Series 7 Question of the Day

You picked the incorrect answer

Mr. Bullishinski writes 10 naked puts on WHY stock. What is the maximum loss that Mr. Bullishinski can face?

Strike price minus the premium x 100 shares x 10 options
Strike price plus the premium x 100 shares x 10 options
The entire premium received
Unlimited

The correct answer is (A)

There is only an unlimited loss potential when selling a naked call. When selling an uncovered put, you lose money when the stock price decreases. To figure out the max loss on a put, you take the strike price minus the premium received, multiply by 100 shares per contract and then multiply by the number of contracts.

Series 7 Exam Information

All Series 7 exam materials were written by current Series 7 instructors that actually took the Series 7 exam. The Series 7 course material has been honed over years of feedback and teaching expertise to give each student the best chance of passing the test the first time.

The Series 7 exam is the NASD/NYSE exam required by most broker-dealers for their registered representatives.

The NASD Series 7 Covered Areas Include: Stocks, Debt Securities, Investment Banking, Securities Markets, Taxes, Securities Analysis, Self Regulatory Organizations (SRO’s), Mutual Funds and Investment Companies, Annuities, Margin, Options, Money Market Instruments, Direct Participation Programs and Municipal Securities.

There is no prerequisite exam for the NASD Series 7, however, you will be required to take the Series 63 or Series 66 as co-requisite exams.

The Series 7 exam is made up of 260 multiple-choice questions of which 10 are experimental. Each student will be given a total of 6 hours for the exam (3 hours for each half). A grade of 70 is considered passing.

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