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What entity's rules does SEC have to adhere to? correct answers Congress What entity do broker-dealers, registered reps, and exchanges/OTC markets have to adhere to? correct answers FINRA (Financial Industry Regulatory Authority) What entity must municipal securities firms and their professionals adhere to? correct answers Municipal Securities Rulemaking Board (MSRB) Who enforces state security laws? correct answers State Securities Administrators What are state securities laws refe...

What entity's rules does SEC have to adhere to? correct answers Congress What entity do broker-dealers, registered reps, and exchanges/OTC markets have to adhere to? correct answers FINRA (Financial Industry Regulatory Authority) What entity must municipal securities firms and their professionals adhere to? correct answers Municipal Securities Rulemaking Board (MSRB) Who enforces state security laws? correct answers State Securities Administrators What are state securities laws refe...

A married couple who earn over 300,000 currently as well as prior two years correct answers Accredited Investor Which of responses describes an advantage of index funds correct answers The protection of principal during bearish markets Under a system of statutory voting, a common stockholder has as many votes for each vacancy on the board of directors as the number of: correct answers proxies available for voting by the board Which security types provides investors with a stated maturit...

The primary purpose of a syndicate desk in the context of an equity offering is to correct answers Build an order book and allocate the stock A decline in the gross domestic product (GDP) must last for at least how many quarters to be considered a recession? correct answers 2 quarters A customer has a cash balance in her account together with long positions in several securities. She has made no securities transactions in the account during the past 18 months. How often must the firm send ...

The 1933 Securities Act, or the "Paper Act," correct answers is often referred to as the "truth in securities" law. It requires prospectus and full disclosure filings for all new issues (primary market) of securities considered nonexempt, such as corporate stock and bond offerings. The 1934 Securities Exchange Act, or the "People Act," correct answers regulates the trading of securities after they have been issued (secondary market). It also created the Securities and Exchange Commissio...

Call protections is most valuable to a bond owner when bond prices are generally correct answers Rising What risk does not apply to both foreign and domestic debt instruments correct answers exchange When a broker-dealer charges a commission on a securities transaction, it has acted as; correct answers an agent Transaction in which a writer covers a position by purchasing an option is called correct answers closing purchase LOI on MF purchase is valid for what max period of time corr...

FINRA correct answers Financial Industry Regulatory Authority. product of NYSE and NASD merging. Formed in mid 2007 REGISTERED REPRESENTATIVE correct answers any person who accepts or solicits orders to buy or sell. any individual that makes a recommendation to a customer or who performs a suitability determination for a customer. who must be registered correct answers sales personnel operating officers of the broker-dealer securities traders client-facing back office personnel. ...

Under the Securities act of 1933, registration is required for which of the following securities? correct answers American Depositary Receipts Which of the following outcomes are possible for the writer of a covered call option? correct answers Profit limited and loss limited A registered representative (RR) who wants to place a mutual fund advertisement must obtain written approval from which of the following parties? correct answers A registered principal of the RR's firm An investor...

1. Under normal circumstances, a customer's LOI on a mutual fund purchase is valid for what amx period time? A. 3 months B. 6 months C. 13 months 24 months correct answers C. 13 months FinCEN accomplishes its mission to safeguard the financial system from the abuses of financial crime, including terrorist financing and money laundering, by enforcing: A. SEC regulations B. The Bank Secrecy Act C. The Securities Act of 1933 D. The Investment Company Act of 1940 correct answers B. The B...

When is interest on Treasury notes paid? A.) Quarterly B.) Semiannually C.) Annually D.) At maturity correct answers B.) Semi-annually The computation of dollar prices and accrued interest on municipal bonds is normally on what calendar basis? A.) 30/360 B.) 30/365 C.) Actual/360 D.) Actual/365 correct answers A.) 30/360 Which of the following security types provides investors with a stated maturity date, a floating interest rate, and an option to put the security back to a fin...

What is the cost basis of an inherited mutual fund? correct answers The net asset value (NAV) of the shares when the owner dies Under Federal Reserve Regulation T, a 90-day restriction is imposed when a customer opens and closes which of the following positions correct answers the same stock in a cash account without paying for the stock in full An associated person who is not a registered representative is permitted to engage in which of the following activities correct answers provide ac...

What type of risk is unique to a specific industry, business enterprise, or investment type? correct answers Nonsystematic risk Under which of the following circumstances is an investor in a position to acquire stock? correct answers Buy a call, sell a call (The holder of a call has the right to buy stock at the strike price if exercised. The seller of a put is obligated to buy stock at the strike price if exercised) Options- a premium correct answers the cost of an option contract, expres...

The Securities Act of 1933 correct answers The Securities Act of 1933 focused on greater transparency for investors After the stock market crash of 1929, it was passed into law to protect investors. Greater financial transparency and accuracy and less fraud or manipulation. The legislation had two main goals: to ensure more transparency in financial statements so investors could make informed decisions about investments; and to establish laws against misrepresentation and fraudulent ac...

The securities industry's primary regulatory body and created under what act? correct answers SEC, Securities Exchange Act of 1934 Function under the SEC's oversight and is accountable to the Commission for enforcing federal securities laws, as well as supervising securities practices within an assigned jurisdiction. correct answers Self Regulatory organizations (SRO) what are the largest SROs correct answers Financial Industry Regulation Authority (FINRA), Chicago Board Options Exchange...

What is cost basis? A The original purchase price plus any transaction costs B The transaction charges affiliated with the purchase of any security C The net after-tax purchase price per share of common stock D The amount of any gain or loss if a different transaction had occurred correct answers A. The original purchase price plus any transaction costs Which of the following corporate securities carries the greatest risk to the investor? A Commercial paper B Common stock C ...

Roth 401 (k) and Roth individual retirement account (IRA) plans share which of the following features? correct answers Qualified distributions are excluded from federal income tax All of the following risks apply to both foreign and domestic debt instruments except: correct answers Exchange The redemption value of an open-end investment company's shares is based on the: correct answers NAV computed after the order is received A decline in the gross domestic product (GDP) must last for ...

purpose of securities industry correct answers matching investors with money to issuers that need that money to finance issuer correct answers legal entity that sells securities in order to finance its operations (business, governments) ie. us treasury, us gov agencies, foreign governments, state and local governments, corps, banks methods issuers use to raise capital correct answers 1) issue debt securities (bonds) and 2) issues equity securities (stocks) debt securities correct answer...

Which stakeholder has first claim priority in a Chapter 11 proceeding? correct answers Secured Debt Holders What is a firm required to do when receiving cash in excess of $10,000 from one customer in one business day? correct answers File a Currency Transaction Report If a registered representative drives UBER part time, what is required? correct answers They must provide written notification to the firm as mandated by FINRA. A customer has a cash balance in her account with long positi...