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SIE > Important Timelines > Flashcards

Important Timelines Flashcards

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SIE Exam flashcards
1
Q

settlement day for cash

A

Same Day

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2
Q

Regular way settlement for U.S. Government securities and options

A

T+1

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3
Q

Regular way settlement for Municipal and corporate securities, and Mutual Funds

A

T+2

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4
Q

amount of time specific financial information for a mutual fund can be used in a prospectus

A

16 months

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5
Q

max time customer can place options before signed option agreement required

A

15 Days

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6
Q

How long is the cooling off period?

A

20 Calendar Day

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7
Q

Statue of limitations for fraud

A

5 Years from violation or 2 from Discovery

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8
Q

Statute of Limitations for Securities Violations

A

Federal - 3 Years from violation/1 From Discovery. State - 3 Years from violation/2 From State

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9
Q

Retail/Correspondence Communication

A

25 retail investors within 30 days/Less than 25 within 30 days

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10
Q

Copies of retail comm. must be filed with FINRA ?

A

<1 Year - at least ten days before use. >1 year, within 10 days of first use

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11
Q

How old can the company’s do not call and FTC Do not call lists be?

A

No more than 30 days old

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12
Q

Account record requirements?

A

Furnish a copy within 30 days. Updated account within 30 days notification, at least every 3 years

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13
Q

Account statement requirements?

A

At least every quarter

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14
Q

What regulation requires privacy notice at relationship establishment and annually?

A

Regulation S-P

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15
Q

What is on the Form U4

A

5 year residency and 10 year employment history. Any statutory disqualifications must be filed within 10 business days. Any standard changes must be filed with central registration depository no later than 30 days after member is made aware.

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16
Q

Form U5

A

within 30 days of termination/resignation. Two years jurisdiction for FINRA and regulators. No need to requalify within the 2 years

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17
Q

The SIE is good for?

A

4 Years

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18
Q

How does military service affect registration?

A

Special inactive service until 90 days after leaving service. Two years start at the end of the 90 days

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19
Q

Statutory disqualification

A

felony conviction or misdemeanor conviction involving securities or money within the past 10 years

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20
Q

SIPC coverage

A

must be given to new customers at the account opening and once each year thereafter

21
Q

Contemporaneous traders

A

may bring a suit against an insider trader up to five years after the violation

22
Q

Temporary Holds on disbursements and review of financial exploitation

A

can be no longer than 15 days and notification must be sent no later than two days after the hold started

23
Q

Firm Partnership agreement or corporate charter, and BOD meeting minutes

A

must be held for the life of the firm

24
Q

Stock records, general ledger, and customer account records

A

Must be held for 6 years

25
Q

SAR Records

A

must be held for 5 years

26
Q

Written complaints records

A

must be held for 4 years

27
Q

Report listing all written complaints is filed with FINRA

A

within 15 days of the end of each calendar quarter

28
Q

what is the penalty for freeriding?

A

account frozen for 90 days

29
Q

Regulation Crowdfunding

A

Investors cannot sell securities for 12 months and companies can raise up to $5M

30
Q

SEC Customer Protection Rule

A

stock in a valid transfer location is considered a good control location for a maximum of 40 days

31
Q

Requirement to open a Coverdell ESA. also, how long does the person have to withdraw the funds after they turn 30?

A

Child must be under 18 and 30 days

32
Q

Customer Protection Rule

A

BD must make a deposit no later than 2 days after the date of calculation

33
Q

IRA Rollovers have a time limit of

A

60 DAYS

34
Q

Mutual Funds and Margin

A

cannot be bought on margin but can be used as collateral after being held for 30 days

35
Q

Customer Relationship Summary (CRS)

A

must be delivered before the earliest of entering into an investment advisory contract or the opening of a brokerage account for the retail investor

36
Q

Customer must pay for purchases in accordance with Reg T within

A

4 business days

37
Q

Which Act deals with Misusing nonpublic information

A

Securities and Exchange Act of 1934

38
Q

Cash value of variable annuity required to be calculated

A

at least monthly

39
Q

Letter of Instruction (LOI)

A

13-month window begins date of original purchase and can be backdated 90 days

40
Q

Companies are required to notify FINRA of corporate actions

A

10 days prior to the record date

41
Q

Review of unusual activity must be maintained for

A

18 months

42
Q

Performance stats in a mutual fund prospectus must be updated every

A

12 months

43
Q

Ex date for Stocks/Mutual Funds

A

Day before Record Date/Day after Record Date

44
Q

Face amount certificates have a maturity of at least

A

24 months

45
Q

FINRA members must report violations within

A

30 days

46
Q

An issuer with average DTV of at least $100K and $25M in public float has a restriction period of

A

1 Day

47
Q

The purchase of an equity option settles on __ and the exercise of an equity option settles on __

A

T+1 and T+2

48
Q

To qualify as a conduit, a mutual fund must pay out a minimum of?

A

90% of net income

SIE (3 decks)

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