- Study guides, Class notes & Summaries

Series 24 STC Question and answers already passed 2024/2025 Series 24 STC - Chapter 12 Items to remember - correct answer Set Alarm for 8:00am (market opens) Snooze only 1 time for 15 min (report by 8:15) Cannot set clock ahead Synchronize clocks every day w/ NIST w/in 1 second Office hours from 9:30am until 4pm and no sleeping on the job When you are on the job must answer on the 1st ring (trade reporting) within 10 seconds If you stay late, get the trade in by 8:15 Per FINRA Rule...

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10 pages

Written in 2024/2025

Grade A+

Academia199

series 24 sec 2 Question and answers 100% correct 2024/2025 series 24 sec 2 carrying firm - correct answer 250k or 6 2/3% of AI (15:1) ai to nc inroducing firm - correct answer 5k or 50k , if 10 trades 100k Firms engaged solely in merger and acquisition work or in the sale of limited partnerships have a - correct answer capital requirement of $5,000. dealer net cap - correct answer 100k market makers - correct answer 100k min max 1mm bid price of $5 or less—$1,000 in...

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3 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Quick sheet Question and answers rated A+ 2024/2025 Series 24 Quicksheet what is the 'grace period' for fees being paid to FINRA? - correct answer 21 days until membership revoked or suspended how long do you need to notify FINRA before making a material change to the firm? - correct answer 30 days how long do you have to report an AP having a statutory disqualifying event? - correct answer promptly to FINRA, no more than 30 days what leads to statutory DQ from FIN...

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2 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Practice Final Questions Part 1 Question and answers correctly solved 2024/2025 Series 24 Practice Final Questions Part 1 A firm's investment banking department needs the assistance of an analyst from the research department. This would involve giving the analyst access to recordkeeping & support systems that must only be accessed from within their investment banking department. How can the analyst be give this access without violating FINRA's information barrier rules? - correct...

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8 pages

Written in 2024/2025

Grade A+

Academia199

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...

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11 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Flashcards Question and answers already passed 2024/2025 Series 24 Flashcards - Final Master Deck 25 days - correct answer For how long must a prospectus be provided for an IPO of a listed company? 40 days - correct answer For how long must a prospectus be provided for a company that will be unlisted? 90 days. - correct answer For how long must a prospectus be provided for an IPO of a company that will be unlisted? Prospectus not required. - correct answer For how ...

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22 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Flash Cards Question and answers 100% correct 2024/2025 Series 24 Flash Cards-Audrey Chapter 1 Eligible for shelf using S-3 or F-3 but not a WKSI - correct answer Seasoned Issuer Required to file periodic reports but not a Seasoned Issuer - correct answer Unseasoned Issuer Not required to file reports and not doing so voluntarily - correct answer Non-reporting issuer Ineligible Issuer - correct answer Shell companies, blank check companies, penny stock issuers, bank...

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12 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Financial Responsibility Net Capital Rule Question and answers 100% correct 2024/2025 Series 24 Financial Responsibility Net Capital Rule Clearing Broker-Dealer = $250,000 - correct answer Net Capital Dollar Requirement of Clearing Broker-Dealer Solely sells limited partnerships - correct answer DPP BD $5,000 NC $50,000 - correct answer Net Capital Dollar Requirement of Fully Disclosed Broker Dealer that receives Securities $5,000 - correct answer Net Capital Doll...

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14 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Error Log Question and answers rated A+ 2024/2025 Series 24 Error Log - Investment Banking Which of the following are characteristics of the Securities Act of 1933? Requires registration of exchanges. Called the Truth in Securities Act. Requires full and fair disclosure of material facts. Enabled the Federal Reserve Board to determine margin requirements. - correct answer The Securities Act of 1933 regulates new issues of corporate securities sold to the public. The act is a...

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63 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Error Log Questions with complete solution 2024/2025 Series 24 Error Log - Financial Responsibility A broker/dealer that carries customer accounts and makes a market in eight stocks selling for less than $5 a share must maintain minimum net capital of: A) $1 million. B) $250,000. C) $25,000. D) $100,000. - correct answer The requirement for market makers is $1,000 for each stock selling for $5 or less; $2,500 for each stock selling at more than $5; a minimum requirement of ...

