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Question 1 of 10
1. Question
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), what will be the ex-interest date for all transactions in bonds or similar evidence of indebtedness which are traded “flat” if the record date falls on a business day?
Correct
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” should be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed.Incorrect
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” should be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed. -
Question 2 of 10
2. Question
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), what will be the ex-interest date for all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” if the record date falls on a day other than a business day?
Correct
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” shall be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed.Incorrect
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” shall be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed. -
Question 3 of 10
3. Question
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), what will be the ex-interest date for all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” if no record date has been fixed?
Correct
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” shall be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed.Incorrect
In the FINRA Rule 11150 (Transactions “Ex-Interest” in Bonds Which Are Dealt in “Flat”), all transactions, except “cash” transactions, in bonds or similar evidence of indebtedness which are traded “flat” shall be “ex-interest” as prescribed by the following provisions:-
(a) On the first business day preceding the record date if the record date falls on a business day.
(b) On the second business day preceding the record date if the record date falls on a day other than a business day.
(c) On the second business day preceding the date on which an interest payment is to be made if no record date has been fixed. -
Question 4 of 10
4. Question
In the FINRA Rule 11160 (“Ex” Liquidating Payments), which of the following type of transactions should be “ex” liquidating payments?
Correct
In the FINRA Rule 11160 (Sent by Each Party), all type of transactions except “cash” transactions in stocks, bonds or similar evidence of indebtedness shall be “ex” liquidating payments or payments on account of principal in accordance with the formula defined in the RINRA Rules 11140 and 11150.
Incorrect
In the FINRA Rule 11160 (Sent by Each Party), all type of transactions except “cash” transactions in stocks, bonds or similar evidence of indebtedness shall be “ex” liquidating payments or payments on account of principal in accordance with the formula defined in the RINRA Rules 11140 and 11150.
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Question 5 of 10
5. Question
In the FINRA Rule 11210, at what time each party to a transaction (other than a cash transaction) should send a uniform comparison or confirmation?
Correct
In the FINRA Rule 11210, each party to a transaction shall send a Uniform Comparison or Confirmation of the same on or before the first business day following the date of the transaction “other than a cash transaction”.
Incorrect
In the FINRA Rule 11210, each party to a transaction shall send a Uniform Comparison or Confirmation of the same on or before the first business day following the date of the transaction “other than a cash transaction”.
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Question 6 of 10
6. Question
In the FINRA Rule 11210, at what time comparisons or confirmations of cash transactions shall be exchanged?
Correct
In the FINRA Rule 11210, On the day of trade the comparisons or confirmations of cash transactions shall be exchanged.
Incorrect
In the FINRA Rule 11210, On the day of trade the comparisons or confirmations of cash transactions shall be exchanged.
-
Question 7 of 10
7. Question
Which of the following type of transactions are not applicable under the FINRA Rule 11210?
Correct
The FINRA Rule 11210 shall not be applicable to transactions which clear through the National Securities Clearing Corporation or other clearing organizations registered under the Exchange Act.
Incorrect
The FINRA Rule 11210 shall not be applicable to transactions which clear through the National Securities Clearing Corporation or other clearing organizations registered under the Exchange Act.
-
Question 8 of 10
8. Question
In the FINRA Rule 11210, at what time a party to transaction receives a comparison or confirmation or a signed DK, from the contra-member after sending a comparison or confirmation of a trade?
Correct
In the FINRA Rule 11210, a party to transaction receives a comparison or confirmation or a signed DK, from the contra-member by the close of one business day following the trade date of the transaction after sending a comparison or confirmation of a trade.
Incorrect
In the FINRA Rule 11210, a party to transaction receives a comparison or confirmation or a signed DK, from the contra-member by the close of one business day following the trade date of the transaction after sending a comparison or confirmation of a trade.
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Question 9 of 10
9. Question
In the FINRA Rule 11210, how much time shall have by the contra-member after the receipt of the “Don’t Know Notice” to either confirm or DK the transaction?
Correct
In the FINRA Rule 11210, after receipt of the “Don’t Know Notice”, the contra-member shall have two business days after the notice is received to either confirm or DK the transaction.
Incorrect
In the FINRA Rule 11210, after receipt of the “Don’t Know Notice”, the contra-member shall have two business days after the notice is received to either confirm or DK the transaction.
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Question 10 of 10
10. Question
In the FINRA Rule 11210, which copy of the “Don’t Know Notice” should be returned by the contra-member to the confirming member, which indicates clearly whether the contra-member desires to confirm or DK the transaction?
Correct
In the FINRA Rule 11210, if the contra-member desires to respond by messenger, it shall return to the confirming member the second and third copies of the notice which shall indicate clearly whether the contra-member desires to confirm or DK the transaction.
Incorrect
In the FINRA Rule 11210, if the contra-member desires to respond by messenger, it shall return to the confirming member the second and third copies of the notice which shall indicate clearly whether the contra-member desires to confirm or DK the transaction.