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Securities Industry Essentials Exam Study Guide with Complete Solutions Broker-Dealer that doesn't comply is subject to: - ️️ Correct--censure -limits on activities -suspension -revocation of reg -fine FINRA - ️️ Correct-regulates all matters related to investment banking, trading in...

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  • September 25, 2024
  • 17
  • 2024/2025
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  • securities industry essentials exam study guide wi

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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

Securities Industry Essentials Exam
Study Guide with Complete Solutions

Broker-Dealer that doesn't comply is subject to: - ✔️✔️Correct--censure


-limits on activities

-suspension

-revocation of reg

-fine

FINRA - ✔️✔️Correct-regulates all matters related to investment banking, trading in the

OTC market, trading in the NYSE listed securities, and the conduct of FINRA member

firms and associated persons

FINRA Purpose - ✔️✔️Correct--promote investment banking and securities business

-provide medium for communication among its members

-adopt, admin, and enforce rules designed to prevent fraud

-promote self-discipline among members

MSRB (MUNICIPAL SECURITIES REGULATORY BOARD) - ✔️✔️Correct--regulates all

matters related to the underwriting and trading of state and municipal securities

-depends on other SROs for enforcement ability

Federal Reserve - ✔️✔️Correct--12 regional Fed reserve banks and hundreds of national

and state banks that belong to the system


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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
-determines monetary policy and takes actions to implement policies including 1. acting

as an agent of treasury 2. regulating US money supply 3. setting reserve requirements

4. supervising the printing of currency 5. clearing fund transfers

Securities Investor Protection Corporation (SIPC) - ✔️✔️Correct--a nonprofit corporation,

created by Congress and subject to SEC and congressional oversight, that insures

customer accounts against the financial failure of a brokerage firm

-basic coverage under is no more than 500k per separate customer

Federal Deposit Insurance Corporation (FDIC) - ✔️✔️Correct--the government agency

that insures customer deposits if a bank fails

-accounts covered up to 250k

Accredited Investor - ✔️✔️Correct--has a net worth of 1 million or more, not including net

equity

-has had an annual income of 200k or more in each of the two most recent years

Carrying Firm - ✔️✔️Correct--carries customer accounts and accepts funds and

securities from customers

-largest broker-dealers

fully disclosed firm - ✔️✔️Correct--a firm that introduces into customers to a clearing firm

prime account - ✔️✔️Correct--type of account that allows a customer to select one

member firm to provide custody and other services while other firms-called executing

brokers-handle all trades placed



2/17

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
-key advantage is that it usually provides a client with the ability to trade with multiple

brokerage houses

Municipal Advisor - ✔️✔️Correct--provides advice with respect to municipal products or

the issuance of municipal securities, including advice with respect to structure, timing,

terms, and other similar matters

Transfer Agents - ✔️✔️Correct--ensures securities are issued in the correct owners name

-cancels all old and issues new certificates

-maintain records of ownership

-handle problems related to lost, stolen or destroyed certificates

primary market - ✔️✔️Correct-market for selling financial assets that can only be

redeemed by the original holder

Third Market - ✔️✔️Correct-off-exchange market for securities listed on an organized

exchange

Fourth Market - ✔️✔️Correct--market for institutional investors in which large blocks of

stock, both listed and unlisted trade in transactions unassisted by broker-dealers

Federal Reserve affects money supply through: - ✔️✔️Correct--open-market operations

-changes in the discount rate

-changes in reserve requirements

Keynesian economics - ✔️✔️Correct--active government involvement is vital

-government affects levels of spending and saving by taxes


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