4 Registrations Flashcards by Brandy S | Brainscape

Q

Series 7

Series 66

A

General Securities

Limited Rep, mutual funds, var contracts, UW for closed end funds

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Q

U4

U5

A

to register, principal signs

w/in 30 day of leaving a firm

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Q

CE

A

2 yr anniversary

every 3 yrs after

violations & fines of 5k

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Q

Series 79

A

investment banking rep

primary mkt

not sales (secondary mkt)

doesn’t apply to munies or dPPs

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Q

Series 24

A

Principal

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Q

Series 86 & 87

A

research analyst

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Q

out for how many years retake exam?

A

2 years

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Q

Registration exempt for (4)

A

nominal corp officer
munies
commodities
futures or stock exchange filling orders

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Q

correspondence

A

distributed to <=25 investors

w/in 30 cal days

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Q

institutional communication

A

assets 50 MM

100 participants

FINRA member

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Q

retail communication

A

25+ investors w/n 30 cal days

approved by 24

filed w/ FINRA w/in 10 days of use

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Q

speaking engagement

record retention req

A

3 years

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Q

Prefiled Commission

A

inv co rank

not publised or created by inv co

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Q

Filings include (3)

A

date of 1st use
name, title, CRD or approving 24
date approved

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Q

Report to shareholders - how often

Public Co

Mutual Funds

A

Quarterly

Semi annually

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Q

fail exam 3 times must wait

A

6 months

Q

DBA must be filed with

A

FINRA & SEC

Q

arbitrations

amt of acct

number arbitrators

A

> 100k

3 unless both parties agree to 1

arbitratiors from public

Q

How many days to supply

client w/ copy of arbitration agreement?

A

10 bus days

Q

ad w/ options

file with FINRA when

A

10 bus days prior to use

Q

Max fine for minor rule violation

A

2500

Q

arbitration responses

A

45 days

Q

no registration if

A

felony w/ in 10 yrs

or $ related misdemanor

Q

SIPC

coverage amounts

A

500k

of which only 250k can be cash

Q

Insider trading penalty fee

RR

BD

A

the greater of

3 x profit or

RR - 5MM

BD - 25MM