FINRA Series 7 – General Securities Representative — Question 11

How much currency is one mil worth?

Answer options

• A. one-tenth of one cent
• B. one-tenth of $1
• C. one-tenth of $100
• D. one-tenth of $1,000

Correct answer: B

Explanation

The correct answer is B, as one mil is defined as one-tenth of a dollar, equating to 0.1 dollars. The other options are incorrect as they represent different fractional values of one cent, one hundred dollars, and one thousand dollars, respectively.