Finra Series-6 Exam - Topic 1 Question 68 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 68
Topic #: 1

Mr. Investor has purchased 100 shares of the common stock of the Everyman Corporation. As such, which of the following is not a right that Mr. Investor has?

Athe right to receive dividends, if declared

Bthe right to vote on the members of Everyman's board of directors

Cthe right to vote on any proposed changes to the corporate bylaws

Dthe right to vote on the purchase of a major piece of property that Everyman is considering

Show Suggested Answer

Suggested Answer: A

Among other things, the trade confirmation that Anna receives must stipulate the items described in Selections I and III only. The trade confirmation that Anna receives from GetErDone must stipulate the time and date of the transaction, the number of shares sold, and the price at which they were sold. The exchange or ECN on which the transaction was executed is not provided on the confirmation statement. Whether GetErDone acted as a principal or a broker in the transaction does need to be stipulated, but in this instance GetErDone acted as a broker, not a principal. GetErDone did not itself buy the shares from Anna.

by Willard at Dec 10, 2023, 12:23 AM

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Ilene

5 months ago

I thought shareholders had a say in everything, but I guess not!

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Helga

5 months ago

I agree, D is the right answer!

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Rosina

5 months ago

Wait, can shareholders really vote on property purchases? Sounds odd.

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Marguerita

5 months ago

Definitely not D, that’s not a typical shareholder right.

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Anissa

5 months ago

Mr. Investor has voting rights on the board and bylaws.

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Marlon

6 months ago

I’m pretty confident that voting on board members and bylaws is standard, but I’m a bit hazy on the property issue.

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Jonell

6 months ago

This question feels familiar; I think the right to vote on major purchases isn't typically granted to all shareholders.

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Chuck

6 months ago

I think all shareholders have the right to vote on board members and bylaws, but the property purchase might be different.

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Lyla

6 months ago

I remember studying shareholder rights, but I'm not entirely sure about the specifics of voting on property purchases.

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Eric

6 months ago

Easy peasy! The right to vote on a major property purchase is not one of the standard shareholder rights, so that's the answer I'll go with.

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Nida

6 months ago

Okay, I've got this. As a common shareholder, Mr. Investor would have the right to receive dividends, vote on directors, and vote on bylaw changes. The option that is not a right is the vote on a major property purchase.

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Luis

6 months ago

Hmm, I'm a bit unsure about this one. I know shareholders have certain voting rights, but I'm not totally clear on the specifics. I'll need to think it through step-by-step.

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Queen

6 months ago

This seems like a straightforward question about shareholder rights. I'll need to carefully review the options and think through which right Mr. Investor would not have as a common shareholder.

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Dick

6 months ago

Fast transmission and the ability to transmit the whole data packet seem like important advantages here. I'll double-check the other options, but those are the ones that stand out to me.

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Winifred

6 months ago

This reminds me of a practice question we did where the right answer was that eye contact isnâ€™t a definitive sign of lying.

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Alonso

11 months ago

Option D is the correct answer, hands down. Unless Mr. Investor wants to start his own company, he should leave the major purchases to the experts.

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Eladia

9 months ago

D) the right to vote on the purchase of a major piece of property that Everyman is considering

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Rima

9 months ago

C) the right to vote on any proposed changes to the corporate bylaws

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Elliot

9 months ago

B) the right to vote on the members of Everyman's board of directors

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Pearly

9 months ago

A) the right to receive dividends, if declared

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Francoise

11 months ago

Option D, definitely. Mr. Investor may be the owner of 100 shares, but he's not the CEO. Let the professionals handle the big decisions!

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Matthew

10 months ago

C) the right to vote on any proposed changes to the corporate bylaws

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Macy

10 months ago

B) the right to vote on the members of Everyman's board of directors

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Leah

10 months ago

C) the right to vote on any proposed changes to the corporate bylaws

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Abel

10 months ago

A) the right to receive dividends, if declared

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Heidy

11 months ago

B) the right to vote on the members of Everyman's board of directors

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Maybelle

11 months ago

A) the right to receive dividends, if declared

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Sherita

12 months ago

Option D, no doubt. Shareholders don't need to be micromanaging the company's every move. That's what the board of directors is for!

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Serita

10 months ago

D) the right to vote on the purchase of a major piece of property that Everyman is considering

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Shanda

10 months ago

C) the right to vote on any proposed changes to the corporate bylaws

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Nickolas

11 months ago

B) the right to vote on the members of Everyman's board of directors

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Ashton

11 months ago

A) the right to receive dividends, if declared

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Gerri

12 months ago

I'm not sure about this question, but I think C) the right to vote on any proposed changes to the corporate bylaws is also not a right that Mr. Investor has.

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Maryann

12 months ago

I agree with Nikita, because as a common stockholder, Mr. Investor does not have the right to vote on major decisions like property purchases.

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Nikita

12 months ago

I think the answer is D) the right to vote on the purchase of a major piece of property.

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Paola

12 months ago

Hmm, this one's tricky. I'm tempted to say Option C, but I think Option D is the best choice here.

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Barb

11 months ago

I agree, Option C seems to be the right choice.

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Alex

11 months ago

I think Option C is the correct answer.

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Dierdre

11 months ago

I agree, Option D seems to be the best choice.

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Milly

11 months ago

I think Option D is correct.

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Anna

12 months ago

I agree, the shareholders don't get a say in every little thing the company does. That would just be chaos! Option D is the way to go.

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Glennis

12 months ago

I'm not sure, but I think it's C. Shareholders usually have a say in changes to the bylaws.

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Minna

1 year ago

I agree with Kiley. Shareholders don't typically vote on specific property purchases.

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Lauran

1 year ago

Option D is clearly the correct answer. As a shareholder, Mr. Investor doesn't have the right to vote on day-to-day business decisions like purchasing property.

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Lashawnda

10 months ago

Option D is clearly the correct answer. As a shareholder, Mr. Investor doesn't have the right to vote on day-to-day business decisions like purchasing property.

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