Finra rules 3 - Study guides, Class notes & Summaries

The provision that certain mutual fund policies cannot be changed without shareholder approval is addressed in the A) Investment Company Act of 1940. B) Securities Exchange Act of 1934. C) Investment Advisers Act of 1940. D) Securities Act of 1933. ~~> A) Investment Company Act of 1940. The regulation of mutual funds is covered in the Investment Company Act of 1940. A major responsibility of FINRA is A) developing rules and regulations for its members. B) establishing rules for...

STC SIE Exam Final Practice Questions and Answers Already Passed Which aspect of periodic payment variable annuities remains unchanged for the holder? A. The quantity of annuity units held by the client remains constant. B. The total number of accumulation units for the client remains fixed. C. Annuity agreements do not include beneficiaries. D. The monthly payment amount adjusts according to the inflation index. A. The quantity of annuity units held by the client remains constant. ...

Exam 10 series 24 wrong answers Question and answers 100% correct 2024/2025 Exam 10 series 24 wrong answers If there is a deficiency in a portfolio margin account, the customer has how many business days to meet the margin call? The portfolio margin rules of FINRA require that margin calls be met in 3 business days. Note that this contrasts with Regulation T, which requires that margin calls be met "promptly," but no later than 5 business days after the call date. A customer shorts...

Series 24 Chapter 4 Question and answers already passed 2024/2025 Series 24 Chapter 4 SRO's (6) - correct answer - FINRA, along with the CBOE and the MSRB are Self Regulatory Organizations. - an SRO Is supported by its own members - an SRO sets rules, regulations, and penalties - an SRO allows its members to vote - SROs are NOT govt agencies - all disciplinary actions taken by SROs are subject to SEC review. Each new applicant for membership as a firm must have what when it comes...

FINRA Rule 3010 correct answers Rule that states each member must: I. Establish written supervisory procedures II. A registered principal is responsible for reviewing procedures III. Each rep is assigned to a principal in charge of supervising their activities, review of communication, & correspondence bw reps & the public FINRA Rule 8000 correct answers Investigations & Sanctions. Must keep and maintain a current copy of the manual in a readily accessible place and provide it at a custome...

Which of the following investments is the MOST suitable for a person who is interested in aggressive growth? 1) Common Stock 2) High-Yield Bond Fund 3) Preferred Stock 4) High-rated Bond - Answer- A: 1) Common Stock *Of the choices listed, common stock has historically provided the greatest potential for growth *Bonds and preferred stock are typically suitable for investors who are seeking income. When purchasing Treasury notes, an investor should understand: 1) Delivery is in ...

MASTERY EXAM 1 questions and answers correct 1.An open-end management company is a: A. mutual fund b. publicly traded fund C. fixed unit investment trust D. real estate investment trust - A. mutual fund 2.To impose the maximum sales charge, under FINRA rules, mutual funds must offer investors all of the following benefits EXCEPT: A. Breakpoints B. Plan Completion Insurance C. Rights of Accumulation D. Letter of Intent - B. 3.Plan Completion Insurance A closed-end managemen...

Series 24 Missed Questions and answers verified to pass 2024/2025 Series 24 Missed Questions Which of the following are defined as penny stocks? I. Nasdaq stock trading at $5 per share. II. Bulletin Board stock quoted at $5 per share. III. NMS stock trading at $5 per share. IV. OTC Pink stock quoted at $5 per share A) II and III B) II and IV C) I and III D) I and IV - correct answer B) II and IV --A penny stock is a non-Nasdaq (Bulletin Board or Pink Quote) stock trading at under...

CFP Exam 2024 | 665 QUESTIONS| WITH COMPLETE SOLUTIONS GRADED A+. CFP Standards of Conduct Sections (6) Correct Answer: A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct Correct Answer: Duties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Dis...

2024 SIE Exam - Complete Solutions (Answered) An investor purchased 100 units of the Connecticut Municipal Securities Trust. Which of the following statements concerning this investment in the UIT is accurate? A The shares must be liquidated in the open market and offer reinvestment provisions back into the trust B The shares are redeemable and offer reinvestment provisions back into the trust C The shares are redeemable but do not offer reinvestment provisions back into the trust D The shares...