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FINRA Rules Exam Study Guide with Complete Solutions
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FINRA Rules Exam Study Guide with Complete Solutions Enforcement Bodies - Answer️️ -Securities and Exchange Commission, FINRA Federal Reserve determines - Answer️️ -which securities are marginable. Enforcement is performed by FINRA. - Answer️️ -MSRB writes rules for municipal marke...

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  • September 25, 2024
  • 28
  • 2024/2025
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

FINRA Rules Exam Study Guide with
Complete Solutions
Enforcement Bodies - Answer✔️✔️-Securities and Exchange Commission, FINRA

Federal Reserve determines - Answer✔️✔️-which securities are marginable.

Enforcement is performed by FINRA. - Answer✔️✔️-MSRB writes rules for municipal

market participants

FINRA is the regulator for all of the securities markets - Answer✔️✔️-Primary Market

(new issues); the First Market (trades on exchanges); the Second Market (OTC trades

of non-exchange listed securities); the Third Market (OTC trades of exchange listed

issues) and the Fourth Market (direct trading between institutions on ECNs and ATSs)

FINRA does not regulate - Answer✔️✔️-CBOE options trading floor. There, the CBOE is

the regulator

"RR") may be compensated only by - Answer✔️✔️-brokerage firm for which the RR

works, based on trading commissions, salary, or asset based fees.

Customers may not pay compensation - Answer✔️✔️-directly to registered

representatives.

To take a second job - Answer✔️✔️-each registered person gives written notice to the

employing member firm and must follow instructions of the employing member firm.




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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
no requirement to notify, or get the approval of, FINRA

FINRA requires that associated persons give written notice to their employer and

receive employer approval to - Answer✔️✔️-serve as an officer, director, or partner of

another business organization

any outside business activities must be disclosed - Answer✔️✔️-individual's U-4 filing, so

the U-4 must be amended promptly if the employer approves and outside work is taken.

any outside business activities are shown on - Answer✔️✔️-registered representative's

BrokerCheck report.

FINRA limits gifts related to one's employment in the securities business, either given or

received, - Answer✔️✔️-$100 in value per person per year.

Business entertainment does not fall under the $100 gift limit. - Answer✔️✔️-is permitted

as long as it is not too excessive or too frequent and it must comply with the firm's

policies and procedures.

Business entertainment means - Answer✔️✔️-representative and the customer are

together at some type of event.

Registered representatives can only shares commissions and fees with - Answer✔️✔️-

other registered persons at the same broker-dealer



prohibited from sharing in commissions or paying fees to registered persons at other

brokerage firms and to any unregistered individual.


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, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Continuing Education - Firm Element - Answer✔️✔️-each member firm must deliver a

Continuing Education program to each registered person that covers relevant

compliance issues, regulatory issues, and product features and issues



must document each person's participation and completion of the annual Firm Element

Continuing Education program

Continuing Education - Regulatory Element - Answer✔️✔️-Regulatory Element

Continuing Education program must be completed. This is administered by FINRA on

the PROCTOR system

Regulatory Element Continuing Education program must be completed. - Answer✔️✔️-

each registered person's 2nd anniversary of registration and every 3rd year thereafter,

Regulatory Element - Answer✔️✔️-training session that must be completed within 120

days of notification , Not completed, that person's license is suspended until completion

occurs.

Failure to Complete Regulatory Element - Answer✔️✔️-Not completed, that person's

license is suspended until completion occurs.

Parking Licenses - Answer✔️✔️-prohibited practice; person cannot arrange to have a

member firm hold his or her license during the period when he or she is not employed at

a member firm.




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