Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Certdemy Premium Access
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
Participation in the System as a Clearing Broker shall be conditioned upon the Clearing Broker’s initial and continuing compliance with which of the following requirements?
I. Execution of, and continuing compliance with, a Participant Application Agreement
II. Membership in, or maintenance of an effective clearing arrangement with a participant of, a clearing agency registered pursuant to the Exchange Act
III. Membership in a clearing agency registered pursuant to the Exchange Act
IV. ompliance with all applicable rules and operating procedures of FINRA and the SECCorrect
FINRA Rule 7300 — OTC Reporting Facility
7320. Trade Reporting Participation Requirements
Participation in the System as a Clearing Broker shall be conditioned upon the Clearing Broker’s initial and continuing compliance with the following requirements:
(A) execution of, and continuing compliance with, a Participant Application Agreement;
(B) membership in a clearing agency registered pursuant to the Exchange Act;
(C) compliance with all applicable rules and operating procedures of FINRA and the SEC;
(D) maintenance of the physical security of the equipment located on the premises of the Clearing Broker to prevent the unauthorized entry of information into the SystemIncorrect
FINRA Rule 7300 — OTC Reporting Facility
7320. Trade Reporting Participation Requirements
Participation in the System as a Clearing Broker shall be conditioned upon the Clearing Broker’s initial and continuing compliance with the following requirements:
(A) execution of, and continuing compliance with, a Participant Application Agreement;
(B) membership in a clearing agency registered pursuant to the Exchange Act;
(C) compliance with all applicable rules and operating procedures of FINRA and the SEC;
(D) maintenance of the physical security of the equipment located on the premises of the Clearing Broker to prevent the unauthorized entry of information into the System -
Question 2 of 10
2. Question
Which of the following information must be provided for each transaction that is reported to the System. Unless the contra side will have an opportunity to provide its own trade information, the Reporting Member is responsible for the complete and accurate submission of information for both sides of the trade?
I. Demographic information of the Board
II. Security identification symbol of the eligible security (SECID)
III. Number of shares
IV. Unit price, excluding commissions, mark-ups or mark-downsCorrect
FINRA Rule 7300 — OTC Reporting Facility
7330. Trade Report Input
(d) Trade Information To Be Input
The information listed below must be provided for each transaction that is reported to the System. Unless the contra side will have an opportunity to provide its own trade information, the Reporting Member is responsible for the complete and accurate submission of information for both sides of the trade.
(1) Security identification symbol of the eligible security (SECID);
(2) Number of shares;
(3) Unit price, excluding commissions, mark-ups or mark-downsIncorrect
FINRA Rule 7300 — OTC Reporting Facility
7330. Trade Report Input
(d) Trade Information To Be Input
The information listed below must be provided for each transaction that is reported to the System. Unless the contra side will have an opportunity to provide its own trade information, the Reporting Member is responsible for the complete and accurate submission of information for both sides of the trade.
(1) Security identification symbol of the eligible security (SECID);
(2) Number of shares;
(3) Unit price, excluding commissions, mark-ups or mark-downs -
Question 3 of 10
3. Question
What is the information should be included in each last sale report?
I. Stock symbol of the designated security
II. Number of shares or bonds
III. A symbol indicating whether the transaction is a buy, sell or cross, and if applicable, sell short or sell short exempt
IV. Number of employeesCorrect
FINRA Rule 6280
6282. Transactions Reported by Members to the ADF
(c) Information To Be ReportedEach last sale report shall contain the following information:
(1) Stock symbol of the designated security;
(2) Number of shares or bonds;
(3) Price of the transaction as required by paragraph (d) below;
(4) A symbol indicating whether the transaction is a buy, sell or cross, and if applicable, sell short or sell short exempt;Incorrect
FINRA Rule 6280
6282. Transactions Reported by Members to the ADF
(c) Information To Be ReportedEach last sale report shall contain the following information:
(1) Stock symbol of the designated security;
(2) Number of shares or bonds;
(3) Price of the transaction as required by paragraph (d) below;
(4) A symbol indicating whether the transaction is a buy, sell or cross, and if applicable, sell short or sell short exempt; -
Question 4 of 10
4. Question
Which of the following refer to that part of the debtor’s compensation (including, but not limited to, salary, bonuses, commissions, and vacation pay) from an employer remaining after the deduction of health insurance premiums and any amounts required by law to be withheld?
