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Free Series 99 – Operations Professional Exam Exam Questions and Answers

Last updated: March 31, 2025

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Series 99 – Operations Professional Exam

#Question
Which of the following best describes index funds?
A.
Actively managed portfolios
B.
Investment strategies designed for speculation
C.
Funds that track a specific market index
D.
Only diversifying across international assets
Correct Answer: C
Index funds are mutual funds or ETFs that aim to replicate the performance of a specific market index, typically with lower management costs.

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Which of the following best describes index funds?


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#Question
Under what scenario might an investor opt for a bond over a stock?
A.
Seeking fixed income
B.
Need for daily liquidity
C.
High-risk appetite
D.
Desire for capital gains
Correct Answer: A
An investor might opt for a bond if seeking fixed income, as bonds typically provide steady interest payments compared to stocks.

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Under what scenario might an investor opt for a bond over a stock?


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#Question
What is meant by the term "float" in finance?
A.
The number of shares issued by a company
B.
The price difference between buying and selling
C.
The time between the payment date and the transaction date
D.
The amount of cash on hand
Correct Answer: C
Float refers to the time between a transaction date and the actual payment clearing, affecting liquidity for both buyers and sellers.

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What is meant by the term "float" in finance?


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#Question
What is the common strategy that hedge funds often pursue?
A.
Long-term holdings only
B.
Maintaining cash positions exclusively
C.
Using varied market strategies, including short selling
D.
Avoiding any risk exposure
Correct Answer: C
Hedge funds often pursue various market strategies, including short selling, to maximize returns regardless of market direction.

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What is the common strategy that hedge funds often pursue?


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#Question
When must a financial institution assess a customer's risk profile?
A.
Upon account opening and periodically thereafter
B.
After significant market changes
C.
Only when requested by the client
D.
Only at account closure
Correct Answer: A
A financial institution must assess a customer's risk profile upon account opening and periodically thereafter to ensure ongoing suitability.

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When must a financial institution assess a customer's risk profile?


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#Question
What is the main purpose of a financial disclosure statement for a business entity?
A.
To provide transparent operational metrics
B.
To attract investors
C.
To comply with tax laws
D.
To enhance marketing strategies
Correct Answer: A
A financial disclosure statement aims to provide transparent operational metrics that reflect the financial health of the business entity.

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#Question
What role does the "due diligence" process play in private investments?
A.
Keeps expenses low
B.
Guarantees profits
C.
Assesses risks and value
D.
Ensures trades are executed correctly
Correct Answer: C
The due diligence process assesses the risks and potential value of private investments before committing capital.

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