Timelines (Series 24)
Following a pre-membership interview, how long does FINRA have to approve
or deny an application? - correct answer ✔30
How long after the closing of a customer's account must a broker-dealer
preserve records which relate to the terms and conditions with respect to the
opening and maintenance of the account? - correct answer ✔6 Years
Blotters must be maintained for: - correct answer ✔6 Years
Most records must be kept easily accessible for: - correct answer ✔2 Years
Regarding internal inspections required by FINRA, each member shall inspect
each OSJ office and any branch office that supervises one or more non-
branch locations at least how often? - correct answer ✔Annually
For branch offices that do not supervise one or more branch locations, the
member shall inspect such branches at least - correct answer ✔3 Years
What is the earliest time that a newly-issued security can be sold to the
public? - correct answer ✔At least 20 days after its registration statement is
filed
An issuer of publicly offered securities must file X preliminary prospectuses X
days before sending to investors: - correct answer ✔Five copies of the
preliminary prospectus with the SEC no later than the date that it is first sent
to investors
, Firms must preserve customer account information that is subsequently
updated for at least ____ years after info is updated - correct answer ✔6
Years
Firms must preserve the most current customer account information for
______ years after the account is closed. - correct answer ✔6 Years
How often must security counts be conducted - correct answer ✔Quarterly
(2-4 months between counts)
Smith & Smith is in the process of registering as a broker-dealer. FINRA has
deemed the firm's application complete and has scheduled an interview with
the firm. After the interview, how long does FINRA have to accept or deny
Smith & Smith's registration? - correct answer ✔30 Days
Smith & Smith is in the process of registering as a broker-dealer. How long
does FINRA have to review the application for completeness? - correct
answer ✔30 Days
Smith & Smith is in the process of registering as a broker-dealer. They
received a request for additional information regarding their application. How
long does Smith & Smith have to respond to FINRA? - correct answer ✔60
Days
A respondent or the Department of Enforcement or the Department of Market
Regulation may file a written notice of appeal within X after service of a
decision issued pursuant to Rule 9268 or Rule 9269 to the National
Adjudicatory Council. - correct answer ✔25 days
Under FINRA's disciplinary procedures, how long after the Hearing Panel
makes its decision can the decision be appealed, and who would the appeal
Following a pre-membership interview, how long does FINRA have to approve
or deny an application? - correct answer ✔30
How long after the closing of a customer's account must a broker-dealer
preserve records which relate to the terms and conditions with respect to the
opening and maintenance of the account? - correct answer ✔6 Years
Blotters must be maintained for: - correct answer ✔6 Years
Most records must be kept easily accessible for: - correct answer ✔2 Years
Regarding internal inspections required by FINRA, each member shall inspect
each OSJ office and any branch office that supervises one or more non-
branch locations at least how often? - correct answer ✔Annually
For branch offices that do not supervise one or more branch locations, the
member shall inspect such branches at least - correct answer ✔3 Years
What is the earliest time that a newly-issued security can be sold to the
public? - correct answer ✔At least 20 days after its registration statement is
filed
An issuer of publicly offered securities must file X preliminary prospectuses X
days before sending to investors: - correct answer ✔Five copies of the
preliminary prospectus with the SEC no later than the date that it is first sent
to investors
, Firms must preserve customer account information that is subsequently
updated for at least ____ years after info is updated - correct answer ✔6
Years
Firms must preserve the most current customer account information for
______ years after the account is closed. - correct answer ✔6 Years
How often must security counts be conducted - correct answer ✔Quarterly
(2-4 months between counts)
Smith & Smith is in the process of registering as a broker-dealer. FINRA has
deemed the firm's application complete and has scheduled an interview with
the firm. After the interview, how long does FINRA have to accept or deny
Smith & Smith's registration? - correct answer ✔30 Days
Smith & Smith is in the process of registering as a broker-dealer. How long
does FINRA have to review the application for completeness? - correct
answer ✔30 Days
Smith & Smith is in the process of registering as a broker-dealer. They
received a request for additional information regarding their application. How
long does Smith & Smith have to respond to FINRA? - correct answer ✔60
Days
A respondent or the Department of Enforcement or the Department of Market
Regulation may file a written notice of appeal within X after service of a
decision issued pursuant to Rule 9268 or Rule 9269 to the National
Adjudicatory Council. - correct answer ✔25 days
Under FINRA's disciplinary procedures, how long after the Hearing Panel
makes its decision can the decision be appealed, and who would the appeal