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41 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Databank Questions with complete solution 2024/2025 Series 24 Databank - FINAL 1 The Corporate Financing Rule allows an issuer of securities that are "hot" to direct sales of that issue to which of the following persons? - correct answer However, new issues, whether "hot" or not, cannot be purchased by employees or officers of FINRA member firms, unless these individuals are also employees or officers of the issuer whose shares are being sold through the IPO. If a member f...

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5 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 crunch time facts Question and answers correctly solved 2024/2025 Series 24 crunch time facts Chapter 1 - correct answer o The Effective Date of an IPO is determined by the SEC (NOT FINRA or the issuer). o If the SEC sues an issuer and underwriter for false statements and/or material omissions in a prospectus, the customer may still file a lawsuit against both the issuer and the underwriter. o What would preclude an issuer from obtaining WKSI status? Involvement in bankruptcy i...

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14 pages

Written in 2024/2025

Grade A+

Academia199

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...

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10 pages

Written in 2024/2025

Grade A+

Academia199

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...

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10 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Ch 2 Question and answers rated A+ 2024/2025 Series 24 Ch 2 SEC Uniform Net Capital Rule - correct answer -division of market regulation (DMR) requires actual expenses reduce firm's capital as though there were no expense-sharing agreement. -firm must maintain sufficient net capital every day in which it conducts business and throughout entire trading day. If unable, deemed insolvent, and must cease all security operations. Introducing Firm - correct answer -may operate w...

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15 pages

Written in 2024/2025

Grade A+

Academia199

Series 24 Questions with complete solution 2024/2025 Series 24 1.1 Under SEC Rule 17f-2, an associated person is exempt from the fingerprinting requirement if they submit illegible fingerprint cards on at least how many occasions? - correct answer If 3 fingerprint cards are returned to the member as illegible, that person is exempt from the fingerprinting requirement. What happens when a registered representative has been called into active overseas military duty? - correct answer Wh...

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6 pages

Written in 2024/2025

Grade A+

Academia199

Quiz Notes: Series 24 and answers complete solution 2024/2025 Quiz Notes: Series 24 What is a restricted account? - correct answer Account equity is less than 50% Are variable life insurance securities? - correct answer Yes Variable products and unit investment trusts, in which the return is tied to the performance of a separate account, are considered securities. Who are restricted persons? - correct answer Restricted persons include finders and fiduciaries (such as attorneys...

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68 pages

Written in 2024/2025

Grade A+

Academia199

Q&As Final Exams 3 Series 24 correctly solved 2024/2025 Q&As Final Exams 3 Series 24 Members who have failed to pay required fees and assessments may have their memberships suspended or cancelled upon 15 days' written notice from FINRA. - correct answer Members who have failed to pay required fees and assessments may have their memberships suspended or cancelled upon 15 days' written notice from FINRA. Which of the following securities offerings would require the disclosure to FINRA t...

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17 pages

Written in 2024/2025

Grade A+

Academia199

Progress Exam 2 Question and answers already passed 2024/2025 Progress Exam 2B - Series 24 Which of the following statements is TRUE regarding simplified arbitration? A. This process is used only if the dispute involves public customers. B. The panel in this process may be made up solely of 3 or more unaffiliated arbitrators. C. There is only one arbitrator. D. This process may only be used by member firms. - correct answer C. There is only one arbitrator. Simplified arbitra...

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19 pages

Written in 2024/2025

Grade A+

Academia199

Progress Exam 1 Question and answers 100% correct 2024/2025 Progress Exam 1B - Series 24 The BOD of a listed issuer is considering taking the company private. Which of the following is TRUE? A. This activity requires the approval from FINRA and the filing of a Reg. D disclosure form. B. The issuer must reduce the number of voting shareholders below 100 before it can go private. C. Schedule 13 E-3 must be filed with the SEC. D. All current shareholders must be given the opportunit...

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17 pages

Written in 2024/2025

Grade A+

Academia199