Unit 17: Processing Transactions Flashcards
1
Q
Equity trades report when?
A
within 10 seconds
2
Q
Debt trades report when?
A
within 15 minutes
3
Q
Order Ticket (memorandum)
A
Discretionary or not
Solicited or not
Does not include: commissions/fees or settlement date
4
Q
Supervisor approval occurs when?
A
Promptly after execution
5
Q
“$12.00 net” means
A
$12 a share inclusive of all fees
6
Q
Riskless and Simultaneous
A
Shares are sold as they are purchased
7
Q
A broker dealer receives a trade comparison for a trade it does not recognize. The broker must submit what?
A
Don’t know notice
8
Q
Default BD record retention period for most business records:
A
6 years
9
Q
Customer complaints held for how long?
A
4 years
