Exam (elaborations)
Series 24: dates/numbers correctly answered to pass
- Course
- Institution
Series 24: dates/numbers correctly answered to pass
[Show more]
Content preview
Series 24: dates/numbersUnder Code of Procedure, prehearing conference must be held within how many days of receipt of the
respondent's answer to the complaint? - correct answer ✔✔21
Under the Code of Arbitration, a respondent must answer within how many days after receiving a
statement of claim? - correct answer ✔✔45
If not appealed to the NAC, Department of Enforcement findings under the Code of Procedure, other
than barring/expulsion, become effective.. - correct answer ✔✔no earlier than 30 days from the date of
the decision
Within how many days of decision date must an appeal be made? (Code of Procedure) - correct answer
✔✔25
Under the Code of Arbitration, all monetary awards must be paid within how many days of the decision
date? - correct answer ✔✔30
A client of your firms requests a copy of the predispute arbitration signed when the acct was opened
years ago. Under FINRA rules, your firm must respond within how many business days of the request? -
correct answer ✔✔10
Under Code of Procedure, a respondent has 25 days to respond to a compliant from the Dept of
Enforcement. If respondent doesn't answer within 25 days, the dept will send a second notice requiring
an answer within.. - correct answer ✔✔14 days
If a member wishes to appeal an adverse decision in a Code of Procedure hearing, the member first must
appeal to the NAC within how many days of the decision date? - correct answer ✔✔25
Minimum maintenance call for short accounts - correct answer ✔✔30%
, Maintenance call formula for short account - correct answer ✔✔credit balance / 1.3 = SMV at
maintenance
Minimum maintenance call for long accounts - correct answer ✔✔25%
(a) Pattern day trader executes 4+ trades within a 5-business-day period. Minimum equity requirement
for pattern day traders is? (b) Buying power for day traders is how many times the maintenance call
margin? (c) minimum maintenance requirement for pattern day traders? - correct answer ✔✔$25,000 ;
4x ; 25%
minimum requirements for portfolio margin accounts:
- customers of firms that have real-time intraday monitoring systems
- customers of firms that don't have real-time intraday monitoring systems
- prime broker customers/introduced account customers where trades may be executed away from
clearing firm - correct answer ✔✔$100,000; 150,000; 500,000
Long margin account formula - correct answer ✔✔LMV-DR=EQ
LMV^EQ^ creates SMA
LMVvEQv SMA stays same
Borrowing power + Buying power of SMA in Long Margin Account - correct answer ✔✔1x (1:1) ; 2:1 (2x)
Restricted long margin account occurs when? Minimum maintenance call? - correct answer ✔✔<50%;
25%
Maintenance call formula for long margin account - correct answer ✔✔DR/.75=LMVat maintenance
Short margin account formula - correct answer ✔✔CR-SMV=EQ
SMVv = EQ^ = increased SMA
SMV^ = EQv
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77858 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now