Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Certdemy free practice questions
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
Which of the following statements is true regarding the definition of a Broker?
Correct
Broker is defined as any person engaged in the business of buying and selling securities on behalf of others, usually fulfilling transaction orders placed by investors in exchange for a fee.
Incorrect
Broker is defined as any person engaged in the business of buying and selling securities on behalf of others, usually fulfilling transaction orders placed by investors in exchange for a fee.
-
Question 2 of 10
2. Question
The Definition of a Dealer is…
Correct
Dealer is defined as any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise.
Incorrect
Dealer is defined as any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise.
-
Question 3 of 10
3. Question
The Definition of Investment Contract has been the subject of a great deal of Supreme Court activity in the interpretation of…
Correct
The Definition of Investment Contract has been the subject of a great deal of Supreme Court activity in the interpretation of
whether or not certain transactions qualify as investment contracts, thus requiring registration.Incorrect
The Definition of Investment Contract has been the subject of a great deal of Supreme Court activity in the interpretation of
whether or not certain transactions qualify as investment contracts, thus requiring registration. -
Question 4 of 10
4. Question
How does FINRA protect America’s investors?
Correct
FINRA protects America’s investors by providing for the registration and education of all securities brokers, monitoring trading on national securities exchanges, developing new rules and regulations to react to changing market conditions and technology, and providing a forum for arbitration and dispute resolution.
Incorrect
FINRA protects America’s investors by providing for the registration and education of all securities brokers, monitoring trading on national securities exchanges, developing new rules and regulations to react to changing market conditions and technology, and providing a forum for arbitration and dispute resolution.
-
Question 5 of 10
5. Question
Eligibility will be revoked if…
Correct
If the member fails to continue to satisfy the filing requirements of the by-laws.
Incorrect
If the member fails to continue to satisfy the filing requirements of the by-laws.
-
Question 6 of 10
6. Question
A member must give …. to FINRA within 30 days following the termination of an associated person.
Correct
A member must give notice of the termination to FINRA within 30 days following the termination of an associated person.
Incorrect
A member must give notice of the termination to FINRA within 30 days following the termination of an associated person.
-
Question 7 of 10
7. Question
Which of the following statements is/are true regarding the provision related to the retention of jurisdiction?
Correct
former member or associated person will still be subject to the filing of a complaint under FINRA’s rules for any actions taken by the member or associated person prior to the resignation, cancellation or revocation of their membership. And complaints may only be filed for up to 2 years following the effective date of the resignation, cancellation, or revocation.
Incorrect
former member or associated person will still be subject to the filing of a complaint under FINRA’s rules for any actions taken by the member or associated person prior to the resignation, cancellation or revocation of their membership. And complaints may only be filed for up to 2 years following the effective date of the resignation, cancellation, or revocation.
-
Question 8 of 10
8. Question
The new member application shall consist of the 10 pieces of information,one of which is a description of any recent civil or criminal proceedings, pursuant to which rule?
Correct
Pursuant to NASD Rule 1013, the new member application shall consist of the following information:
1. Form NMA
2. An original signed and notarized paper Form BD
3. An original FINRA-approved fingerprint card for each associated person
4. A new member assessment report
5. A detailed business plan, including financial statements, organizational chart, locations of businesses, types of securities to be offered, description of sales practices, description of business facilities and copies of any lease or purchase agreements, and any other such information that may impact financial performance over the following 12 months
6. A description of any recent civil or criminal proceedings
7. A description of the record-keeping system to be utilized
8. A description of the supervisory system and procedures to be utilized
9. A description of the experience and qualifications of supervisors and registered principals
10. An agreement to abide by Firm Element continuing education requirementsIncorrect
Pursuant to NASD Rule 1013, the new member application shall consist of the following information:
1. Form NMA
2. An original signed and notarized paper Form BD
3. An original FINRA-approved fingerprint card for each associated person
4. A new member assessment report
5. A detailed business plan, including financial statements, organizational chart, locations of businesses, types of securities to be offered, description of sales practices, description of business facilities and copies of any lease or purchase agreements, and any other such information that may impact financial performance over the following 12 months
6. A description of any recent civil or criminal proceedings
7. A description of the record-keeping system to be utilized
8. A description of the supervisory system and procedures to be utilized
9. A description of the experience and qualifications of supervisors and registered principals
10. An agreement to abide by Firm Element continuing education requirements -
Question 9 of 10
9. Question
From which rule or code the categories of the representatives are provided?
Correct
NASD Rule 1030.
Incorrect
NASD Rule 1030.
-
Question 10 of 10
10. Question
Which of the following statements is NOT true regarding a regulated investment company?
Correct
As provided by Section 851 of the Internal Revenue Code, a regulated investment company is defined as a company that:
1. Files each year with its tax return an election to be considered a regulated investment company
2. Has at least 90 percent of its income derived from dividends, interest, payments with respect to securities loans, gains from the sale or other disposition of stock of securities or net income derived from an interest in a qualified publicly traded partnership
3. At the close of each quarter has at least 50 percent of its taxable assets represented by cash, government securities, and securities of other regulated investment companies, and all other securities are limited to having not more than 5 percent represented by any one issuerIncorrect
As provided by Section 851 of the Internal Revenue Code, a regulated investment company is defined as a company that:
1. Files each year with its tax return an election to be considered a regulated investment company
2. Has at least 90 percent of its income derived from dividends, interest, payments with respect to securities loans, gains from the sale or other disposition of stock of securities or net income derived from an interest in a qualified publicly traded partnership
3. At the close of each quarter has at least 50 percent of its taxable assets represented by cash, government securities, and securities of other regulated investment companies, and all other securities are limited to having not more than 5 percent represented by any one issuer