PORTAL Market correct answers facilitates compliance with Rule 144A and private placements
Simplified Arbitration correct answers heard by ONE pulbic arbitrator.
just another way to say arbitration between rep and customer
Sales Literature for Bonds correct answers must be filed 10 days BEFO...
Series 24 STC || All Correct.
PORTAL Market correct answers facilitates compliance with Rule 144A and private placements
Simplified Arbitration correct answers heard by ONE pulbic arbitrator.
just another way to say arbitration between rep and customer
Sales Literature for Bonds correct answers must be filed 10 days BEFORE use
Collateral in Margin Account correct answers Basically any security that has been held for more
than 30 day.
INCLUDES NEW ISSUES
Mark to Market correct answers adjustment made in the amount owed form one broker dealer to
another.
Non-Cash Compensation correct answers ALLOWED but must be sure to not favor any
particular investment company product
Rule 17a-13 correct answers COUNT OF SECURITIES-QUARTERLY
can be conducted by employees who handle securities as long as they're supervised by someone
who normally doesn't handle them.
physical count of ALL securities
verification of securities in transit or under its control
compare and record any discrepencies
Rule 10b-10 correct answers Requires confirmations to be sent to customers by completion of
transaction
NOT ALWAYS SETTLEMENT DATE
Promissory Language correct answers FIRM MAY NOT USE
watch for specific guarantees in questions
SRO correct answers created to promote and enforce industry regulations and standards
if employee is subject to suspension and/or $2500 fine they must report
5% Policy correct answers says that the general markup for securities shouldn't exceed 5%
DOESNT APPLY TO NEW ISSUES INCLUDING SECONDARIES
"LONG" correct answers customer who owns rights, options, warrants, or convertibles AND
HAD TENDERED THEM FOR CONVERSION
Investment Companies correct answers open-end mutual funds
unit investment trusts
closed-end funds
REPORT TO SHAREHOLDERS SEMI-ANNUALLY
, Order Approval correct answers Order must be approved by principal ON DAY ORDER IS
ENTERED
'Restricted Account' correct answers one is which the equity is below the equity requirement as
required by Reg T
Statutory Disqualificartion correct answers automatic disqualification of a person seeking to be
with an firm after theyve been expelled from another one
CONVICTED FELON BARRED FOR 10 YEARS
aggregate indebtedness correct answers amount the firm is owed from a lack of payment of a
failure to deliver
Trading Halt on OTCBB or Pink Sheet correct answers cannot execute transaction in security
firm must obtain all info about halt and assess it
DOESN'T HAVE TO PROVIDE WRITTEN DISCLOSURE TO EACH CUSTOMER
Stock Power correct answers separate assignment used to transfer delivery of a security from
seller to buyer.
used when seller wants to protect security in mail
Responsibility of Principle correct answers in charge of OSJ
review all customer transactions and correspeondnace
review daily blotter
customer suitability
CONSTANT ASSESSMENT OF REGISTERED REPS
Minor FINRA Violations correct answers max fine of $2500
Rule 15c3-3 correct answers Customer Protection Rule
fully paid and excess margin securities required to be assess EVERY DAY
Trial Balance correct answers General Ledger of Accounts contained in the ledger of business
MUST BE PREPARED EVERY MONTH
Finger Printing correct answers ANY BD employee who comes into contact with $$, securities,
or records of BD must be fingerprinted
INDUSTRY maintenance requirement correct answers 25% of MV of securitys
Branch Office correct answers any location identified as place which member firm does business
DOESNT COUNT IF LOCATION IS SUBLET TO OTHER BD
Custodial Account correct answers custodian name, minors name, then state
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