Series 24 - Customer and Margin Accounts || with Errorless Solutions 100%. Final Study Guide Series 24 || with 100% Error-free Answers. FINRA Series 24 || with Complete Solutions. Q&As Final Exams 1 & 2 Series 24 || with Complete Solutions. Series 24: dates/numbers || with A+ Guaranteed Solutions. ...
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BDs may enter into a temporary subordination agreement. However, the broker-dealer is limited to no more than 3 such agreements in any 12-month period. correct answers The duration of a temporary subordination agreement may not exceed 45 days. If a customer wishes to open an account as a guardian...
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Add to cartBDs may enter into a temporary subordination agreement. However, the broker-dealer is limited to no more than 3 such agreements in any 12-month period. correct answers The duration of a temporary subordination agreement may not exceed 45 days. If a customer wishes to open an account as a guardian...
Securities Act of 1933 correct answers Enacted to regulate how securities are registered, issued and distributed to the public. Primary market focused. AKA the Paper act. Securities Exchange Act of 1934 correct answers Regulated broker-dealers and how existing securities are traded in the seconda...
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Add to cartSecurities Act of 1933 correct answers Enacted to regulate how securities are registered, issued and distributed to the public. Primary market focused. AKA the Paper act. Securities Exchange Act of 1934 correct answers Regulated broker-dealers and how existing securities are traded in the seconda...
A syndicate headed by BD is distributing a split offering of Steel Curtain common stock. Some of the selling shareholders would like to purchase shares in the open market prior to the close of the deal. Under Rule 102 of Regulation M, selling shareholders are prohibited from this activity. correct a...
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Add to cartA syndicate headed by BD is distributing a split offering of Steel Curtain common stock. Some of the selling shareholders would like to purchase shares in the open market prior to the close of the deal. Under Rule 102 of Regulation M, selling shareholders are prohibited from this activity. correct a...
Secondary Distribution correct answers A redistribution of large block of securities held by a few owners (insiders/institutions) - NOT secondary market. May be purchased on margin Primary Distribution correct answers Cannot be purchased on margin Competitive Bidding correct answers Method of ...
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Add to cartSecondary Distribution correct answers A redistribution of large block of securities held by a few owners (insiders/institutions) - NOT secondary market. May be purchased on margin Primary Distribution correct answers Cannot be purchased on margin Competitive Bidding correct answers Method of ...
Reverse Convertible Securities correct answers Higher coupon, could be forced to convert to an unrelated asset (or basket/index). Good for investors who think the underlying asset will be stable. When trading on a net basis, _____ correct answers BD acts as a principal. Markup/markdown does not n...
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Add to cartReverse Convertible Securities correct answers Higher coupon, could be forced to convert to an unrelated asset (or basket/index). Good for investors who think the underlying asset will be stable. When trading on a net basis, _____ correct answers BD acts as a principal. Markup/markdown does not n...
What is the difference between limited and full discretion with regard to an account where the representative has trading authority? correct answers Limited: the ability to buy and sell securities. Full: same as limited, but includes the ability to extract funds. What additional authorizations a...
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Add to cartWhat is the difference between limited and full discretion with regard to an account where the representative has trading authority? correct answers Limited: the ability to buy and sell securities. Full: same as limited, but includes the ability to extract funds. What additional authorizations a...
Why was FINRA created? correct answers - Eliminate duplicate regulation by NASD and the NYSE - Strengthen the competitiveness of U.S. markets What is the mission of the SEC? correct answers Protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation FINR...
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Add to cartWhy was FINRA created? correct answers - Eliminate duplicate regulation by NASD and the NYSE - Strengthen the competitiveness of U.S. markets What is the mission of the SEC? correct answers Protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation FINR...
Some supervisory tasks include: correct answers 1) Supervising the activities of associated persons. 2) Ensuring all reps are qualified by the proper examination and receive their continuing education. OSJ correct answers Office of supervisory jurisdiction; Each member firm is required to design...
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Add to cartSome supervisory tasks include: correct answers 1) Supervising the activities of associated persons. 2) Ensuring all reps are qualified by the proper examination and receive their continuing education. OSJ correct answers Office of supervisory jurisdiction; Each member firm is required to design...
Hart-Scott-Rodino Act correct answers Requires that a merger or takeover transaction that exceeds certain value thresholds must be filed with the FTC and Department of Justice - Anti-Trust Department, for their review of the deal's effect on competition. A 30-day waiting period must be completed wi...
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Add to cartHart-Scott-Rodino Act correct answers Requires that a merger or takeover transaction that exceeds certain value thresholds must be filed with the FTC and Department of Justice - Anti-Trust Department, for their review of the deal's effect on competition. A 30-day waiting period must be completed wi...
What are the two requirements for a subordinated loan? correct answers It must: - Be in writing for a specified amount of cash or securities - Have at least a one year duration; no prepayment for first year What are the three requirements for a temporary subordinated loan? correct answers - All...
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Add to cartWhat are the two requirements for a subordinated loan? correct answers It must: - Be in writing for a specified amount of cash or securities - Have at least a one year duration; no prepayment for first year What are the three requirements for a temporary subordinated loan? correct answers - All...
Arbitration, FINRA rules require that disputes between firms, a firm and its employee, or a firm and a clearing corporation, must go to arbitration. What is the exception ? correct answers An exception exists when the dispute involves statutory discrimination claims, such as sexual harassment. The a...
