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
A confirmation shall include the member’s which of the following for the transaction, to be calculated in compliance with Rule 2121?
Correct
Confirmation under rule 2121 shall contain mark-up or mark-down for a transaction.
Incorrect
Confirmation under rule 2121 shall contain mark-up or mark-down for a transaction.
-
Question 2 of 10
2. Question
Which of the following shall mean a transaction that was conducted through a competitive process in which non-affiliated firms could also participate, and where the affiliate relationship did not influence the price paid or proceeds received by the member?
Correct
A transaction that was conducted through a competitive process in which non-affiliated firms could also participate and prices are not affected by relationship is termed as arms-length transactions
Incorrect
A transaction that was conducted through a competitive process in which non-affiliated firms could also participate and prices are not affected by relationship is termed as arms-length transactions
-
Question 3 of 10
3. Question
Members shall preserve for a period of at least how many days those FINRA books and records for which there are no specified period under the FINRA rules or applicable Exchange Act rules?
Correct
FINRA books and records for which there are no specified period under the FINRA rules or applicable Exchange Act rules shall be kept for six years
Incorrect
FINRA books and records for which there are no specified period under the FINRA rules or applicable Exchange Act rules shall be kept for six years
-
Question 4 of 10
4. Question
Where the written authorization is separate from the which of the following, the member shall preserve the authorization for a period of three years following the date the authorization expires?
Correct
Written authorization under a negotiable instrument shall be preserved for three years.
Incorrect
Written authorization under a negotiable instrument shall be preserved for three years.
-
Question 5 of 10
5. Question
Which of the following should be done before any customer order, is placed upon the order form or other similar records of the member for each transaction, the name or designation of the account (or accounts)?
Correct
The name or designation of the account (or accounts) should be executed before any customer order
Incorrect
The name or designation of the account (or accounts) should be executed before any customer order
-
Question 6 of 10
6. Question
Each member shall maintain a record of which positions in all customer and proprietary firm accounts in all equity securities (other than Restricted Equity Securities as defined in Rule 6420) and shall regularly report such information to which authority in such a manner as may be prescribed?
Correct
Short positions record shall be kept by a member and be reported regularly to FINRA
Incorrect
Short positions record shall be kept by a member and be reported regularly to FINRA
-
Question 7 of 10
7. Question
A member shall suspend all business operations during any period in which it is not in compliance with which of the following applicable requirement set forth in SEA Rule 15c3-1?
Correct
Net Capital requirement must be fulfilled by a member in order to carry out business operations
Incorrect
Net Capital requirement must be fulfilled by a member in order to carry out business operations
-
Question 8 of 10
8. Question
No equity capital of a member may be withdrawn for what period from the date such equity capital is contributed unless otherwise permitted by FINRA in writing?
Correct
No equity capital contributed by a member shall be withdrawn for more than one year
Incorrect
No equity capital contributed by a member shall be withdrawn for more than one year
-
Question 9 of 10
9. Question
A carrying or clearing member shall not, without the prior written approval of FINRA, do following or effect a similar distribution that would reduce such member’s equity?
Correct
Withdrawal of capital or payment of dividend which result in member’s equity cannot be made without prior FINRA approval.
Incorrect
Withdrawal of capital or payment of dividend which result in member’s equity cannot be made without prior FINRA approval.
-
Question 10 of 10
10. Question
A carrying or clearing member shall not make any unsecured advance or loan to a stockholder, partner, sole proprietor, employee or affiliate, where such withdrawals, payments, reductions, advances or loans in the aggregate, in any 35 rolling calendar day period, on a net basis, exceeds what percentage?
Correct
Carrying or clearing member shall not make any unsecured advance or loan to a stockholder, partner, sole proprietor, employee or affiliate, more than 10% of its excess net capital.
Incorrect
Carrying or clearing member shall not make any unsecured advance or loan to a stockholder, partner, sole proprietor, employee or affiliate, more than 10% of its excess net capital.