training 1 Flashcards
principal minimum employees for 1
11
Rule priority SEC vs. MSRB
SEC takes Priority
U4 disclosure time frame for revocation of registrations
lifetime, must always disclose
state issued GO bonds are not typically backed by
real estates taxes
filing G-37
two paper copies
or
online using pdf submission
concession is also called
dealers allowance
municipal research
a firm that provides municipal research to customers is still a municipal securities dealer
interest claimes
10 or 20 days if over 60 days
presale period ends
when contract is signed
contribution limits for 529 plans
no federal limit
states do set limits
Selling to other broker dealers only requires
what registration
when selling only to dealer banks, broker dealers and issuers no registration is required.
TM3 system
delivers extensive, intra-day information relating to the market for municipal securities?
g-32
does not include
The names of the syndicate members and the reoffering yields are not included.
yield and commission
commission is included in yield calcs.
The placement ratio in “The Bond Buyer” indicates the relationship for a particular week between the number of bonds sold and the number of bonds
offered for sale in the market that week.
when does the underwriting period begin
According to MSRB rules, the underwriting period begins when the syndicate purchases the issue from the issuer or when the syndicate receives the first order to purchase the bonds, whichever occurs first.
written permission to open an account for an employee of a member firm
is not required
An administrative assistant employed by a municipal securities broker/dealer to do clerical work wishes to open an account with the firm. The employer would
handle the employee as a member of the public.
residential address records
5 years
recording name of person requesting order
If the account is that of a partnership, corporation, joint account, or an order entered by a person holding a power of attorney over a discretionary account, the name and address of the person entering the order must be noted on the ticket.
* Not required for individual accounts
Using information from a underwriting to solicit other business
Who can’t approve
trustee etc. of issuer. It must actually be the company info was received from
utma rollover into a 529
is allowed
According to the Uniform Practice Code, the settlement date on a “when, as, and if issued” transaction is
a date mutually agreed upon, not earlier than three business days after the date the final confirmation is sent.
all monies due as the result of a buy-in must be paid
10 business days from receipt of the written notice of the claim
cash receipt and disbursement records
6 years
4 examples must be on a confirm
Subject to AMT.
Dated date.
Book-entry form only.
Call price.
minimum exam for supervising
9/10 is the minimum 24 and 53 are higher
MSRB acquisition assessment fee
Acquiring firm would pay the assessment due to acquisition
customer definitiion
individual
