Series 66 - I's

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Series 66 - I's
2014-02-27 14:49:14
Series 66

Series 66 terms and definitions
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  1. An order which must be filled immediately, however a partial execution is allowed.
    Immediate or Cancel Order
  2. Refers to a situation where a company is expected to be taken over at a higher place.
    In Play
  3. Legal document which protects the rights of the bondholders. The indenture is a formal agreement between the issuer of the bonds and the bondholder.
  4. refers to a general increase in the price of goods and services. Lower interest rates generally contribute to ___, while higher interest rates slow down ___. If the economy is operating at full employment and demand increases, inflation will increase. ____ reduces an individual's purchasing power.
  5. It is the first time a corporation's stock is being sold to the public.
    Initial Public Offering (IPO)
  6. Represents the highest bid and lowest ask price available in a security.
    Inside Market
  7. refers to a person with access to inside information (material non-public information). An ___ is normally by definition an officer, director, or principal stockholder.
  8. A prohibited practice in the securities in which an individual trades on material non-public information.
    Insider Trading
  9. A trading system in which large blocks of securities can be traded directly by institutional investors, such as banks, insurance companies and pension funds. For example, a mutual fund may buy securities directly from a life insurance company's portfolio.
  10. Municipal bonds where the interest and principal payments are insured by an agency such as MBIA, AMBAC, FGIC or Bond Investor's Guarantee (BIG).
    ____ ____ bonds normally carry a AAA rating.
    Insured Municipal Bonds
  11. Costs in an oil and gas program, such as labor, supplies, fuel, repairs, which are deductible but have no salvage value. These costs represent the major portion of the first year's deductions.
    Intangible Drilling Costs
  12. The secondary market for foreign currency transactions between large commercial banks in major financial centers around the world.
    Inter-Bank Market for Foreign Currencies
  13. A securities offering by an issuer in which the entire issue is sold exclusively in one state.
    Intra-State Offering
  14. The amount of an option contract is "in-the-money". If an option contract is out-of-the-money, it has no ___ ___.
    Intrinsic Value
  15. An individual who is employed by or associated with a state-registered investment advisor. The term also refers to an individual who has a place of business in the state and is employed by or associated with a federal covered advisor.
    Investment Advisor Representative
  16. give advice to persons concerning securities for compensation.  Exemption from registration is available to LATE whose performance is incidental to the practice of their profession. Also, broker/dealers and stockbrokers are exempt in the normal course of their activities provided they receive no special compensation for the investment advice. A stockbroker who is paid a commission on a normal securities transaction solicited or unsolicited, is not considered an investment advisor relating to that transaction.
    Investment Advisors
  17. Federal law requiring investment advisor to register with the SEC.
    Investment Advisors Act of 1940
  18. A group of investors who pool their money to follow a common investment program. ___ ___ are generally not eligible for quantity discounts on mutual fund purchases.
    Investment Club
  19. The Federal Securities Act which regulates the operations of investment companies.
    Investment Company Act of 1940
  20. Any person who issues or proposes to issue any security.
  21. measures the change in consumer prices on a monthly basis.
    Consumer Price Index (CPI)
  22. The Management Company Act of 1940 regulates investment companies concerning:
    • Capitalization
    • Membership on the Board of Directors
    • Trading with affiliated persons or underwrites
    • Information required on a Registration Statement and prospectus
    • Borrowing by investment companies
    • Sales charges
    • Redemption of shares
    • Custodial protection of assets
    • Contractual requirements with an investment advisor.
  23. The Investment Company Act of 1940 classified investment companies into three categories:
    • Face Amount Certificate Company
    • Unit Investment Trust
    • Management Company
  24. is a person who owns 10% or more of an equity security of the corporation.
    principal stockholder
  25. is a profit made by an insider on his own company's stock, held six months or less
    short-term swing
  26. Trading through the Instinet System is referred to as
    trading in the fourth market
  27. are prohibited from short-term swings in their own company's stock. are also prohibited from selling his own company's stock short or