Wiley Series 9 Exam Review 2016 + Test Bank: The General Securities Sales Supervisor Qualification Examination--Option Module(Wiley FINRA)

The go-to guide to acing the Series 9 Exam! Passing the General Securities Sales Supervisor Qualification Exam (Series 9 and 10) qualifies an individual to supervise a firm's sales activities in corporate, municipal, and option securities; investment company products; variable contracts; and direct participation programs. The exam covers the full range of topics related to options regulation. All candidates must have passed the Series 7 prior to taking the Series 9. Created by the experts at The Securities Institute of America, Inc., Wiley Series 9 Exam Review 2016 arms you with everything you need to pass this ninety-minute, 55-question test. Designed to help you build and fine-tune your knowledge of all areas covered in the exam and to guarantee that you're prepared mentally and strategically to take the test, it provides: Dozens of examples Assorted practice questions for each subject area covered in the exam Priceless test-taking tips and strategies Helpful hints on how to study for the test, manage stress, and stay focused Wiley Series 9 Exam Review 2016 is your ticket to passing the Series 9 test on the first try—with flying colors!

Table of Contents:
ABOUT THE SERIES 9 EXAM ix ABOUT THIS BOOK xiii ABOUT THE TEST BANK xv ABOUT THE SECURITIES INSTITUTE OF AMERICA xvii CHAPTER 1 OPTION BASICS 1 Option Classification 1 Bullish vs. Bearish 2 Possible Outcomes for an Option 3 Exercise Price 4 Characteristics of All Options 4 Managing an Option Position 4 Buying Calls 5 Selling Calls 6 Buying Puts 8 Selling Puts 9 Option Premiums 11 Intrinsic Value and Time Value 13 Pretest 15 CHAPTER 2 OPTION STRATEGIES 19 Using Options as a Hedge 19 Long Stock Long Puts/Married Puts 19 Long Stock Short Calls/Covered Calls 21 Short Stock Long Calls 24 Short Stock Short Puts 27 Multiple Option Positions and Strategies 29 Spreads 34 Analyzing Price Spreads 36 Using a T Chart to Evaluate Option Positions 49 Pretest 55 CHAPTER 3 INDEX, INTEREST RATE, AND CURRENCY OPTIONS 59 Index Options 59 Interest Rate Options 62 Currency Markets 64 Market Volatility Options (VIX) 67 Flex Options 68 Weekly Options 68 Binary Options 69 Pretest 71 CHAPTER 4 THE OPTIONS MARKETPLACE 75 The Option Clearing Corporation 75 The Options Markets 76 The Chicago Board Option Exchange 77 Opening and Closing Option Prices 79 Fast Markets and Trading Halts 79 Order Execution 80 Types of Orders 80 Priority of Option Orders 83 Trade Reporting 83 Option Order Tickets 84 Expiration and Exercise 85 American vs. European Exercise 85 Position and Exercise Limits 86 Stock Splits and Stock Dividends 86 Pretest 89 CHAPTER 5 OPTION TAXATION AND MARGIN REQUIREMENTS 93 Taxation of Options 93 Option Contract Margin Requirements 95 Pretest 99 CHAPTER 6 OPTION COMPLIANCE AND ACCOUNT SUPERVISION 103 Duties of the ROSFP 103 Option Account Compliance 104 Option Agreements 106 Option Account Supervision 107 Large Option Position Reporting Requirements 108 Customer Confirmations and Account Statements 109 Customer Complaints 110 Communications with the Public 111 FINRA Rule 2210 Communications with the Public 112 Pretest 115 ANSWER KEYS 119 GLOSSARY OF EXAM TERMS 125 INDEX 191

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