Days to know

Question 1

What is same business day? (1)

Answer 1

> Settlement date for cash transactions

Question 2

What is 1 business day? (2)

Answer 2

> Regular way settlement for gov securities and options

>Ex-dividend date is 1 day after record date

Question 3

What is 2 business days? (1)

Answer 3

> Regular way settlement for corporate and muni securities (T+2)

Question 4

What is 4 business days? (1)

Answer 4

> Regulation T: cash purchases must be paid in full (regular way settlement (T+2) and Regulation T payment (S+2)

Question 5

What is 15 calendar days? (1)

Answer 5

> Max length of time a customer can place options orders before signed options agreement is required

Question 6

What is 30 calendar days? (1)

Answer 6

> IRS wash sale period before and after a trade

Question 7

What is 60 calendar days? (1)

Answer 7

> Max time to roll over holdings from one QUALIFIED plan to another without penalty

Question 8

What is 90 calendar days? (2)

Answer 8

> Max time for a letter of intent to be backdated

>Length of time cash account can be frozen for non payment

Question 9

What is 13 months? (1)

Answer 9

> Length of time covered by a letter of intent

Question 10

What is 10 business days? (1)

Answer 10

> Amount of time for target company to notify shareholders if it accepted or rejected a tender offer

Question 11

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 ____ business days of the announcement

Answer 11

10 business days
Target company has 10 business days

“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”