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Question 1 of 10
1. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), which of the following authority is authorized to review any over-the-counter transaction involving exchange-listed security arising out of or reported through a trade reporting system owned by FINRA and authorized by the Commission?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), an Executive Vice President of FINRA’s Market Regulation Department or Transparency Services Department, or any officer designated by such Executive Vice President (FINRA officer), may, on his or her own motion, review any over-the-counter transaction involving exchange-listed security arising out of or reported through a trade reporting system owned or operated by FINRA or FINRA Regulation and authorized by the Commission.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), an Executive Vice President of FINRA’s Market Regulation Department or Transparency Services Department, or any officer designated by such Executive Vice President (FINRA officer), may, on his or her own motion, review any over-the-counter transaction involving exchange-listed security arising out of or reported through a trade reporting system owned or operated by FINRA or FINRA Regulation and authorized by the Commission.
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Question 2 of 10
2. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), each party involved in the transaction should be notified by which of the following authority, if a FINRA officer acting pursuant to this Rule declares any transaction null and void?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), If a FINRA officer acting pursuant to this Rule declares any transaction null and void, each party involved in the transaction shall be notified as soon as practicable by FINRA.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), If a FINRA officer acting pursuant to this Rule declares any transaction null and void, each party involved in the transaction shall be notified as soon as practicable by FINRA.
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Question 3 of 10
3. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), what is the time interval for calculating the transaction’s % difference from the reference price in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), the time interval from 9:30 a.m. Eastern Time to 4:00 p.m. Eastern Time is used for calculating the transaction’s % difference from the reference price in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), the time interval from 9:30 a.m. Eastern Time to 4:00 p.m. Eastern Time is used for calculating the transaction’s % difference from the reference price in normal market hours numerical guidelines.
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Question 4 of 10
4. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than what should be the transaction’s % difference from the reference price that is calculated in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than the transaction’s % difference from the reference price should be 10% that is calculated in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than the transaction’s % difference from the reference price should be 10% that is calculated in normal market hours numerical guidelines.
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Question 5 of 10
5. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than what should be the transaction’s % difference from the reference price that is calculated in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than the transaction’s % difference from the reference price should be 5% that is calculated in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than the transaction’s % difference from the reference price should be 5% that is calculated in normal market hours numerical guidelines.
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Question 6 of 10
6. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $50.00 than what should be the transaction’s % difference from the reference price that is calculated in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $50.00 than the transaction’s % difference from the reference price should be 3% that is calculated in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $50.00 than the transaction’s % difference from the reference price should be 3% that is calculated in normal market hours numerical guidelines.
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Question 7 of 10
7. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving five or more, but less than twenty, securities whose executions occurred within a period of five minutes or less than what should be the transaction’s % difference from the reference price that is calculated in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving five or more, but less than twenty, securities whose executions occurred within a period of five minutes or less than the transaction’s % difference from the reference price should be 10% that is calculated in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving five or more, but less than twenty, securities whose executions occurred within a period of five minutes or less than the transaction’s % difference from the reference price should be 10% that is calculated in normal market hours numerical guidelines.
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Question 8 of 10
8. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving twenty or more securities whose executions occurred within a period of five minutes or less than what should be the transaction’s % difference from the reference price that is calculated in normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving twenty or more securities whose executions occurred within a period of five minutes or less than the transaction’s % difference from the reference price should be 30% that is calculated in normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price for any events involving twenty or more securities whose executions occurred within a period of five minutes or less than the transaction’s % difference from the reference price should be 30% that is calculated in normal market hours numerical guidelines.
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Question 9 of 10
9. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than what should be the transaction’s % difference from the reference price that is calculated in outside normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than the transaction’s % difference from the reference price should be 20% that is calculated in outside normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $0.00 up to and including $25.00 than the transaction’s % difference from the reference price should be 20% that is calculated in outside normal market hours numerical guidelines.
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Question 10 of 10
10. Question
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than what should be the transaction’s % difference from the reference price that is calculated in outside normal market hours numerical guidelines?
Correct
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than the transaction’s % difference from the reference price should be 10% that is calculated in outside normal market hours numerical guidelines.
Incorrect
In the FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities), if the reference price is greater than $25.00 up to and including $50.00 than the transaction’s % difference from the reference price should be 10% that is calculated in outside normal market hours numerical guidelines.