General Flashcards

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1
Q

The maximum coverage offered per separate customer under SIPC insurance was set by Congress at

A

$500,000 for securities and cash combined

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2
Q

FDIC insurance covers a customer at a maximum amount of

A

$250,000

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3
Q

The hours of operation of the Chicago Board Options Exchange (CBOE) are:

A. 9:30 a.m. to 4:00 p.m. CT

B. 8:00 a.m. to 8:00 p.m. ET

C. 8:30 a.m. to 3:00 p.m. CT

D. 7:00 a.m. to 7:00 p.m. CT

A

C.

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4
Q

A customer complaint is formally defined as a:

A. Any communication from a customer or a legal representative of a customer regarding misconduct

B. Any written communication from a customer or legal rep of a customer regarding an allegation of a violation of one or more security rules or federal regulations?

C. A written allegation of a violation submitted by a customer

D. None of the above

A

B.

A written allegation: This is formally known as a complaint

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5
Q

A term used, meaning a thinly traded, closely held, low daily volume stocks, where liquidity is not especially present when compared to NYSE and Nasdaq stocks

A

Pink sheets

The pinks

Pink quotes

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6
Q

The Securities & Exchange Commission (SEC) was formed as part of:

A. The Securities Act of 1933

B. The Securities & Exchange Act of 1934

C. The New Deal Legislation

D. None of the above

A

B.

Remember, this act was formalized after the Great depression of 1933 and responds to shoddy investments that were sold to citizens

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