Free practice test

Financial Services Sales Agent Practice Test

Check what you know about the financial services sales agent job with 15 free questions and instant explanations.

Updated By the Career Education Institute Curriculum Team
About this practice test

15 multiple-choice questions on financial services sales agent knowledge, safety and vocabulary. Submit to see your score and explanations, or open any question’s answer as you go. Nothing is saved or shared.

Question 1 of 15A bond is:
Show answer

Answer: A loan to a company or government. Bonds are loans.

Question 2 of 15Diversification:
Show answer

Answer: Spreads risk. It reduces concentration.

Question 3 of 15FINRA regulates:
Show answer

Answer: Broker-dealers. It oversees broker-dealers.

Question 4 of 15The Series 7 is:
Show answer

Answer: A securities license exam. General securities representative exam.

Question 5 of 15KYC means:
Show answer

Answer: Know your customer. Collect client information.

Question 6 of 15Which term matches this definition: “A collection of investments.”
Show answer

Answer: Portfolio. Portfolio: A collection of investments.

Question 7 of 15What does “Fiduciary” mean?
Show answer

Answer: Acting in a client’s best interest.. Fiduciary: Acting in a client’s best interest.

Question 8 of 15Which term matches this definition: “Individual retirement account.”
Show answer

Answer: IRA. IRA: Individual retirement account.

Question 9 of 15What does “Rebalancing” mean?
Show answer

Answer: Restoring target allocations.. Rebalancing: Restoring target allocations.

Question 10 of 15Which term matches this definition: “Mixing asset types to manage risk.”
Show answer

Answer: Asset allocation. Asset allocation: Mixing asset types to manage risk.

Question 11 of 15What does “ETF” mean?
Show answer

Answer: Exchange-traded fund.. ETF: Exchange-traded fund.

Question 12 of 15Which term matches this definition: “Fee earned on transactions.”
Show answer

Answer: Commission. Commission: Fee earned on transactions.

Question 13 of 15What does “Mutual fund” mean?
Show answer

Answer: A pooled investment.. Mutual fund: A pooled investment.

Question 14 of 15Which term matches this definition: “A loan to a company or government.”
Show answer

Answer: Bond. Bond: A loan to a company or government.

Question 15 of 15What does “Regulation Best Interest” mean?
Show answer

Answer: SEC rule for broker recommendations.. Regulation Best Interest: SEC rule for broker recommendations.

How to study

View training