of the following statements is most likely to be true in this scenario?
stock at $17.65. During the period the order is open, NTRI falls to $17.60 and then increases to
$ 17.67.Which of the following statements is most likely to be true in this scenario?
正解：B
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MBIA, Inc., a municipal bond insuring company, has a bond issue that is selling for $80.05 to yield 9.5%.
The bond has a coupon rate of 7%, with semiannual payments, and matures in 2025.If interest rates in
the economy increase, which of the following statements will be true, all else equal?
I. the nominal yield of the bond will increase.
II. the yield-to-maturity of the bond will increase.
III. the current yield of the bond will increase.
The bond has a coupon rate of 7%, with semiannual payments, and matures in 2025.If interest rates in
the economy increase, which of the following statements will be true, all else equal?
I. the nominal yield of the bond will increase.
II. the yield-to-maturity of the bond will increase.
III. the current yield of the bond will increase.
正解：A
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NewWave Investments, a family of mutual funds, hires the star of a new motion picture about the
workings of Wall Street to provide a testimonial as part of NewWave's new television ad campaign. The
actor's financial adviser has, in fact, invested some of the actor's monies in NewWave's funds. NewWave
provides the actor with a script in which the actor explains the concept of dollar cost averaging to the
viewers. At the conclusion of the actor's explanation, the viewers are informed that the actor has been
paid for his testimonial, that his experience may not be representative of that of other clients, and that past
performance is no guarantee of future performance. Based on these facts:
workings of Wall Street to provide a testimonial as part of NewWave's new television ad campaign. The
actor's financial adviser has, in fact, invested some of the actor's monies in NewWave's funds. NewWave
provides the actor with a script in which the actor explains the concept of dollar cost averaging to the
viewers. At the conclusion of the actor's explanation, the viewers are informed that the actor has been
paid for his testimonial, that his experience may not be representative of that of other clients, and that past
performance is no guarantee of future performance. Based on these facts:
正解：D
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Tex Payor owns 500 shares of Amazon.com, Inc. that he bought seven years ago when the stock price
was $18 a share, at which time he paid a commission of $12.95 to purchase the stock. At the beginning of
this year, Amazon was selling for $89 a share. Today, December 31st, Amazon's stock closed at $152 a
share. Based on this information, what must Tex include on this year's tax return as taxable income from
his investment in Amazon?
was $18 a share, at which time he paid a commission of $12.95 to purchase the stock. At the beginning of
this year, Amazon was selling for $89 a share. Today, December 31st, Amazon's stock closed at $152 a
share. Based on this information, what must Tex include on this year's tax return as taxable income from
his investment in Amazon?
正解：A
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HiTop Investments main office is located in the state of Colorado. A registered representative of the firm
sent out an e-mail to his clients, some of whom reside in other states, promoting the firm's Colorado
Municipal Bond Fund, which invests exclusively in bonds offered by the state and local governments of
Colorado. In the e-mail, the representative states, "These bonds provide income that is free from both
federal and state taxes and may also be free from local taxation, if any exists." Is this e-mail in violation of
any securities' laws?
sent out an e-mail to his clients, some of whom reside in other states, promoting the firm's Colorado
Municipal Bond Fund, which invests exclusively in bonds offered by the state and local governments of
Colorado. In the e-mail, the representative states, "These bonds provide income that is free from both
federal and state taxes and may also be free from local taxation, if any exists." Is this e-mail in violation of
any securities' laws?
正解：B
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Your client is trying to choose between a variable annuity and a fixed annuity. You can tell him that:
I. the fixed annuity will make guaranteed monthly payments, but has more purchasing power risk than a
variable annuity.
II. he can expect higher monthly payments from his fixed annuity during a bear market than he would get
from a variable annuity.
III. the earnings on both variable and fixed annuities grow tax-deferred.
I. the fixed annuity will make guaranteed monthly payments, but has more purchasing power risk than a
variable annuity.
II. he can expect higher monthly payments from his fixed annuity during a bear market than he would get
from a variable annuity.
III. the earnings on both variable and fixed annuities grow tax-deferred.
正解：A
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The stock of eBay, Inc. (EBAY) currently has a beta of 1.67. Based on this, which of the following
statements are necessarily true?
I. If the market is up 5%, an investor can expect the returns on eBay to increase by 1.67 times this amount,
or 8.35%.
II. eBay would be a particularly good investment for an investor with a short investment horizon.
III. The returns on eBay are more volatile than the returns on the market in general.
IV. eBay has more unsystematic risk than the market in general.
statements are necessarily true?
I. If the market is up 5%, an investor can expect the returns on eBay to increase by 1.67 times this amount,
or 8.35%.
II. eBay would be a particularly good investment for an investor with a short investment horizon.
III. The returns on eBay are more volatile than the returns on the market in general.
IV. eBay has more unsystematic risk than the market in general.
正解：A
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