Wiley Series 9 Exam Review 2015 + Test Bank
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Wiley Series 9 Exam Review 2015 + Test Bank The General Securities Sales Supervisor Qualification Examination--Option Module

By Jeff Van Blarcom
John Wiley & Sons October 2014

Specifications

ISBN-13
9781118857113
Publisher
John Wiley & Sons
Publication
October 2014
Format
Paperback , 216 pages
Jurisdiction
U.S. ? Countri(es) for reference only

Details

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 2015 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 2015 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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