FINRA Rule 5190 (e) requires firms to notify FINRA of penalty bids or syndicate covering transactions in connection with an OTC equity offering. When must a firm notify FINRA?

both before and after engaging in these activities

only before engaging in these activities

within 2 business days after engaging in these activities

within 10 calendar days after engaging in these activities

What are the tax implications to the corporation of IRC 280G, excess Golden Parachute payments, in a merger?

The corporation may not deduct the amount of any excess payments.

The corporation must pay 20% excise tax on the excess payment.

The amount of the excess payment must be capitalized and depreciated.

The corporation may not deduct the amount of any excess payments.

Excess parachute payments are reduced by any life, health and disability insurance premiums paid by the corporation

Global Solar Power, Inc. would like to buy back 1,000,000 shares of its stock. They will invite shareholders to tender their shares of common stock at prices not in excess of $40/share and not less than $25/share. They will use a modified Dutch auction to buy back their shares. They receive the following bids: Bid A: 200,000 shares at $27/share Bid B: 500,000 shares at $30/share Bid C: 750,000 shares at $32/share Bid D: 1,000,000 shares at $35/share Bid E: 1,000,000 shares at $40/share Which of the following is true?

Bidder B will sell some of its shares at $32/share

Bidder E will sell all of its shares at $40/share.

Bidder A will sell some of its shares at $27/share.

Bidder C will sell all of its shares at $32/share

Bidder B will sell some of its shares at $32/share

QRS Corporation has two classes of shares: 1000 shares of common stock and 1000 shares of cumulative preferred stock. The cumulative preferred stock is entitled to an annual dividend of $10 per share. QRS suspends paying dividends for two years; in the third year, QRS declares a cash dividend payable to all shareholders. There is $30,000 available for dividends. How much will owners of each type of share earn in the third year?

$0 per share to common shareholders, $30 per share to preferred shareholders

$30 per share to common shareholders, $0 per share to preferred shareholders

$20 per share to common shareholders, $10 per share to preferred shareholders

$0 per share to common shareholders, $30 per share to preferred shareholders

$10 per share to common shareholders, $20 per share to preferred shareholders

Series 79 Sample Quiz

FINRA Investment Banking Representative Exam

Number of Questions	10
Time Duration	Untimed
Answer Feedback Instant validation and rationale
Percentage required to pass	73%

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