Series 66 - U's V's W's Y's and Z's

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Series 66 - U's V's W's Y's and Z's
2014-02-25 23:19:01
Series 66

Series 66 terms and defintions
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  1. These are bonds issued by the U.S. Treasury. They are non-marketable and non-transferable and cannot be used as collateral for a loan.
    U.S. Savings Bonds (EE and HH)
  2. Registered representatives entering the securities industry must complete a __ ___ describing their background and business history. The __ ___is sent to the NASD and state securities agencies to register the individuals.
    U-4 Form
  3. This allows a minor to own securities and have a custodian manage the account for the benefit of the minor. A donor makes a gift of cash or securities to the minor. The donor appoints the custodian, who manages the account. When the minor reaches majority, any cash and securities in the account must be transferred to him.
    Uniform Gifts to Minors Act or Uniform Transfer to Minors Act
  5. It is the difference between the public offering price and the proceeds to the issuer. For example, if the public offering price is $15 and the proceeds to the issuer is $13.80, the ____ ___ is $1.20.
    Underwriting Spread
  6. One of three types of investment companies with no management fee and a low percentage sales charge that invests in a fixed portfolio of  corporate or municipal bonds.
    Unit Investment Trust
  7. Stock that has never been registered under the 1933 Act. To legally sell these shares, they must either registered or sold under Rule 144.
    Unregistered Stock
  8. An order taken from a customer where the customer decides what security to buy or sell and the broker merely executes it at the direction of the customer.
    Unsolicited Order
  9. The interest rate on the bond will change according to a formula or index which is described in the indenture. A ___ ___ ___ ___ protects against price declines due to rising interest rates.
    Variable Rate Municipal Bond
  10. Also referred to as a "Floating Rate Municipal Bond".
    Variable Rate Municipal Bond
  11. Selling a security at a loss and within a period, beginning 30 days before the sale and ending 30 days after the sale, purchases the same or substantially the same security. __ ___ losses done within the 30 day period are disallowed for tax purposes.
    Wash Sale
  12. A security which will expire in the future. Options are ___  ___ since they will eventually be worthless. An oil well is also a ___ ____ since it will go dry.
    Wasting Asset
  13. Trading takes place in the security even though it has not yet been issued.
    When, As and If Issued Contract
  14. Current Assets minus Current Liabilities.
    Working Capital
  15. Defined as a range within which a dealer believes it would be possible to obtain security within a reasonable period of time.
    Workout Market
  16. Wholesale corporate bond prices are contained in the ___  ____.
    Yellow Sheets
  17. CBOE Interest Rate Options are options based on the yield of U.S. Treasury securities (Bills, Notes, and Bonds). If a rise in interest rates is expected, an investor would buy calls and if a decline in interest rates is expected, an investor would buy puts.
    Yield Based Options
  18. A ___  ___shows yields as a function of maturities on a graph. A normal or positive sloping ___ ___ slopes upward from the shortest maturity to the longest.
    Yield Curves
  19. Also referred to as the "Basis Price" of a bond. The ___ __ ____takes into consideration the gain or loss on the principal as well as the interest paid on the bond. For example, a 5% bond with a yield to maturity basis price of 6.25% must be selling at a discount from par.
    Yield to Maturity
  20. Bonds issued at a deep discount where all interest is paid at maturity.The accreted interest is taxable to the investor each year, except for Zero Coupon Municipals.
    Zero Coupon Bonds
  21. The term "___ __ ___" refers to a situation where one customer's gain is matched by another customer's loss. Transactions in option contracts can be referred to as a "___ __ ___".
    Zero-Sum Game
  22. ___ bonds are purchased at a discount from par with denominations from $50 to $10,000.
    EE bonds
  23. ___ bonds are sold at face value and interest is paid semi-annually by check.
    Series HH Bonds