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Finra Series-7 Exam - Topic 3 Question 110 Discussion

A mutual fund letter of intent may permissibly be predated for a period of time up to:
C) 90 calendar days
A) 5 business days
B) 10 business days
D) 13 months

Finra Series-7 Exam - 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:

Show Suggested Answer Hide 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

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Vi
7 months ago
13 months? That seems way too long!
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Clorinda
7 months ago
Definitely 5 business days!
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Angella
7 months ago
I thought it was only 10 business days.
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Nida
7 months ago
It's actually 90 calendar days, just checked!
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Vonda
8 months ago
It's 90 calendar days, right?
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Yuki
8 months ago
I’m leaning towards 10 business days, but I might be mixing it up with another topic we covered.
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Laquita
8 months ago
I’m a bit confused about the options. I feel like it could be 5 business days, but I also recall something about 90 days.
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Barrie
8 months ago
I remember practicing a question like this, and I think it was 10 business days. That sounds familiar.
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Nichelle
9 months ago
I think the predate period for a mutual fund letter of intent is 90 calendar days, but I'm not entirely sure.
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Ira
9 months ago
Wait, I'm a little confused. Is this asking about the maximum time period for the letter of intent itself, or just for predating it? I'll need to think through the distinction there before I can answer this one.
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Aretha
9 months ago
Okay, I've got this. The key is understanding that a mutual fund letter of intent can be predated, and the question is asking about the maximum time period allowed for that. I'm confident the correct answer is 90 calendar days.
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Aimee
9 months ago
Hmm, this is a tricky one. I'm not totally familiar with the rules around mutual fund letters of intent, so I'll need to review that section of the material carefully before answering.
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Honey
9 months ago
I'm pretty sure this is asking about the maximum time period for predating a mutual fund letter of intent. I think the answer is either 5 business days or 90 calendar days, but I'll need to double-check the details.
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Gladis
1 year 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*
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Shawnda
1 year ago
I'm not sure, but option C) does make sense based on what you said.
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Laticia
1 year ago
I agree, it seems like the most reasonable choice.
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Buck
1 year ago
I think you're right, option C) 90 calendar days sounds like the correct answer.
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Lonny
1 year ago
10 business days? That seems way too short. I'm going with C) 90 calendar days.
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Eric
1 year ago
I'm also going with C) 90 calendar days. It seems like the most reasonable choice.
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Cletus
1 year ago
I think C) 90 calendar days is the safest option. It gives more flexibility in case of any delays.
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Laurel
1 year ago
I agree, 10 business days does seem short. I also think C) 90 calendar days is the correct choice.
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Glennis
1 year ago
Hmm, I thought it was 13 months. Oh well, better double-check the details on that one.
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Annette
1 year ago
Let's look it up to be sure before making any decisions.
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Willis
1 year ago
Are you sure? I remember reading somewhere that it's 10 business days.
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Aliza
1 year ago
I think it's actually 90 calendar days, not 13 months.
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Rene
1 year ago
Definitely C) 90 calendar days. That's the maximum allowed for predating a mutual fund letter of intent.
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Sharita
1 year ago
Always best to stay compliant with regulations to avoid any penalties.
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Ardella
1 year ago
Yes, it helps to prevent any potential issues or misunderstandings.
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Jettie
1 year ago
It's important to follow the rules when it comes to mutual fund transactions.
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Annabelle
1 year ago
I agree, C) 90 calendar days is the maximum allowed for predating a mutual fund letter of intent.
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Ligia
1 year ago
I see your point, but I still think A) 5 business days makes more sense.
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Jackie
1 year ago
I disagree, I believe the correct answer is B) 10 business days.
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Ligia
1 year ago
I think the answer is A) 5 business days.
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