Correct
PART 204—RULES RELATING TO DEBT COLLECTION
204.62 Definitions.
Disposable pay means that part of the debtor’s compensation (including, but not limited to, salary, bonuses, commissions, and vacation pay) from an employer remaining after the deduction of health insurance premiums and any amounts required by law to be withheld.Incorrect
PART 204—RULES RELATING TO DEBT COLLECTION
204.62 Definitions.
Disposable pay means that part of the debtor’s compensation (including, but not limited to, salary, bonuses, commissions, and vacation pay) from an employer remaining after the deduction of health insurance premiums and any amounts required by law to be withheld. -
Question 5 of 10
5. Question
What is the minimum quotation size for the bid or off between 0.10-0.1999?
Correct
FINRA Rule 6400 Series — Quoting and Trading in OTC Equity Securities
6433. Minimum Quotation Size Requirements For OTC Equity Securities
Quotation size for bid or offer between 0.10-0.1999 is 5,000Incorrect
FINRA Rule 6400 Series — Quoting and Trading in OTC Equity Securities
6433. Minimum Quotation Size Requirements For OTC Equity Securities
Quotation size for bid or offer between 0.10-0.1999 is 5,000 -
Question 6 of 10
6. Question
Which of the following delivery shall be made at the office of the purchaser on the date on which the option expires?
Correct
FINRA/Nasdaq Uniform Practice Codes
Rule 11320 — Dates of Delivery
(d) “Buyer’s Option”
In connection with a transaction “buyer’s option,” delivery shall be made at the office of the purchaser on the date on which the option expires.Incorrect
FINRA/Nasdaq Uniform Practice Codes
Rule 11320 — Dates of Delivery
(d) “Buyer’s Option”
In connection with a transaction “buyer’s option,” delivery shall be made at the office of the purchaser on the date on which the option expires. -
Question 7 of 10
7. Question
A member’s registration as an ADF Market Participant shall not become effective until:
I. The member has received a notice of approval from FINRA in the designated security types specified in the member’s application pursuant to specifies whether the member is seeking registration in Nasdaq and/or CQS securities
II. The member has executed the Certification Record pursuant to execute the Certification Record, as defined in Rule 6220
III. FINRA and the member have executed execute a Participant Agreement with FINRA at least six months (or such other shorter time period as may be designated by FINRA) prior to quoting or reporting trades on the ADF
IV. Certifies the member’s good standing with FINRACorrect
FINRA Alternative Display Facility (ADF) Rule 6200 Series
6271. Registration as an ADF Market Maker or ADF ECN
(b) A member’s registration as an ADF Market Participant shall not become effective until:
(1) the member has received a notice of approval from FINRA in the designated security types specified in the member’s application pursuant to paragraph (a)(1)(A);
(2) the member has executed the Certification Record pursuant to paragraph (a)(2); and
(3) FINRA and the member have executed:
(A) the application pursuant to paragraph (a)(1); and
(B) the Participant Agreement pursuant to paragraph (a)(3).Incorrect
FINRA Alternative Display Facility (ADF) Rule 6200 Series
6271. Registration as an ADF Market Maker or ADF ECN
(b) A member’s registration as an ADF Market Participant shall not become effective until:
(1) the member has received a notice of approval from FINRA in the designated security types specified in the member’s application pursuant to paragraph (a)(1)(A);
(2) the member has executed the Certification Record pursuant to paragraph (a)(2); and
(3) FINRA and the member have executed:
(A) the application pursuant to paragraph (a)(1); and
(B) the Participant Agreement pursuant to paragraph (a)(3). -
Question 8 of 10
8. Question
Indirect Beneficial Owners. For the purposes of Rule 5131(b), a member may rely upon a written representation obtained within the prior 12 months from a person authorized to represent an account that does not look through to the beneficial owners of any unaffiliated private fund invested in the account, except for beneficial owners that are control persons of the investment adviser to such private fund, that such unaffiliated private fund:
I. is managed by an investment adviser
II. has assets greater than $50 million
III. owns less than 25% of the account and is not a fund in which a single investor has a beneficial interest of 25% or more
IV. was not formed for the specific purpose of investing in the accountCorrect
FINRA Rule 5131 — New Issue Allocations and Distributions
5131. New Issue Allocations and Distributions
Indirect Beneficial Owners. For the purposes of Rule 5131(b), a member may rely upon a written representation obtained within the prior 12 months from a person authorized to represent an account that does not look through to the beneficial owners of any unaffiliated private fund invested in the account, except for beneficial owners that are control persons of the investment adviser to such private fund, that such unaffiliated private fund:
(1) is managed by an investment adviser;
(2) has assets greater than $50 million;
(3) owns less than 25% of the account and is not a fund in which a single investor has a beneficial interest of 25% or more; and
(4) was not formed for the specific purpose of investing in the account.Incorrect
FINRA Rule 5131 — New Issue Allocations and Distributions
5131. New Issue Allocations and Distributions
Indirect Beneficial Owners. For the purposes of Rule 5131(b), a member may rely upon a written representation obtained within the prior 12 months from a person authorized to represent an account that does not look through to the beneficial owners of any unaffiliated private fund invested in the account, except for beneficial owners that are control persons of the investment adviser to such private fund, that such unaffiliated private fund:
(1) is managed by an investment adviser;
(2) has assets greater than $50 million;
(3) owns less than 25% of the account and is not a fund in which a single investor has a beneficial interest of 25% or more; and
(4) was not formed for the specific purpose of investing in the account. -
Question 9 of 10
9. Question
Promissory notes, other obligations or installment contracts. Giving the issuer or affiliate of the issuer from whom the securities were purchased a promissory note or other obligation to pay the purchase price, or entering into an installment purchase contract with such seller, shall not be deemed full payment of the purchase price unless the promissory note, obligation or contract:
