- University of South Florida
- Faculdade De Ciências
- Faculdade De Ciências Nasd
- Series 7
Last Modified: 2011-06-15
A stock that is resistant to changes in general economic activity.
Examples include Utility, food, beer, candy, pharmaceutical, tobacco, and soft drink stocks.
Debt of a political entity such as a county where its tax base overlaps the tax base of another political entity such as a city within the county. Does not account for states overlapping.
- Petition the court to have the general partner removed
- Petition the court to have the partnership dissolved
- Sue the general partner
- Accelerated depreciation in excess of straight line
- Excess intangible drilling costs
- Excess mining, exploration, and development costs
- Newspapers and magazines
- Radio, telephone messages, and television
- Newsletters, sales literature, and research
- Amount of the underwritingspread,
- The initial offering of each maturity
- Any fee received asagent for the issuer.
- A face-amount certificate
- management company
- unit investment trust.
- Cash contributed to the partnership
- The tax basis of property contributed to the partnership by the partner
- Partnership gains or losses not realized by partner
- Partnership debt for which the investor is personally liable (recourse debt)
- A portion of non recourse debt in real estate program
- Raw Land
- New Construction
- Existing Properties
- Government Assisted Housing
- Exploratory programs - wildcatting, most riskiest, buying land and searching for oil/gas wells
- Developmental programs - rights to drill in proven areas. High deductibility but low risks. Lower potential for return compared to wildcatting
- Balanced programs - Exploratory drilling and development drilling
- Income Programs - incoming from already producing wells
- Functioning Allocations - deductible expenses are to partners, non deductible are to sponsor (general partner)
- Overriding Royalty Interest - sponsor does not share in any costs, but shares revenue from beginning (5-10% of gross production)
- Reversionary Working Interest - sponsor does not share in any costs, but does not receive any revenues until the partners have recovered their costs.
- Disproportional - sponsor will bear smaller percentage of costs when compared to percentage of return of revenue.
- Owner of call purchase the underlying stock.
- Cost basis is strike plus the premium paid
- Seller of a call must sell the underlying stock
- Cost basis is strike plus the premium received
- Owner of a put sells the underlying stock
- cost basis would be strike premium minus premium paid
- Writer of a put must buy the underlying stock when exercised
- cost basis for buying the stock is strike - premium
- The calls will expire 10:59 p.m. Central Time, 11:59 p.m. Eastern Time on the Saturday following the third Friday of the month
- Options stop trading at 3:00 p.m. Central Time, 4:00 p.m. Eastern Time on the third Friday of the month.
- The Options Clearing Corporation will accept an exercise notice up to 4:30 p.m. Central Time, 5:30 p.m. Eastern Time on the day prior to expiration
- If a municipal bond is purchased at a discount in the secondary market and held to maturity, there would be reportable taxable income. The investor may pay the tax each year or elect to report the entire gain at maturity.
- If a municipal bond is purchased at an original issue discountand held to maturity, there will be no federal tax liability. Discount is accreted each year as interest, which is exempt from federal taxes because it is a municipal bond
- The broker-dealer pledges 140% of the debit balance in stock to the bank.
- The bank loans 100% of the debit balance to the broker-dealer.
- Margin Agreement
- Credit Agreement - customer recognizes that he/she is borrowing funds from the firm and is responsible for payment of interest and repayment of the loan. The interest rate is variable and is typically tied to the broker call loan rate
- Hypothecation Agreement - gives the firm the right to pledge the customer's security to a bank.
- Loan Consent Agreement - gives the firm the right to lend the customer's securities
- Portfolio generally remains fixed for the life of the trust so there is no need for day-to-day management (container into which securities are placed). No Management fee
- Investors buy units
- life of these funds is limited to the life of the bonds in the bonds in the portfolio
- Have a sales charge and breakpoints
- A fixed trust represents a buy and hold strategy where the portfolio is not traded
- Mainly invested with bonds
- units are redeemed
- the value of the unit will decline as interest rates rise
- unsecured corporate debt with a maximum maturity of 270 days.
- Issued for cash flow purposes.
- marketed through broker dealers to the public (sometimes issuer markets themselves)
- Held each Monday, settles on the Thursday following the auction
- Competitive offers are received by large security firms
- Noncompetitive offers are submitted by individuals.
- Noncompetitive offers are filled first, but must accept the yield and price determined by the auction. Will pay the lowest prices of the accepted competitive tenders.
- 4 wk bill - weekly (Tuesday, settle on Thursday)
- 13/26 week - weekly (Monday, settle on Thursday)
- 52 week - Every four weeks (Tuesday, settle on Thursday)
- 2,3,5 year - monthly (Varies, settle end of month)
- 10 year - Quarterly (Feb, May, Aug, Nov, settle on the 15th of the month)
- 30 year - Quarterly (Feb, May, Aug, Nov, settle on the 15th of the month)
- Deposit cash with the firm equal to the aggregate strike price
- Deliver a letter guaranteeing the funds are at a bank in deposit
- Be short the underlying security
- Own a put with the same or higher strike and the same or later expiration as the one written now
- Accountants and lawyers who provide advice in a manner incidental to their profession
- Broker-dealers and their representatives
- Government Securities Advisors
- Increase earnings per share
- To have stock available for stockoption plans for key employees.
- Customer's Account Number
- Whether it was solicited or non-solicited
- Location of securities (long in the customer's account or held by customer)
- The same as the exercise price
- Considerably greater than the exercise price
- A Keogh plan is a qualified retirement plan for a self-employed individual and some of his employees.
- It is set up according to the standards established by ERISA.
- Contributions to the plan and earnings in the plan are not subject to tax until they are withdrawn.
- Keoghs are not tax-free; the tax is deferred
- 20% income or 49,000, which is less
- Contributions are tax-deductible
- Savings bank rates are below money market rates.
- The FRB has adopted a tight money policy
- was developed to explain the behavior of security prices
- provides a mechanism to assess risk and return
- is based on the efficient market theory and assumes all investors act randomly
- But Stock of the company being acquired
- Sell Short stock of acquiring company
- no 6 month holding period requirement
- limits on selling - Form 144A / Rule 144
- 6 month holding period
- limits on selling - Form 144A / Rule 144
- Private Placement (Reg D)
- Intrastate (Rule 147)
- US gov't securities
- Municipal securities
- Settlement date
Which of the following option orders may be accepted by an order book official?
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