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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 ...

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  • August 9, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • reverse convertible securities

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  • Series 24
  • Series 24

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Series 24 || A+ Verified Solutions.
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 need to be disclosed.

Form U5 correct answers The uniform termination notice for securities industry registration.
Retention period is 3 years.

When is the earliest that a firm can sold out of an equity trade correct answers T+2 (settlement
date)

When is the earliest date a firm can execute a buy in correct answers T+5 (settlement + 3)

Buy-in correct answers the repurchasing of shares by an investor because the original seller
failed to deliver the shares as promised

SIPC does NOT cover _______ correct answers securities registered in the name of the
customer.

During normal market hours, transactions in CQS securities must be locked-in within _____
correct answers 20 minutes of execution

The Consolidated Quotation System (CQS) correct answers An electronic service that provides
quotations on issues listed on the NY, American and other regional stock exchanges, that are
traded by FINRA member firms in the third market

Which products are eligible for portfolio margin correct answers -All margin equity securities
-Listed options
-Security future products
-Unlisted derivatives
-Warrants
-Index warrants and related instruments

List the listing requirements from least stringent to most stringent.
-NYSE
-Nasdaq Capital market
-Nasdaq Global market
-Nasdaq Global Select market correct answers -Nasdaq Capital market
-Nasdaq Global market
-NYSE
-Nasdaq Global Select market

, What does a BD need to disclose on penny stock transactions correct answers The compensation
that both the BD and the RR receive

What does it mean when an account is restricted? correct answers Equity is below the initial
requirement, but above maintenance. No remedy is required.

If a corporation declares a cash dividend, which orders are reduced on the ex-date (record date -
1) correct answers Buy limits and sell stops

Form U4 correct answers The uniform application for securities industry registration or transfer

Residential histories must be reported on form U4 for what time period? correct answers 5 years

Employment histories must be reported on form U4 for what time period correct answers 10
years

Form 13G vs Form 13D correct answers Passive investors need to file form 13G within 10
calendar days of acquiring a greater than 5% stake in an issuer. Active investors file form 13D

Form 13F correct answers For money managers that exceed $100mm in discretionary assets

Initially filed at end of first year of $100mm+

Filed within 45 days of the end of each quarter thereafter

Interpositioning correct answers The placing of a third party between a broker-dealer and its
customer when filling a trade. This practice is prohibited unless it results in a better execution for
the customer

Regulation A correct answers an SEC regulation that exempts public issues of less than $5
million from most registration requirements

Regulation A Tier 1 correct answers - Up to $20m within 12 months
- General solicitation is allowed
- Financials need to be reviewed

Regulation A Tier 2 correct answers - Up to $75 million within 12 months
- Unaccredited investors: May not invest more than 10% of their income/net worth
- General solicitation is allowed
- Financials need to be audited
- Updates need to be filed

Rule 144 correct answers A regulation that provides for the sale of restricted stock and control
stock. Filing with the SEC is required prior to selling restricted and control stock. The number of
shares that may be sold is limited
Holding period is 6 months for reporting companies and 1 year for non reporting companies.

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