CANNON FINANCIAL INSTITUTE CFIRs
EXAM WITH VERIFIED QUESTIONS AND
ANSWERS|| GUARANTEED PASS||
ALREADY GRADED A|| LATEST VERSION
2026
"Which regulatory agency is empowered to relieve a fiduciary from a breach of
fiduciary duty with regard to Employee Benefit Plans?
a. Internal Revenue Service.
b. Office of the Comptroller of the Currency.
c. Department of Labor.
d. Federal Reserve Bank.
" - ANSWER-C
"State laws concerning the registration and issuance of securities are known as:
a. state registration mandates.
b. blue sky laws.
c. open territory laws.
d. state market guidelines.
," - ANSWER-B
"What act is sometimes called the ""truth in securities"" act?
a. National Bank Act of 1934
b. Securities Act of 1933
c. Trust Indenture Act of 1939
d. Federal Reserve Act of 1913
" - ANSWER-B
"The Federal Reserve Board affects securities transactions by:
a. restricting the use of credit for securities purchases.
b. setting the discount rate.
c. allowing commercial banks to purchase securities issued under a qualified
indenture.
d. defining the portion of bank's investment portfolio that may be comprised of
debt securities.
" - ANSWER-A
"When a broker-dealer is acting in the capacity of a dealer and buying or selling
for its own account, the firm is acting as a(n):
a. agent
b. intermediary
c. principal
d. broker
," - ANSWER-C
"In the exchange markets, the bid represents the:
a. Lowest price at which broker is willing to buy at a given moment in time
b. Lowest price at which broker is willing to sell at a given moment in time
c. Highest price at which broker is willing to buy at a given moment in time
d. Highest price at which broker is willing to sell at a given moment in time
" - ANSWER-C
"Agent is synonymous with the term ___ and means purchasing or selling for
___.
a. Dealer/its own account
b. Broker/a customer
c. Both a and b
d. Neither a or b
" - ANSWER-B
"A round lot of a stock trade is defined in the securities industry as how many
shares?
a. 1,000 shares
b. 100 shares
c. 50 shares
, d. 10 shares
" - ANSWER-B
"The over the counter market (OTC) is used to describe trading securities that:
a. Do not take place on an exchange.
b. Use a telecommunications network.
c. Involve a negotiation process of bid and ask.
d. All of the above.
" - ANSWER-D
"NASDAQ is a(n):
a. Live Auction Market
b. Dynamic Market
c. Static method of communication that updates quotes when transactions are
made
d. Electronic method of communication that provides quotes on certain OTC
securities.
" - ANSWER-D
"The FIRST step in the trade order process is trade:
a. affirmation
b. confirmation
c. execution
EXAM WITH VERIFIED QUESTIONS AND
ANSWERS|| GUARANTEED PASS||
ALREADY GRADED A|| LATEST VERSION
2026
"Which regulatory agency is empowered to relieve a fiduciary from a breach of
fiduciary duty with regard to Employee Benefit Plans?
a. Internal Revenue Service.
b. Office of the Comptroller of the Currency.
c. Department of Labor.
d. Federal Reserve Bank.
" - ANSWER-C
"State laws concerning the registration and issuance of securities are known as:
a. state registration mandates.
b. blue sky laws.
c. open territory laws.
d. state market guidelines.
," - ANSWER-B
"What act is sometimes called the ""truth in securities"" act?
a. National Bank Act of 1934
b. Securities Act of 1933
c. Trust Indenture Act of 1939
d. Federal Reserve Act of 1913
" - ANSWER-B
"The Federal Reserve Board affects securities transactions by:
a. restricting the use of credit for securities purchases.
b. setting the discount rate.
c. allowing commercial banks to purchase securities issued under a qualified
indenture.
d. defining the portion of bank's investment portfolio that may be comprised of
debt securities.
" - ANSWER-A
"When a broker-dealer is acting in the capacity of a dealer and buying or selling
for its own account, the firm is acting as a(n):
a. agent
b. intermediary
c. principal
d. broker
," - ANSWER-C
"In the exchange markets, the bid represents the:
a. Lowest price at which broker is willing to buy at a given moment in time
b. Lowest price at which broker is willing to sell at a given moment in time
c. Highest price at which broker is willing to buy at a given moment in time
d. Highest price at which broker is willing to sell at a given moment in time
" - ANSWER-C
"Agent is synonymous with the term ___ and means purchasing or selling for
___.
a. Dealer/its own account
b. Broker/a customer
c. Both a and b
d. Neither a or b
" - ANSWER-B
"A round lot of a stock trade is defined in the securities industry as how many
shares?
a. 1,000 shares
b. 100 shares
c. 50 shares
, d. 10 shares
" - ANSWER-B
"The over the counter market (OTC) is used to describe trading securities that:
a. Do not take place on an exchange.
b. Use a telecommunications network.
c. Involve a negotiation process of bid and ask.
d. All of the above.
" - ANSWER-D
"NASDAQ is a(n):
a. Live Auction Market
b. Dynamic Market
c. Static method of communication that updates quotes when transactions are
made
d. Electronic method of communication that provides quotes on certain OTC
securities.
" - ANSWER-D
"The FIRST step in the trade order process is trade:
a. affirmation
b. confirmation
c. execution
