28. Margin trading involves:

a) Buying securities with borrowed funds

b) Trading securities on the OTC market

c) Investing in low-risk, low-return assets

d) Trading securities using limit orders only

29. The process of "marking to market" in futures trading involves:

a) Adjusting the price of a security to reflect its fair value

b) Liquidating securities to cover losses

c) Adjusting contract

terms to match market conditions

d) Reevaluating the value of a position based on current market prices

30. The North American Securities Administrators Association (NASAA) is primarily responsible for:

a) Regulating stock exchanges

b) Overseeing mutual funds

c) Coordinating state-level regulation of securities offerings

d) Regulating international securities transactions

31. What is the primary difference between a full-service brokerage and a discount brokerage?

a) Fees charged for trading services

b) Range of investment products offered

c) Availability of financial advice and research

d) Regulatory oversight and compliance requirements