Series 7 Practice Test 15

10 free Series 7 practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

Series 7 Practice Test 15Tutor mode

Question 1 of 10

Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records

A customer bought 100 shares of a closed-end fund at $20 per share. The fund later paid $1.50 per share, designated entirely as a return of capital. Two years after buying, she sells the shares at $22. What is her capital gain on the sale?