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Series 24 Question and answers correctly solved 2024/2025
Series 24 Question and answers correctly solved 2024/2025 Series 24- Regulations Regulation SHO - correct answer Regulates the practice of selling short. The order tickets must be marked long or short and there must be a locate if short sale. Defines a threshold security as a fail to deliver that has existed for 5 consecutive days. Firms must close out the fail on the 14th business day. Short positions must be reported to FINRA twice a month. Regulation M - correct answer created to p...
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Series 24 Question and answers 100% correct 2024/2025
Series 24 Question and answers 100% correct 2024/2025 Series 24 Markup/Markdown - correct answer When acting as a dealer. Difference between price customer gets when buying/selling stock compared to price another dealer would get -Markup: When Customer is buying stock from a dealer. -Markdown- When customer is selling stock to dealer. Inside Market - correct answer Lowest Ask/Offer and Highest bid The (Limit Order) Display Rule - correct answer -If customer limit order is acce...
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Series 24 Question and answers correctly solved 2024/2025
Series 24 Question and answers correctly solved 2024/2025 Series 24 - chapt 4 -self regulatory organizations - supervision of member firms A broker/dealer has been suspended by FINRA for rule violations. While suspended such a member must - correct answer FINRA Rules state that during a period of suspension the suspended member must be treated as a non-member firm by all other member firms. Are mutual funds subject to finra mark up policy? - correct answer NO, they are sold with a pro...
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Series 24 Question and answers already passed 2024/2025
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...
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Series 24 Question and answers 100% correct 2024/2025
Series 24 Question and answers 100% correct 2024/2025 series 24 - Chap 10 - NASDAQ & MARKET MAKING, NYSE MARKET & DESIGNATED MARKET MAKER to be a market maker in a nasdaq security the BD must maintain a file of... - correct answer 1. current information about the compnay - latest annual report and prospectus 2. have reason to believe the companys filings with SEC are current - SEC / Finra approval is not required for someone to make a market in a particular ecurity Market makers in ...
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series 24 Question and answers rated A+ 2024/2025
series 24 Question and answers rated A+ 2024/2025 Series 24 Security An investment that indicates ownership of a corporation (stock), a creditor of a corporation or a governmental body (bond), or rights to ownership (options, warrants), Securities Act of 1933 Governs the Primary Market, first piece of federal legislation covering the securities industry to set guidelines concerning full and fair disclosure in the primary market with the goal of ensuring that investors are provided wit...
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Series 24 Questions with complete solution 2024/2025
Series 24 Questions with complete solution 2024/2025 Series 24 Variable Annuity Applications Forwarding to Issuer - correct answer Must be forwarded promptly! Variable Annuity Tender within 7 business days - correct answer BD refunds the underwriter and the underwriter refunds to the issuer Research Report Disclosure - correct answer Does not need to disclose if it was a selling group member. Max sales load Mutual Fund - correct answer 8.5% Concessions and Allowances - co...
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Series 24. Question and answers correctly solved 2024/2025
Series 24. Question and answers correctly solved 2024/2025 Series 24 - Uniform Practice Code UPC - correct answer Uniform Practice Code - Establishes rules for dealer to dealer practices in nonexempt securities Regular Way Settlement - correct answer Trade date + 3 (T+3) Cash Settlement - correct answer Same day settlement (before 2:30pm) Seller's Option - correct answer Seller, for good reason, cannot deliver securities by the settlement date. - Earliest seller can make ...
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Series 24 Question and answers rated A+ 2024/2025
Series 24 Question and answers rated A+ 2024/2025 Series 24 - Trading and Mrkt Making Third Market - correct answer Exchange Listed Securities traded OTC ECN - correct answer OTC Alternative Trading System - Member firms that accept orders from institutional customers for execution on an agency basis - Open 24 hours Volutary Withdrawal from NYSE - correct answer BOD must approve File Form 25 with the SEC Cross Stock - correct answer Cannot cross stock unless first offer...
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Series 24 Question and answers correctly solved 2024/2025
Series 24 Question and answers correctly solved 2024/2025 Series 24- Underwriting IPO - correct answer Initial public offering, a corporation's first offer to sell shares to the public follow-on offering - correct answer the sale to the public of additional newly created shares by a company the is already public underwriting syndicate - correct answer a group of other bankers formed by an investment banker to share the financial risk associated with underwriting new securities ...
