Finra Exam Series-7 Topic 3 Question 110 Discussion

Actual exam question for Finra's Series-7 exam

Question #: 110
Topic #: 3

[All Series-7 Questions]

A mutual fund letter of intent may permissibly be predated for a period of time up to:

A5 business days

B10 business days

C90 calendar days

D13 months

Show Suggested Answer

Suggested Answer: C

90 calendar days. An investor has 90 days from the date of original purchase to sign a letter of intent. The maximum duration for the letter is 13 months from the initial purchase.

by Michell at Apr 09, 2025, 09:20 AM

Limited Time Offer

25%

Off

Get Premium Series-7 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Gladis

1 months ago

Ah, the good old mutual fund letter of intent predate conundrum. I'm sure option C) is the right answer, unless it's a trick question. *chuckles*

upvoted 0 times

Laticia

15 hours ago

I agree, it seems like the most reasonable choice.

upvoted 0 times

...

Buck

4 days ago

I think you're right, option C) 90 calendar days sounds like the correct answer.

upvoted 0 times

...

Lonny

1 months ago

10 business days? That seems way too short. I'm going with C) 90 calendar days.

upvoted 0 times

Eric

14 days ago

I'm also going with C) 90 calendar days. It seems like the most reasonable choice.

upvoted 0 times

...

Cletus

23 days ago

I think C) 90 calendar days is the safest option. It gives more flexibility in case of any delays.

upvoted 0 times

...

Laurel

1 months ago

I agree, 10 business days does seem short. I also think C) 90 calendar days is the correct choice.

upvoted 0 times

...

Glennis

2 months ago

Hmm, I thought it was 13 months. Oh well, better double-check the details on that one.

upvoted 0 times

Annette

14 days ago

Let's look it up to be sure before making any decisions.

upvoted 0 times

...

Willis

16 days ago

Are you sure? I remember reading somewhere that it's 10 business days.

upvoted 0 times

...

Aliza

24 days ago

I think it's actually 90 calendar days, not 13 months.

upvoted 0 times

...

Rene

2 months ago

Definitely C) 90 calendar days. That's the maximum allowed for predating a mutual fund letter of intent.

upvoted 0 times

Sharita

14 days ago

Always best to stay compliant with regulations to avoid any penalties.

upvoted 0 times

...

Ardella

25 days ago

Yes, it helps to prevent any potential issues or misunderstandings.

upvoted 0 times

...

Jettie

1 months ago

It's important to follow the rules when it comes to mutual fund transactions.

upvoted 0 times

...

Annabelle

1 months ago

I agree, C) 90 calendar days is the maximum allowed for predating a mutual fund letter of intent.

upvoted 0 times

...

Ligia

2 months ago

I see your point, but I still think A) 5 business days makes more sense.

upvoted 0 times

...

Jackie

2 months ago

I disagree, I believe the correct answer is B) 10 business days.

upvoted 0 times

...

Ligia

2 months ago

I think the answer is A) 5 business days.

upvoted 0 times

...