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Question 1 of 10
1. Question
“Time of Execution” for a transaction in a TRACE-Eligible Security means the time when the Parties to a Transaction agree to all of the terms of the transaction that are sufficient to calculate the dollar price of which one of the following:
Correct
The time of execution is linked with the ability of the parties to calculate the dollar price of the trade so the first option is correct.
Incorrect
The time of execution is linked with the ability of the parties to calculate the dollar price of the trade so the first option is correct.
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Question 2 of 10
2. Question
Upon what by FINRA of the TRACE Participant application agreement, a TRACE Participant may commence input of trade information in TRACE-Eligible Securities?
Correct
TRACE Participant may commence input of trade information in TRACE-Eligible Securities only upon its execution and receipt.
Incorrect
TRACE Participant may commence input of trade information in TRACE-Eligible Securities only upon its execution and receipt.
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Question 3 of 10
3. Question
What should be used by the member to report all transactions executed within the Alternative Trading Systems to TRACE?
Correct
Unique Market Participant Identifier shall be used with the Alternative Trading Systems to TRACE.
Incorrect
Unique Market Participant Identifier shall be used with the Alternative Trading Systems to TRACE.
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Question 4 of 10
4. Question
A member must report a transaction in a TRACE-Eligible Security as soon as practicable, but no later than within how many of the Time of Execution, except as otherwise specifically provided?
Correct
15 minutes is the allowed time to report a transaction in a TRACE-Eligible Security
Incorrect
15 minutes is the allowed time to report a transaction in a TRACE-Eligible Security
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Question 5 of 10
5. Question
Transactions in Securitized Products that are Collateralized Mortgage Obligations (“CMOs”) that are executed before the issuance of the security must be reported no later than the which settlement date of the security?
Correct
Transactions in Securitized Products that are Collateralized Mortgage Obligations need to be reported on the date of the first settlement
Incorrect
Transactions in Securitized Products that are Collateralized Mortgage Obligations need to be reported on the date of the first settlement
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Question 6 of 10
6. Question
What is the third component of the member’s ongoing obligation regarding the reporting of transaction information promptly, accurately?
Correct
Promptness, accuracy, and completeness are essential for the reporting of a transaction by a member under an ongoing obligation. So the second option is correct
Incorrect
Promptness, accuracy, and completeness are essential for the reporting of a transaction by a member under an ongoing obligation. So the second option is correct
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Question 7 of 10
7. Question
Which of the following has the primary responsibility of non-delegable duty for the timely, accurate, and complete reporting of transaction information?
Correct
The primary responsibility rest with the Member.
Incorrect
The primary responsibility rest with the Member.
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Question 8 of 10
8. Question
Under Rule 6230 on the obligation of members to report to the Trade Reporting and Compliance Engine (TRACE) transactions in TRACE-eligible securities, Transactions resulting from the exercise or settlement of which of the following or a similar instrument, or the termination or settlement of a credit default which of the following, other types of a swap, or a similar instrument.
Correct
Under Rule 6230 on the obligation of members to report to the Trade Reporting and Compliance Engine (TRACE) transactions in TRACE-eligible securities executed in connection with the exercise or settlement of options; the termination or settlement of (or other events triggering a transaction in TRACE-eligible securities) credit default swaps or other types of swaps;
Incorrect
Under Rule 6230 on the obligation of members to report to the Trade Reporting and Compliance Engine (TRACE) transactions in TRACE-eligible securities executed in connection with the exercise or settlement of options; the termination or settlement of (or other events triggering a transaction in TRACE-eligible securities) credit default swaps or other types of swaps;
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Question 9 of 10
9. Question
A member that is an underwriter or a Securitizer of a which of the following is a managing underwriter for purposes of the rule Obligation to Provide Notice?
Correct
Provision of Notice of a Securitized Product is of the managing underwriter
Incorrect
Provision of Notice of a Securitized Product is of the managing underwriter
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Question 10 of 10
10. Question
Which of the following Participants shall, as soon as practicable but no later than 10 seconds after execution, transmit to the OTC Reporting Facility by telephone to the Operations Department.
Correct
OTC Reporting Facility Participants shall transmit to the OTC Reporting Facility by telephone to the Operations Department.
Incorrect
OTC Reporting Facility Participants shall transmit to the OTC Reporting Facility by telephone to the Operations Department.