August Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Question

Relevant to the Series 6Series 7, Series 24, Series 26Series 62, Series 79Series 82, and Series 99.

 

 

 

 

 

Which of these records about your customer Doug is your firm required to retain for five years?
 
A. Doug’s customer ledger
B. A SAR you filed on Doug
C. A complaint Doug filed about you

D. A confirmation of one of Doug’s trades

Series 3 Study Materials Available Now!

When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator? But life got in the way of your dream? Continue reading

“When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator?”

“But life got in the way of your dream?”

Good news! Solomon Exam Prep has just published study materials for the Series 3 – NFA National Commodities Futures Examination. A Series 3 license qualifies individuals to solicit customers, customer orders or customer funds on behalf of a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator. It also qualifies persons to supervise these individuals.

Solomon Exam Prep’s materials are thorough, covering every topic on the NFA outline. Chapters include:

1. Trading in Commodity Futures
2. Trading in Interest Rate Futures
3. Foreign Exchange Futures, Stock Futures, and Futures Spreads
4. Simple Options and the Futures Market
5. Hedging with Multiple Options
6. Futures Price and Market Analysis
7. Registration, Regulation and Disciplinary Procedures

With the Series 3 registration, you can offer investments in commodity and security futures. If you want to be a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity pool operator, commodity trading advisor, or leverage transaction merchant, the Series 3 is for you!

Solomon Exam Prep is known for easy-to-understand exam study guides, available in both digital and hard copy format. Solomon Exam Prep also offers an industry-leading online exam simulator! With unlimited chapter quizzes and practice exams and an original question bank of over 1,200 questions, there’s nothing better to study with. Get the exam study guide and online exam simulator together in Solomon Exam Prep’s Essentials package for 10% off!

With Solomon Exam Prep’s study materials, you can rocket into a bright future with futures!

SIE Exam Bootcamp

Solomon Exam Prep is pleased announce a joint venture with University of California, Berkeley: SIE Exam Bootcamp! Continue reading

Solomon Exam Prep is pleased announce a joint venture with University of California, Berkeley: SIE Exam Bootcamp! This intensive, four-day, live class will prepare you for a career in the securities industry!

What is the SIE?
SIE stands for Securities Industry Essentials. The SIE is a fundamental exam that will launch on October 1st, making it easier for everyone to enter the securities industry. It is the new co-requisite for many FINRA licensing exams, including the Series 6, 7, 22, 57, 79, 82, and 99. The SIE Exam Bootcamp will cover every topic in the SIE exam:

1. Equity Securities
2. Debt Securities
3. Investment Companies, Life Insurance Products, & Other Packaged Securities
4. Options & Alternative Investments
5. Risk, Disclosures, & Taxation
6. Issuing Securities: The Primary Market
7. The Securities Markets
8. Customer Accounts
9. Prohibited Activities and Conduct Rules
10. Regulatory Responsibilities

Why the SIE?
Starting October 1st, passing the SIE will be the first step to getting licensed in the securities industry. If you want to get ahead of the curve, or if you need a better grasp of the basics of securities and the markets, the SIE exam course will be a thorough and valuable introduction. Students will also be provided with comprehensive study materials from Solomon Exam Prep and continued tutoring options upon completion of the SIE Exam Bootcamp.

How Can I Take The Class?
The UC Berkeley SIE Exam Bootcamp will take place August 6-9 on the UC Berkeley campus.
For more information, go to: https://executive.law.berkeley.edu/custom-options/sie-exam-bootcamp/

July Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Question

Relevant to the Series 6Series 7Series 62Series 65,  Series 66,  Series 82, and Series 99.

 

 

 

 

 

Bob owns convertible preferred stock in BigCo. Which of the following is a taxable event for Bob?
 
A. He converts it into common stock
B. Due to a corporate restructuring, he receives additional shares
C. He receives a cash dividend that is less than the amount that the share price declined last quarter

D. Due to a corporate merger, his shares are exchanged for shares in LargerCo

Answer: C. Receiving a dividend (even a qualified dividend) is a taxable event. When a company merges with another company, it may give its shareholders stock in a new company in exchange for the stock they currently hold. This is usually not a taxable event, meaning the shareholder does not have to pay taxes on the new shares at the time of the exchange. Moreover, if the company gives shares of common or preferred stock to shareholders because of a corporate restructuring or bankruptcy, this is also not a taxable event. Additionally, the conversion of convertible preferred stock (or bonds) to common stock is not a taxable event.