FINRA Series7 : General Securities Representative Examination (GS)

Series7 real exams

Exam Code: Series7

Exam Name: General Securities Representative Examination (GS)

Updated: Jun 18, 2026

Q & A: 400 Questions and Answers

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FINRA General Securities Representative Examination (GS) Sample Questions:

1. Which of the following are sources of funding for limited partnerships?

A) installment payments
B) periodic assessments on the partners
C) proceeds of the offering
D) all of the above


2. With respect to the public offering of securities by an underwriting syndicate, which of the following is
true?

A) the reallowance is greater than the underwriting spread
B) the selling concession is greater than the underwriting spread
C) the reallowance is greater than the selling concession
D) the underwriting spread is greater than the selling concession


3. Which of the following receives the highest priority of a municipal bond trustee when applying income and
revenue derived from a financed toll facility?

A) operation and maintenance fund
B) reserve maintenance fund
C) renewal and replacement fund
D) bond service account fund


4. Maintaining a fair and orderly market and acting as a broker's broker are dual functions of the:

A) two-dollar broker
B) odd-lot dealer
C) specialist
D) competitive trader


5. 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) 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
C) distribute the assets in the account to the surviving partners
D) no special action is required because the death of a single partner does not terminate the partnership
agreement


Solutions:

Question # 1
Answer: D
Question # 2
Answer: D
Question # 3
Answer: A
Question # 4
Answer: C
Question # 5
Answer: B

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