Crunch numbers Flashcards
Typically, investment companies are allowed no more than ____ days from request to complete a redemption.
7 days
Mutual funds are required to provide a ___________ report to their shareholders.
semiannual report
When buying securities in a restricted margin account, clients must deposit ___% of the trade within ____ business days.
50%
within 3 business days
What exception allows an underwriting manager to immediately publish research on a company due to a significant event?
Hot News exception
When is a non-branch office inspected?
Periodically
When is settlement for a transaction that’s using a seller’s option settlement?
On a date that’s agreed on by both parties, but not earlier than two business days after the trade date.
If a client’s equity falls below 25%, the maintenance call must be met ____.
Promptly
If securities are in transit and are identified as such, the buy-in will be delayed for ______ calendar days.
seven calendar days.
For SEC purposes, if an insider purchases or sells his stock, what form is filed and when is it filed?
Form 4 must be filed with the SEC within two business days of the trade.
Within what period must any required adjustment be made to a firm’s fidelity bond?
Within 60 days of the anniversary of posting the bond
BDs are required to monitor the status of all fully paid and excess margin securities on a _______ basis.
daily basis
What is a Private Investment in Public Equity (PIPE)?
When a BD acts as a placement agent for restricted securities of an issuer whose securities are already publicly traded.
A net capital adjustment is required for short securities differences remaining unresolved after _______ business days.
seven business days
If a written complaint relates to general securities activities, for how long are the records required to be maintained?
Four years
To be considered a threshold security, excessive fails-to-deliver must occur for ____ consecutive settlement days.
5 consecutive settlement days
When must a BD buy in the securities if a selling client fails to deliver securities?
S+10
What days may telemarketers place calls to prospective clients
Any day of the year!
What type of transaction is being executed when a client purchases securities with payment made by a third party?
Delivery versus payment (DVP) or collect on delivery (COD)
What type of office must approve or reject a variable contract application, by when and by who?
OSJ, principal within 7 bdays
For how long must a prospectus be provided in the after-market for the IPO of a stock to be listed on an exchange?
25 days
For how long must a prospectus be provided in the after-market for a non-exchange IPO?
90 days
Under the TCPA (Telephone Customer Protection Act), an existing relationship exists if a client has engaged in transactions with a firm within ___ months.
18 months.
An RR discovers securities are lost/missing, when must she report this fact to the SIC and transfer agent?
within 3 days - 2 days to search for it and 1 day to report
A trial balance used to calculate net capital is prepared ______.
monthly