I. A written statement from the issuer that it has complied with such reporting or submission requirements.
II. Provides for full recourse against the purchaser of the securities
III. Is secured by collateral, other than the securities purchased, having a fair market value at least equal to the purchase price of the securities purchased
IV. Shall have been discharged by payment in full prior to the sale of the securities.Correct
Securities Act of 1933 (Securities Act) Rule 144 — Persons Deemed Not to be Engaged in a Distribution and Therefore Not Underwriters
Promissory notes, other obligations or installment contracts. Giving the issuer or affiliate of the issuer from whom the securities were purchased a promissory note or other obligation to pay the purchase price, or entering into an installment purchase contract with such seller, shall not be deemed full payment of the purchase price unless the promissory note, obligation or contract:
(i) Provides for full recourse against the purchaser of the securities;
(ii) Is secured by collateral, other than the securities purchased, having a fair market value at least equal to the purchase price of the securities purchased; and
(iii) Shall have been discharged by payment in full prior to the sale of the securities.
Incorrect
Securities Act of 1933 (Securities Act) Rule 144 — Persons Deemed Not to be Engaged in a Distribution and Therefore Not Underwriters
Promissory notes, other obligations or installment contracts. Giving the issuer or affiliate of the issuer from whom the securities were purchased a promissory note or other obligation to pay the purchase price, or entering into an installment purchase contract with such seller, shall not be deemed full payment of the purchase price unless the promissory note, obligation or contract:
(i) Provides for full recourse against the purchaser of the securities;
(ii) Is secured by collateral, other than the securities purchased, having a fair market value at least equal to the purchase price of the securities purchased; and
(iii) Shall have been discharged by payment in full prior to the sale of the securities.
-
Question 10 of 10
10. Question
Which of the following Published Trading Information will be presented on FINRA’s web site?
I. Trading Information will be aggregated for all Market Participant Identifiers (MPIDs) used by a single member (excluding, if applicable, any MPIDs used by the member for reporting trades executed in its alternative trading system)
II. Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day across all NMS stocks during the applicable Trading Information period
III. Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day in an NMS stock during the applicable Trading Information period
IV. Trading Information will be aggregated no earlier than one month following the end of the Trading Information month, aggregate volume totals across all NMS stocksCorrect
FINRA Rule 6110 — Trading Otherwise than on an Exchange
6110. Trading Otherwise than on an Exchange(2) Published Trading Information will be presented on FINRA’s web site as follows:
(A) Trading Information will be aggregated for all Market Participant Identifiers (MPIDs) used by a single member (excluding, if applicable, any MPIDs used by the member for reporting trades executed in its alternative trading system).
(B) Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day across all NMS stocks during the applicable Trading Information period.
(C) Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day in an NMS stock during the applicable Trading Information period.Incorrect
FINRA Rule 6110 — Trading Otherwise than on an Exchange
6110. Trading Otherwise than on an Exchange(2) Published Trading Information will be presented on FINRA’s web site as follows:
(A) Trading Information will be aggregated for all Market Participant Identifiers (MPIDs) used by a single member (excluding, if applicable, any MPIDs used by the member for reporting trades executed in its alternative trading system).
(B) Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day across all NMS stocks during the applicable Trading Information period.
(C) Trading Information will be aggregated for members that have executed on average fewer than 200 transactions per day in an NMS stock during the applicable Trading Information period.