The first day that a stock trades without a due bill attached is the
A)
record date.
B)
payable date.
C)
declaration date.
D)
ex-date. correct answers D
One of your clients calls to tell you he will be out of the country for the next two weeks. Communication will be spotty at best. ...
S24 || Already Passed.
The first day that a stock trades without a due bill attached is the
A)
record date.
B)
payable date.
C)
declaration date.
D)
ex-date. correct answers D
One of your clients calls to tell you he will be out of the country for the next two weeks.
Communication will be spotty at best. In his absence, he instructs you to buy 1,000 shares of
Millville Glass Company whenever the price appears favorable. You should
A)
obtain discretionary authority before the client leaves the country.
B)
buy the stock if it shows signs of positive movement.
C)
buy the stock only if it would be consistent with the client's objectives.
D)
effect the trade only if possible to beat a VWAP benchmark. correct answers A
A Nasdaq market maker accepts a customer limit order to buy 500 ABCD at 21.10 AON. In its
market making capacity, the firm buys 200 shares at that price. Under Nasdaq trading rules, the
market maker
A)
must execute the order in its entirety.
B)
need not execute the order, in full or in part.
C)
must execute 200 shares of the order and cancel the remaining 300 shares.
D)
must execute 200 shares of the order and protect the remaining 300 shares. correct answers B
Which of the following statements regarding money laundering are true?
I. A CTR must be filed within 15 calendar days of currency receipt.
II. A CTR must be filed within 30 calendar days of currency receipt.
III. A SAR must be filed within 15 calendar days of suspicious activity.
IV. A SAR must be filed within 30 calendar days of suspicious activity.
,A)
I and IV
B)
II and IV
C)
I and III
D)
II and III correct answers A
Under the Code of Procedure, all of the following sanctions may be imposed against a member
or an associated person found in violation of securities laws and rules except
A)
cancellation of the registration of an associated person.
B)
expulsion of the membership of a firm.
C)
fines deemed fitting the circumstance.
D)
suspension of the membership of a member or suspension of the registration of an associated
person for up to one year. correct answers D
In a trade between a market maker and a non-market maker, the trade report is made by
A)
the buy side.
B)
the sell side.
C)
the non-market maker.
D)
the market maker. correct answers D
Your firm is a syndicate member in an additional offering of the common stock of ABC, a listed
company. The effective date of the offering is tomorrow, and the one-day restricted period
begins today. One of your clients calls and places a market order to buy 200 shares of ABC. You
should
A)
place the order.
B)
place the order once the distribution is complete.
C)
refuse the order until the client receives a red herring.
D)
wait until the offering is effective before placing the order. correct answers A
,You have just received account transfer instructions for an account maintained at your firm.
There is an open order in the account: sell 500 XYZ at 36.30 stop. Your firm
A)
must transfer the order.
B)
must immediately cancel the order.
C)
may execute the order before account validation.
D)
may execute the order before account transfer. correct answers C
To take advantage of breakpoints, an investor making a $250,000 purchase of shares in the Ajax
Fund should buy
A)
Class C shares.
B)
Class B shares.
C)
either Class B or C shares.
D)
Class A shares. correct answers D
Under Code of Procedure rules, any sanctions imposed by a hearing panel are effective no earlier
than
A)
30 days after decision date.
B)
10 days after the decision date.
C)
25 days after the decision date.
D)
20 days after the decision date. correct answers A
Under SEC rules, a Schedule 13D filing must be made to all of the following except
A)
shareholders of the issuer.
B)
the market where the security principally trades.
C)
the SEC.
D)
, the issuer. correct answers A
A Regulation S offering
I. is exempt from registration under the Act of 1933.
II. is not exempt from registration under the Act of 1933.
III. may be sold to U.S. residents.
IV. may not be sold to U.S. residents.
A)
II and IV
B)
I and IV
C)
I and III
D)
II and III correct answers B
All of the following gifts given to employees of other FINRA member firms, each costing $320,
are prohibited except
A)
a tennis racket.
B)
a ticket to a seminar on estate planning.
C)
a custom Lucite tombstone commemorating an underwriting.
D)
a cell phone. correct answers C
A market maker is holding a customer order to buy 500 shares of WXYZ at 21.31. As principal,
the firm buys 200 shares of the stock at 21.30. Under SEC rules, the firm
A)
must execute the customer order for 200 shares at 21.30.
B)
must execute the customer order for 200 shares at either 21.31 or 21.30.
C)
must execute the customer order for 200 shares at 21.31.
D)
is not required to take any action. correct answers A
If a market maker accepts a customer limit order at the inside, it must change its size to reflect
the customer order unless the order is
A)
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