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Series 24 Question and answers verified to pass 2024/2025
Series 24 Question and answers verified to pass 2024/2025 Series 24 - Quick Sheet 15 days - correct answer Membership revoked or suspended if fees are not paid within ___ days of notice 30 days - correct answer Written notice ____ days in advance of any material change to the firm 10 business days - correct answer Must report registered representative (RR) violations and suspensions within ___ business days 10 years - correct answer SD if convicted of money/securities misdem...
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Series 24 Question and answers already passed 2024/2025
Series 24 Question and answers already passed 2024/2025 Series 24 - 1(B) A Florida investor purchases securities under a Rule 147 offering. After six months he may: A) Only sell the shares to a customer who a resident of the state B) Sell the shares to out-of-state customers C) Only sell the shares to an accredited investor D) Only sell the shares to a QIB - correct answer B) Sell the shares to out-of-state customers EC Rule 147 covers an exemption from registration for the sale of se...
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Series 24 Question and answers 100% correct 2024/2025
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...
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Series 24 Question and answers rated A+ 2024/2025
Series 24 Question and answers rated A+ 2024/2025 Series 24 Section 4(2) - correct answer Exemption from registering if not a public offering Reg D - correct answer A safe harbor. For small companies who can not pay costs to register Section 4(5) - correct answer Similar to reg d, but can only raise 5m and only to accredited investors - no public solicitation S1 registration - correct answer Normal registration for IPOs F-1 - correct answer S1 for foreigns S-3 - cor...
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Series 24 Vocabulary Questions with complete solution 2024/2025
Series 24 Vocabulary Questions with complete solution 2024/2025 Series 24 Vocabulary B/D may publish research reports when not acting as a distribution participant according to Rule ___ - correct answer 137 B/D may publish research reports when acting as a distribution participant for anther class of security (if selling stock, it can comment on debt) according to Rule ____ - correct answer 138 If an issuer is a reporting company, a B/D may publish research reports when acting as a...
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Series 24 Unit 11 Question and answers correctly solved 2024/2025
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...
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Series 24 Unit 4 Questions with complete solution 2024/2025
Series 24 Unit 4 Questions with complete solution 2024/2025 Series 24 Unit 4 FINRA "look back" period rule - correct answer Two years for political contributions, 6 MONTHS for NEWLY COVERED ASSOCIATES. Intended to prevent members from circumventing pay-to-play rule by hiring people who have already made political contributions FINRA pay-to-play rule exceptions - correct answer Associated person, NOT THE FIRM, who makes a financial contribution to a government official who the AP can ...
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Series 24 Total Question and answers correctly solved 2024/2025
Series 24 Total Question and answers correctly solved 2024/2025 Series 24 Total Green Shoe Provision - correct answer Can sell up to 15% overallotment. Must be in prospectus. Firm commitment underwriting only. Settlement for syndicates in an offering is? - correct answer 90 days When do firms file registration statement with Finra? - correct answer 3 business days after filing with SEC. If not filing with SEC, atleast 15 business days prior to first sale. Managing underwriter...
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Series 24 STC Question and answers verified to pass 2024/2025
Series 24 STC Question and answers verified to pass 2024/2025 Series 24 STC A shelf registration may be used by - correct answer Well-known seasoned issuers and seasoned issuers only A corporation has an ADTV value of $3 million and a public float value of $125 million. What's the restricted period for distribution participants in the issue? - correct answer Under Regulation M, the distributions participants of this issue are subject to a one-day restriction during which the firms cou...
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Series 24 STC Chapter 1 Question and answers verified to pass 2024/2025
Series 24 STC Chapter 1 Question and answers verified to pass 2024/2025 Series 24 STC Chapter 1 SRO - correct answer Self-Regulating Organization REIT - Real Estate Investment Trust - correct answer At least 75% of gross income derived solely from real estate rent or interest on mortgages 95% of gross income derived from real estate activities or dividends and interest Must be a trust Must distribute at least 90% of income. Shareholders responsible for tax Nontraded REIT - correc...
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