1 Flashcards
How many business days after the settlement date does a b/d have to buy in a customer who has failed to deliver securities to satisfy a sale?
10
your firm is the managing underwriter for a new issue of ABC common stock. Certain information relating to the terms of the offering must be filed with FINRA within?
1 business day of filing the registration statement
a member firm decides to reduce it excess SIPC coverage. Under FINRA rules, the firm must notify its customers of the reduction when?
at least 30 days before the reduction
a client of your firm requests a copy of the predispute arbitration agreement signed when the account was opened several years ago. Under FINRA rules, your firm must respond within how may business days of the request?
10
Under SEC rule 10b-13, a company that is the target of a tender offer must provide its shareholders with a statement indicating acceptance or rejection of the offer within how many business days of the announcement?
10
the manning rule
the limit order protection rule
certain firms are exempt from the requirement to perform a weekly reserve computation under SEC Rule 15c3-3. The k(2)(ii) exemption applies to what?
introducing firms
FINRA rules require B/Ds to conduct anti-money laudering training when?
on an ongoing basis
a member firm that is required to monitor the telemarketing of its registered reps must provide written reports on its review of the recordings to FINRA how often?
quarterly
Under FINRA rules, carrying firms must advise their customers of the BrokerCheck phone number or Web access how often?
annually
Under FINRA rules, delivery on a seller’s option can be made no sooner that when?
the 4th business day following the transaction
what are the minimum quotation sizes for the OTCBB?
for a priced quote between $1.01 and $10.00 the min quote size is 500 shares. for a priced quote between $10.01 and $100.00 the min dusplay size is 200 shares
if a market maker receives a preferenced order and the firm is not at the inside market, Nasdaq will what?
return the order to the entering party
a qualified distribution from a ROTH IRA is one made after what two things?
a 5-year holding perios and after the taxpayer has reached age 591/2
under SEC rules, b/ds must notify customes of free credit balances at least?
quarterly
a pattern day trader exedcutes at least what?
4 day trades in 5 business days
a member firm that plans to offer customers an investment analysis tool must provide FINRA access to the tool when?
within 10 days of first use
how often are 13F reports filed?
quarterly
a series 55 license is required for whom?
nasdaq market makers, propietary OTC traders, and persons who supervise nasdaq market makers and proprietary OTC traders
Under NYSE rules, unless an order imbalance exists, MOC (market on close) orders cannot be entered after what time?
3:45
Nasdaq’s MOC cut off time is what?
3:50
what act requires parties to a pending business combination rto provide premerger notification information to the FTC?
Hart-Scott-Rodino
a mark to the market is based on what?
contract price in relation to market price
under the provisions of Rule 145 what event would automatically sunject the transaction to the full disclosure and registration requirements set forth in the Act of 1933?
Merger and Acquisitions
SEC Rule 15c2-4 dels with what?
escrow of customer checks in contingent offerings
under NASD rule 3012, hightened supervisory procedures are required if a producing branch manager accounts for what percentage of the revenue of the unit being reviewed?
20% or more
a list of borrowable securities for shortsale must be updated how often?
daily - can’t be more than 24 horus old
PIPE transactions?
accredited investors purchase restricted shares in a publicly traded company and the shares purchased are immeditely registered with the SEC by the issuer
form 144 must be filed with the SEC when?
concurretnly with the sale or earlier
