A series 6 Sample Question

Here is an example of a series 6 test question:

A corporation announces on May 7th that it will pay a dividend to holders of record as of July 16th. If a transaction is made on Monday July 14th:

A) The buyer will receive a due bill for the dividend.

B) The buyer will receive the dividend when it is distributed.

C) The seller will receive the dividend.

D) The seller will receive a due bill.

C) Monday July 14 is the ex dividend date. Therefore the buyer will not be an owner of record on the record date and the seller will be entitled to receive the dividend.

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