Series 24 STC
PORTAL Market - correct answer ✔✔facilitates compliance with Rule 144A and private placements
Simplified Arbitration - correct answer ✔✔heard by ONE pulbic arbitrator.
just another way to say arbitration between rep and customer
Sales Literature for Bonds - correct answer ✔✔must be filed 10 days BEFORE use
Collateral in Margin Account - correct answer ✔✔Basically any security that has been held for more than
30 day.
INCLUDES NEW ISSUES
Mark to Market - correct answer ✔✔adjustment made in the amount owed form one broker dealer to
another.
Non-Cash Compensation - correct answer ✔✔ALLOWED but must be sure to not favor any particular
investment company product
Rule 17a-13 - correct answer ✔✔COUNT OF SECURITIES-QUARTERLY
can be conducted by employees who handle securities as long as they're supervised by someone who
normally doesn't handle them.
physical count of ALL securities
verification of securities in transit or under its control
compare and record any discrepencies
Rule 10b-10 - correct answer ✔✔Requires confirmations to be sent to customers by completion of
transaction
NOT ALWAYS SETTLEMENT DATE
, Promissory Language - correct answer ✔✔FIRM MAY NOT USE
watch for specific guarantees in questions
SRO - correct answer ✔✔created to promote and enforce industry regulations and standards
if employee is subject to suspension and/or $2500 fine they must report
5% Policy - correct answer ✔✔says that the general markup for securities shouldn't exceed 5%
DOESNT APPLY TO NEW ISSUES INCLUDING SECONDARIES
"LONG" - correct answer ✔✔customer who owns rights, options, warrants, or convertibles AND HAD
TENDERED THEM FOR CONVERSION
Investment Companies - correct answer ✔✔open-end mutual funds
unit investment trusts
closed-end funds
REPORT TO SHAREHOLDERS SEMI-ANNUALLY
Order Approval - correct answer ✔✔Order must be approved by principal ON DAY ORDER IS ENTERED
'Restricted Account' - correct answer ✔✔one is which the equity is below the equity requirement as
required by Reg T
Statutory Disqualificartion - correct answer ✔✔automatic disqualification of a person seeking to be with
an firm after theyve been expelled from another one
CONVICTED FELON BARRED FOR 10 YEARS
aggregate indebtedness - correct answer ✔✔amount the firm is owed from a lack of payment of a failure
to deliver
PORTAL Market - correct answer ✔✔facilitates compliance with Rule 144A and private placements
Simplified Arbitration - correct answer ✔✔heard by ONE pulbic arbitrator.
just another way to say arbitration between rep and customer
Sales Literature for Bonds - correct answer ✔✔must be filed 10 days BEFORE use
Collateral in Margin Account - correct answer ✔✔Basically any security that has been held for more than
30 day.
INCLUDES NEW ISSUES
Mark to Market - correct answer ✔✔adjustment made in the amount owed form one broker dealer to
another.
Non-Cash Compensation - correct answer ✔✔ALLOWED but must be sure to not favor any particular
investment company product
Rule 17a-13 - correct answer ✔✔COUNT OF SECURITIES-QUARTERLY
can be conducted by employees who handle securities as long as they're supervised by someone who
normally doesn't handle them.
physical count of ALL securities
verification of securities in transit or under its control
compare and record any discrepencies
Rule 10b-10 - correct answer ✔✔Requires confirmations to be sent to customers by completion of
transaction
NOT ALWAYS SETTLEMENT DATE
, Promissory Language - correct answer ✔✔FIRM MAY NOT USE
watch for specific guarantees in questions
SRO - correct answer ✔✔created to promote and enforce industry regulations and standards
if employee is subject to suspension and/or $2500 fine they must report
5% Policy - correct answer ✔✔says that the general markup for securities shouldn't exceed 5%
DOESNT APPLY TO NEW ISSUES INCLUDING SECONDARIES
"LONG" - correct answer ✔✔customer who owns rights, options, warrants, or convertibles AND HAD
TENDERED THEM FOR CONVERSION
Investment Companies - correct answer ✔✔open-end mutual funds
unit investment trusts
closed-end funds
REPORT TO SHAREHOLDERS SEMI-ANNUALLY
Order Approval - correct answer ✔✔Order must be approved by principal ON DAY ORDER IS ENTERED
'Restricted Account' - correct answer ✔✔one is which the equity is below the equity requirement as
required by Reg T
Statutory Disqualificartion - correct answer ✔✔automatic disqualification of a person seeking to be with
an firm after theyve been expelled from another one
CONVICTED FELON BARRED FOR 10 YEARS
aggregate indebtedness - correct answer ✔✔amount the firm is owed from a lack of payment of a failure
to deliver