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Add to cartArbitration, FINRA rules require that disputes between firms, a firm and its employee, or a firm and a clearing corporation, must go to arbitration. What is the exception ? correct answers An exception exists when the dispute involves statutory discrimination claims, such as sexual harassment. The a...
SEC 201 correct answers Trading centers must restrict short sales if securities decline by 10% SEC 203 correct answers Delivery must be made 35 days of trade date SEC 204 correct answers Close out any fail to deliver postion that exists on trade settlement for any equity security SEC 604 co...
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Add to cartSEC 201 correct answers Trading centers must restrict short sales if securities decline by 10% SEC 203 correct answers Delivery must be made 35 days of trade date SEC 204 correct answers Close out any fail to deliver postion that exists on trade settlement for any equity security SEC 604 co...
The SEC's Net Capital Rule (5): correct answers - Covers the financial responsibility of brokerdealers. - Net Capital rule is a Liquidity rule - intended to protect customers and other BDs by requiring that all BDs have sufficient liquid capital (net capital) on hand at all times. - requires BD...
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Add to cartThe SEC's Net Capital Rule (5): correct answers - Covers the financial responsibility of brokerdealers. - Net Capital rule is a Liquidity rule - intended to protect customers and other BDs by requiring that all BDs have sufficient liquid capital (net capital) on hand at all times. - requires BD...
Form NMA correct answers Opens 180 day window for new application for b/d registration Finra responsibilities correct answers Obl/authority interpret rules, fees, compliance issues, disputes, CRD, education Form BD correct answers form used by B/D to register with SEC, SRO's. Must be updated ...
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Add to cartForm NMA correct answers Opens 180 day window for new application for b/d registration Finra responsibilities correct answers Obl/authority interpret rules, fees, compliance issues, disputes, CRD, education Form BD correct answers form used by B/D to register with SEC, SRO's. Must be updated ...
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 BEFOR...
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Add to cartPORTAL 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 BEFOR...
30 seconds correct answers For trades executed during normal hours and canceled at or before 4:00, the cancellation report must be made within 30 seconds correct answers market maker trades must be reported within 2 days correct answers Form 4 an officer acquiring 5% of beneficial ownership mu...
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Add to cart30 seconds correct answers For trades executed during normal hours and canceled at or before 4:00, the cancellation report must be made within 30 seconds correct answers market maker trades must be reported within 2 days correct answers Form 4 an officer acquiring 5% of beneficial ownership mu...
Reg M Rule 103 correct answers MM also a syndicate member elects to function as passive mm - Notification to Nasdaq 1 biz day before restricted period - Identifier PSMM must be used - Passive bids no higher than highest indep. bid - Indep market must exist - Subject to limit order display rule ...
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Add to cartReg M Rule 103 correct answers MM also a syndicate member elects to function as passive mm - Notification to Nasdaq 1 biz day before restricted period - Identifier PSMM must be used - Passive bids no higher than highest indep. bid - Indep market must exist - Subject to limit order display rule ...
Form 144 must be filed with the SEC concurrently with the sale or earlier. within 10 days of the sale 5 days before the sale correct answers concurrently with the sale or earlier. Form 144, which alerts the SEC to the impending sale of unregistered or control stock, must be filed concurr...
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Add to cartForm 144 must be filed with the SEC concurrently with the sale or earlier. within 10 days of the sale 5 days before the sale correct answers concurrently with the sale or earlier. Form 144, which alerts the SEC to the impending sale of unregistered or control stock, must be filed concurr...
When should Fidelity bond coverage be reviewed? correct answers reviewed 60 days before the anniversary date File time for subordinated loan agreements? correct answers 10 days before the effective date Who do we file subordinated agreements with? correct answers FINRA How many temporary su...
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Add to cartWhen should Fidelity bond coverage be reviewed? correct answers reviewed 60 days before the anniversary date File time for subordinated loan agreements? correct answers 10 days before the effective date Who do we file subordinated agreements with? correct answers FINRA How many temporary su...
A registered representative is moving to a new broker-dealer. If her customers have filled out the transfer request forms, the following is true: correct answers The carrying firm is permitted to contact the customer If a customer is required to take a RMD from his IRA, what are the requirements ...
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Add to cartA registered representative is moving to a new broker-dealer. If her customers have filled out the transfer request forms, the following is true: correct answers The carrying firm is permitted to contact the customer If a customer is required to take a RMD from his IRA, what are the requirements ...
Under Code of Procedure, prehearing conference must be held within how many days of receipt of the respondent's answer to the complaint? correct answers 21 Under the Code of Arbitration, a respondent must answer within how many days after receiving a statement of claim? correct answers 45 If ...
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Add to cartUnder Code of Procedure, prehearing conference must be held within how many days of receipt of the respondent's answer to the complaint? correct answers 21 Under the Code of Arbitration, a respondent must answer within how many days after receiving a statement of claim? correct answers 45 If ...
after notice by FINRA, how long do members have to pay fees? correct answers 21 days how much notice needs to be give to FINRA before a material change to a firm? correct answers 30 days how long after statutory dq'ing event must you report an associated person to FINRA? correct answers do it...
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Add to cartafter notice by FINRA, how long do members have to pay fees? correct answers 21 days how much notice needs to be give to FINRA before a material change to a firm? correct answers 30 days how long after statutory dq'ing event must you report an associated person to FINRA? correct answers do it...
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