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Series 66 NASAA Uniform Combined State Law Examination - Blogs Sample Questions

If an investor purchases 500 shares of stock at $5 per share several years ago and now receives $15 per share when selling all of his shares, he will record a capital gain of

Correct Answer:

to determine the correct capital gain from the sale of stock, it is essential to understand the concept of capital gains in investments. a capital gain is the profit made from the sale of assets like stocks, bonds, or real estate, when the selling price exceeds the purchase price. this profit is calculated as the difference between the higher selling price and the lower purchase price of the asset.

in the scenario provided, an investor initially purchases 500 shares of stock at a price of $5 per share. the total cost of these shares is $5 * 500 = $2500. several years later, the investor sells all 500 shares at a price of $15 per share, yielding a total of $15 * 500 = $7500 from the sale.

to find the capital gain, subtract the original purchase price from the sale price. the gain per share is calculated as $15 (selling price per share) - $5 (purchase price per share) = $10 gain per share. since this gain applies to each of the 500 shares sold, the total capital gain is $10 * 500 = $5000.

it is important to note that this gain assumes that all shares are sold and that there are no additional costs or taxes considered in the transaction. the $5000 represents the total capital gain before any potential taxes or fees that might apply depending on the investor's tax situation and the specific investment regulations.

therefore, the correct answer to the question of how much capital gain the investor records is $5000. this figure reflects the basic calculation of gains from securities trading, highlighting the increase in value of the shares from the time of purchase to the time of sale.

Which of the following would NOT be an example of market manipulation?

Correct Answer:
market research

market research is the process of gathering, analyzing, and interpreting information about a market, including information about the needs, preferences, and behaviors of consumers and competitors. it is a legitimate and necessary business practice used to understand market trends, determine market opportunities, and develop strategies for marketing and sales. market research can involve surveys, interviews, and analysis of consumer data, and is aimed at making better business decisions based on actual market insights.

on the other hand, market manipulation refers to activities that are designed to interfere with the fair and efficient operation of the financial markets. these activities are generally illegal and unethical, aimed at creating artificial, misleading, or false impressions of the price, supply, or demand of a security or other financial instrument. examples of market manipulation include front running, trading ahead, and wash sales.

front running occurs when a broker or other market participant executes orders on a security for its own account while taking advantage of advance knowledge of pending orders from its customers. by doing so, the broker can profit from the price movements that will result from the large orders it is aware of.

trading ahead, similar to front running, involves trading securities with advance knowledge of future transactions that are likely to influence their prices. it often refers to brokers executing their own trades before executing client orders that could affect the same securities.

wash sales involve a deceptive practice where an investor sells a security at a loss and then repurchases the same or substantially similar security shortly after. this practice is typically used to create misleading artificial activity in the security, enabling the investor to claim tax benefits illegally.

in summary, while market research is a legitimate tool used by businesses to guide their decisions and strategies based on real market data, market manipulation involves deceptive practices that aim to distort the financial markets for personal or corporate gain. the former is essential for competitive business operations, whereas the latter is illegal and harmful to the integrity of financial markets.

Additional Blogs for FINRA - Financial Industry Regulatory Authority dfgdfgdfg

In your journey to get Series 66 NASAA Uniform Combined State Law Examination certified it is important for you to have all information related to your exam. So we have pulled together a list of additional blogs that may be of interest to you because that are all related to the Financial Industry Regulatory Authority.

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