Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Series 7, Kaplan 3rd Edition > Unit 17 > Flashcards

Unit 17 Flashcards

You may prefer our related Brainscape-certified flashcards:
Series 7 Top-off Exam flashcards
1
Q

NASDAQ

A

National association of securities dealers automated quotation (service)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

CAT

A

Consolidated audit trail

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

NMS

A

National market system

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

ATS

A

Alternative trading systems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

TRACE

A

Trade reporting and compliance engine (not execution)
Corporate debt
Govt agency debt
ABS
CMO

Not
Foreign debt
Money market
Debt securities that are not depository trust eligible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

TRFs

A

Trade reporting facilities
Stock listed on NYSE and NASDAQ
trades made OTC

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

EMMA

A

Electronic municipal market access
Operated by MSRB
Municipal securities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

ARC

A

Auction rate securities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

CUSIP

A

Committee on Uniform Securities Identification Procedures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

ECN

A

Electronic Communications Network
4th market
Institutional investors
Open 24 hours/day

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

UPC

A

Uniform Practice Code
Created by FINRA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Settlement date

A

The date the ownership changes between buyer and seller

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

DEA

A

Designated examining authority

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

ACT

A

Automated confirmation transaction
If one side does not recognize the details of the trade, DK (don’t know) notice is electronically sent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Due bills

A

Sent by broker-dealer when the wrong party receives a dividend, interest, or rights from the issuer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Transfer agent

A

The final arbiter of whether a security meets the requirements of good delivery

17
Q

Surety bond

A

A form of insurance protecting the transfer agent from claims

18
Q

Reclamation

A

Later discovery that certificates were not “good delivery”
Uniform Reclamation Form
Exceptions
1 - bond certificate subject to an in-whole call
2 - bonds where the issuer goes into default after the trade date

19
Q

DRS

A

Direct Registration System
The ownership is recorded electronically (book-entry) in the name of the investor on the issuer’s records

Series 7, Kaplan 3rd Edition (15 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions