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Question 1 of 10
1. Question
Under FINRA Rule 3110, after filing form with FINRA, what is the maximum period for a member to implement procedures to verify the authenticity of applicant’s information?
Correct
The member must establish and implement procedures in maximum 30 days to proceed further to verify applicant’s initials.
Incorrect
The member must establish and implement procedures in maximum 30 days to proceed further to verify applicant’s initials.
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Question 2 of 10
2. Question
Under FINRA Rule 3110, which of the following takes place in an office of supervision jurisdiction?
Correct
An office of a member is the office of supervision jurisdiction, where final approval of new accounts are made on the behalf of the member.
Incorrect
An office of a member is the office of supervision jurisdiction, where final approval of new accounts are made on the behalf of the member.
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Question 3 of 10
3. Question
As quoted in Rule 3110, The term “covered account” shall include any account introduced or carried by the member that is held by, except:
Correct
Covered account shall not include any other individual over whose account the associated person of the member is by blood to him somehow.
Incorrect
Covered account shall not include any other individual over whose account the associated person of the member is by blood to him somehow.
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Question 4 of 10
4. Question
According to rule 3110, what can an branch office manager of offices also be called as?
Correct
An OSJ manager also be called branch officer manager of offices.
Incorrect
An OSJ manager also be called branch officer manager of offices.
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Question 5 of 10
5. Question
Under Rule 3110, the supervisory reviews must require the member’s review on:
Correct
The supervisory reviews must require the member’s review on internal communications to properly identify those communications that are of a subject matter that require review under FINRA rules and federal securities laws.
Incorrect
The supervisory reviews must require the member’s review on internal communications to properly identify those communications that are of a subject matter that require review under FINRA rules and federal securities laws.
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Question 6 of 10
6. Question
As written in Rule 3110, each member must conduct an internal investigation in trade to determine:
Correct
Member shall conduct an internal investigation to determine whether there is any violation of laws or rules that has occurred.
Incorrect
Member shall conduct an internal investigation to determine whether there is any violation of laws or rules that has occurred.
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Question 7 of 10
7. Question
Under FINRA Rule 3110, if the applicant has already been registered to FINRA, that member shall review; which of the following:
Correct
If the applicant has already been registered in FINRA, that member shall review a copy of the applicant’s most recent Form U5.
Incorrect
If the applicant has already been registered in FINRA, that member shall review a copy of the applicant’s most recent Form U5.
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Question 8 of 10
8. Question
As written in Rule 3110, an inspection and review by a member must be reduced to a written report and kept on file by the member for a minimum years of?
Correct
An inspection and review by a member must be reduced to a written report and kept on file by the member for a minimum of three years.
Incorrect
An inspection and review by a member must be reduced to a written report and kept on file by the member for a minimum of three years.
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Question 9 of 10
9. Question
Under FINRA Rule 3270, what requirements under rule 3280 shall be exempted?
Correct
Passive investments and activities subject to the requirements of Rule 3280 shall be exempted from this requirement.
Incorrect
Passive investments and activities subject to the requirements of Rule 3280 shall be exempted from this requirement.
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Question 10 of 10
10. Question
As mentioned in FINRA Rule 3110, how many least hours an associated person should spend at his designated branch office, during the hours in which the office is open for business?
Correct
The associated person must spend at least four hours on that business day.
Incorrect
The associated person must spend at least four hours on that business day.