Canadian Securities Course (CSC) Practice Exam 2025 – The Comprehensive All-in-One Guide to Exam Success!

Question: 1 / 400

What do authorized shares represent for a corporation according to the corporate charter?

Shares that have been bought back by the company

Shares outstanding in the market at a given time

The maximum number of shares a corporation can issue

Authorized shares represent the maximum number of shares that a corporation is allowed to issue according to its corporate charter. Option A is incorrect because shares bought back by the company would be considered treasury stock, not authorized shares. Option B is incorrect because it refers to the current number of shares in the market, not the maximum allowed. Option D is incorrect because it refers to the purchase of shares by authorized dealers, not the maximum number of shares the corporation can issue.

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Shares purchased by authorized dealers

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