Series 24 - General Securities Principal - Unit 2 || Questions and 100% Accurate Answers.
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Series 24 - General Securities Principal - Unit 2
Institution
Series 24 - General Securities Principal - Unit 2
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 desig...
Series 24 - General Securities Principal - Unit 2 || Questions
and 100% Accurate Answers.
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
designate as an OSJ any branch office that conducts: (1) order execution/market making, (2)
Structuring of public offerings or private placements, (3) Maintaining custody of customer's
funds/securities, (4) final acceptance of new accounts, (5) final approval of advertising or sales
literature, (6) review and endorsement of customer orders, (7) supervising of activities of persons
associated with the member at one or more branch offices. (18-467)
Office of Supervisory Jurisdiction (OSJ) correct answers Any office in which one or more of the
following take place:
1) Order execution or market making
2) Formation or structuring of public offerings or private placements
3) Custody of customer funds or securities
4) Final approval by a principal of new accounts on behalf of the member
5) Review and endorsement of customer orders
6) Final approval of retail communications
7) Supervision of activities of persons at one or more of the member's branch offices
The significance of an OSJ is that ___________________________ correct answers the office is
responsible for the activities of registered representatives (and other associated persons housed
not only in that office, but in other offices usually located within the same region.
The responsibilities of an OSJ, which must be managed by at lease one resident general
securities principal are to: correct answers 1) enforce the written supervisory procedures of the
fund;
2) periodically review customer accounts
3) maintain copies of customer records (new account forms signed by a principal, order tickets,
confirmations, etc.), including customer complaints; and
4) periodically inspect the branch offices beneath it.
Each member must identify to _________ which of its offices have been designated as OSJ's.
correct answers FINRA
Firms must preserve a record, for a period of not less than __________, of the names of all
persons who are designated as supervisory personnel and the dates for which the designation is
or was effective. correct answers 3 years
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