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 c...
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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 correct answers Market maker immediately publish and display its quotes the price and
full size of limit orders
SEC 605 correct answers monthly execution reports by exchanges and Nasdaq
SEC 606 correct answers quartlerly reports on where non directed orders are routed and
compensation
SEC 611 correct answers prohibition on trade throughs
SEC 612 correct answers no subpenny pricing unless stock is less than $1 per share
SEC 15C3-2 correct answers Customers at a minimum be notified quarterly of their free credit
balance
SEC 15C3-3 correct answers Possession or control requirements and reserve requirements
SEC 17A-5 correct answers BD Files monthly FOCUS report; FOCUS II filed monthly and
quarterly
SEC 17F-2 correct answers Fingerprinting of securities industry professionals
SEC 35D-1 correct answers Investment Co with a name suggestive of a type of investment must
have at least 80% of assets in said asset
SEC 3A-51-1 correct answers Penny stock= bid price of less than $5
NASD 1014 correct answers Standards for admission to membership
NASD 1020 correct answers Registration of principals
NASD 1060 correct answers People exempt from registration
NASD 1080 correct answers All exams must be kept confidential
NASD 1160 correct answers Firms must update contact info; info must be updated within 17
days of each calendar year
, NASD 4530 correct answers Member firm must report no later than 30 days any wrong doings
NASD 8210 correct answers Firms are obligated to provide any requested documents to FINRA
examiners
Firm Underwriting Commitments correct answers Underwriter contracts with the issuing
corporatio, selling stockholders or both to buy the securities, within a defined price and quantity
range on or about a given date, all of which is explained in a letter of intent. The underwriter is
committing to buying securities from the issuer and paying the underwriting procedds to the
company. If any part of the issue being distributed goes unsold any loses incurred are borne by
the syndicate members
Best Underwriting Commitments correct answers Calls for the underwriter to buy securities from
the issuer as agent not as principal; Underwriters are not committed and therefore not at risk;
Underwriters will use their best efforts to sell all the issue but will not give any assurances that
they will sell any of the securities
All Or Nothing Commitment correct answers If the underwriters are unable to sell all of the
securities being offered within a presecribed time frame, the offering is canceled
Mini-Max Offerings correct answers Form of best efforts with a floor and a ceiling on the
number of shares the issuer is willing to sell
Standby Commitment correct answers Used when a publicly held corporation proposes to issue
additional common stock;
FINRA 2150 correct answers Prohibits sharing in customer accounts and gurantees against loss
FINRA 2232 correct answers Send confirmations to customers at or before completion of any
transactions
FINRA 2264 correct answers Disclosures must be made in order to open margin accounts
FINRA 2330 correct answers Member responsibilites regarding deffered Vas
FINRA 2711 correct answers members must take steps to ensure that all research report reflect
an analysts's honest view and are not influenced by conflicts of interest
FINRA 3110 correct answers OSJ and lines of business must be insepected and reviewed
annually
FINRA 3130 correct answers Designation of CCO; annual certification by CEO
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