Finra series 24 - Study guides, Class notes & Summaries

Series 24 Question and answers rated A+ 2024/2025 Series 24 - Review A registered representative at your firm borrows $9,000 from another representative in the same branch office. As the principal, you become aware of this at the next scheduled compliance meeting of your firm. What action should you take? A. No action needs to be taken B. This is a "reportable event" that must be filed with FINRA promptly C. You should determine that one representative was not the customer of the othe...

Series 24 Question and answers already passed 2024/2025 Series 24 - Unit 5 - Supervision of Brokerage Office Operations The UPC (Uniform Practice Code) of FINRA was created to set rules for dealer-to-dealer transactions in the ____ market. - correct answer OTC The UPC Code applies only to _____ securities - correct answer nonexempt Does not apply to transactions ... - executed on an exchange floor, - in exempt securities, - in redeemable investment company securities such as mu...

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...

Series 24 Chapter 1 Question and answers 100% correct 2024/2025 Series 24 Chapter 1 Form NMA - correct answer New Member Application filed thru Firm Gateway 180 Day Application Review Period Broker - correct answer Any person engaged in the business of effecting transactions in securities for the account of others Dealers - correct answer Any person acting on behalf of their own proprietary trading account Investment Adviser - correct answer Person who, for compensation, ad...

Series 24 Question and answers 100% correct 2024/2025 Series 24 Becoming a FINRA Member - correct answer -File online a New Member Application (Form NMA) w/FINRA -Register with SEC as B/D and file Form BD -Meet standards under rule 1014 Statutory Disqualification - correct answer Member or individual who has faced disciplinary sanctions by the SEC or another SRO in the last 10 years. SD cannot work in the securities industry without an exception from the DMR. Form MC-400 - corr...

Series 24 Unit 11 Question and answers correctly solved 2024/2025 Series 24 Unit 11 Seller's Option - correct answer A type of settlement that can occur if the seller, for good reason, will be unable to deliver the securities to the buyer by the regular way settlement date. If granted by the buying dealer, the seller can make delivery on or before the date the option expires Intention to Deliver - correct answer Written notice that a seller must give a buyer, this notice must be give...

NASDAQ DUTIES: Advertising regulation/investment companies. (define it)Another FINRA task is evaluating members' advertising and communications regarding securities to ensure that they are fair, accurate, and not misleading. These include advertisements for mutual funds and variable annuities in newspapers, magazines, electronic media, and other sales literature such as direct marketing materials. ARBITRATIONan impartial person or panel hears the issues as presented by both parties, studies ...

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...

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...