UNIT 18 COMPLAINT RESOLUTION QUESTIONS WITH COMPLETE ANSWERS

UNIT 18 COMPLAINT RESOLUTION
QUESTIONS WITH COMPLETE
ANSWERS

A ccregistered ccrepresentative ccof cca ccFINRA ccmember ccfirm cchas ccbeen ccfound
ccguilty ccof cca cctrade ccpractice ccviolation. ccIf ccdesired, ccthe ccCode ccof ccProcedure
ccrequires ccthe ccindividual ccto ccfile ccan ccappeal ccwithin
A)
45 ccdays ccafter ccreceiving ccthe ccdecision.
B)
25 ccdays ccafter ccreceiving ccthe ccdecision.
C)
60 ccdays ccafter ccreceiving ccthe ccdecision.
D)
30 ccdays ccafter ccreceiving ccthe ccdecision. cc- ccAnswer ccB)
25 ccdays ccafter ccreceiving ccthe ccdecision.

Under ccthe ccCode ccof ccProcedure, ccappeals ccmust ccbe ccfiled ccwith ccthe ccNAC ccwithin
cc25 ccdays ccafter ccreceiving ccthe ccdecision.


For cceach ccviolation ccof ccFINRA ccor ccMSRB ccrules, ccFINRA ccmay ccimpose ccwhich
ccof ccthe ccfollowing ccsanctions?
Fines
Censure
Restitution
Expulsion
A)
I, ccIII, ccand ccIV
B)
I, ccII, ccand ccIV
C)
I ccand ccII
D)
I, ccII, ccIII, ccand ccIV cc- ccAnswer ccB)
I, ccII, ccand ccIV

, Restitution ccis ccnot ccone ccof ccthe ccsanctions ccthat ccmay ccbe ccimposed ccby ccFINRA.
ccHowever, ccthat cccould ccbe ccimposed ccby cca cccourt.


Which ccof ccthe ccfollowing ccis ccused ccto ccreport cca ccbankruptcy ccfiling ccof cca
ccregistered ccrepresentative ccof cca ccFINRA ccmember ccfirm?
A)
ADV
B)
DRP
C)
BF
D)
TIF cc- ccAnswer ccB)
DRP

DRP ccstands ccfor ccdisclosure ccreporting ccpage. ccThat ccis ccthe ccpart ccof ccthe ccForm
ccU4 ccwhere cca ccregistered ccperson ccindicates cccertain ccmandatory ccdisclosures. ccIn
ccaddition ccto ccbankruptcy ccfiling, ccit ccincludes ccthe ccfollowing:
· ccCriminal ccdisclosures
· ccCivil ccdisclosures ccrelated ccto ccnonsecurities cccases
· ccDisclosures ccof ccactions cctaken ccby ccregulatory ccauthorities
· ccCustomer cccomplaints
· ccTermination ccfor cccause
The ccTIF ccis ccthe cctransfer ccinitiation ccform ccused ccwith ccACATS ccto cctransfer cca
cccustomer ccaccount ccfrom ccone ccmember ccfirm ccto ccanother. ccADV ccis ccthe ccform
ccused ccby ccinvestment ccadvisers ccto ccregister ccwith ccthe ccSEC ccor ccthe ccappropriate
ccstate(s). ccThere ccis ccno ccForm ccBF.


An ccangry cccustomer cchas ccwritten cca ccletter ccof cccomplaint ccand ccsent ccit ccto ccthe
ccregistered ccrepresentative cchandling ccthe ccaccount. ccThe ccfirst ccstep ccthe
ccregistered ccrepresentative ccmust cctake ccis ccto
A)
notify ccthe ccfirm's ccdesignated ccexamining ccauthority cc(DEA).
B)
contact ccthe cccustomer ccand cctry ccto ccresolve ccthe ccissue.
C)
forward ccthe cccomplaint ccto ccthe ccproper ccsupervisory ccperson.
D)
accept ccresponsibility ccfor ccthe ccproblem ccand ccoffer cca ccrefund ccto ccthe cccustomer.
cc- ccAnswer ccC)
forward ccthe cccomplaint ccto ccthe ccproper ccsupervisory ccperson.

Handling ccof cccomplaints ccis cca ccserious ccmatter ccin ccthis ccindustry. ccNormally, ccthe
cccomplaint ccis ccsent ccto ccthe ccfirm, ccwho ccformally ccaccepts ccthe cccomplaint ccand
ccrecords ccthe ccaction cctaken. ccIn ccthis cccase, ccwhere ccthe ccindividual ccservicing ccthe
ccaccount ccreceives ccthe cccomplaint, ccthe ccfirm's ccprocedures ccmanual ccwill