Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
certdemy 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
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), within how many days prior written notice shall be given to FINRA whenever any member guarantees, endorses or assumes, directly or indirectly, the obligations or liabilities with another person?
Correct
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), The written notice shall be given to FINRA at least 10 business days prior whenever any member guarantees, endorses or assumes, directly or indirectly, the obligations or liabilities with another person.
Incorrect
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), The written notice shall be given to FINRA at least 10 business days prior whenever any member guarantees, endorses or assumes, directly or indirectly, the obligations or liabilities with another person.
-
Question 2 of 10
2. Question
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), which of the following conditions a prior written notice shall be given to FINRA at least 10 business days?
Correct
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), The prior written notice shall be given to FINRA at least 10 business days prior whenever any member guarantees, endorses or assumes, directly or indirectly, the obligations or liabilities with another person.
Incorrect
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), The prior written notice shall be given to FINRA at least 10 business days prior whenever any member guarantees, endorses or assumes, directly or indirectly, the obligations or liabilities with another person.
-
Question 3 of 10
3. Question
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), at what time a member should required to provide FINRA with information with respect to the arrangement, relationship and dealings with a person?
Correct
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), A member may at any time be required to provide FINRA with information with respect to the arrangement, relationship and dealings with a person related to member’s guarantees endorse or assumes, directly or indirectly, the obligations or liabilities of another person.
Incorrect
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), A member may at any time be required to provide FINRA with information with respect to the arrangement, relationship and dealings with a person related to member’s guarantees endorse or assumes, directly or indirectly, the obligations or liabilities of another person.
-
Question 4 of 10
4. Question
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), within how many days each member shall advise FINRA in writing, of any guarantees, endorsements, assumptions of obligations/liabilities, or flow through capital benefits, in effect as of August 1, 2011, not having otherwise been reported, in writing, to the appropriate Regulatory Coordinator?
Correct
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), within 30 days of August 1, 2011, each member shall advise FINRA, in writing, of any guarantees, endorsements, assumptions of obligations/liabilities, or flow through capital benefits, in effect as of August 1, 2011, not having otherwise been reported, in writing, to the appropriate Regulatory Coordinator.
Incorrect
In the FINRA Rule 4150 (Guarantees by, or Flow-through Benefits for, Members), within 30 days of August 1, 2011, each member shall advise FINRA, in writing, of any guarantees, endorsements, assumptions of obligations/liabilities, or flow through capital benefits, in effect as of August 1, 2011, not having otherwise been reported, in writing, to the appropriate Regulatory Coordinator.
-
Question 5 of 10
5. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), which of the following authority each carrying or clearing member shall submit such financial and operational information regarding the member or any of its correspondents as FINRA deems essential for the protection of investors and the public interest at such designated time?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), Each carrying or clearing member shall submit to FINRA, or its designated agent, at such times as may be designated, or on an ongoing basis, in such form and within such time period as may be prescribed, such financial and operational information regarding the member or any of its correspondents as FINRA deems essential for the protection of investors and the public interest.
Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), Each carrying or clearing member shall submit to FINRA, or its designated agent, at such times as may be designated, or on an ongoing basis, in such form and within such time period as may be prescribed, such financial and operational information regarding the member or any of its correspondents as FINRA deems essential for the protection of investors and the public interest.
-
Question 6 of 10
6. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), which of the following authority should be notified in writing by the each carrying or clearing member, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
-
Question 7 of 10
7. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), within how many hours after the member’s tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report, each carrying or clearing member shall notify FINRA in writing?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
-
Question 8 of 10
8. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member should notify FINRA in writing no more than 48 hours after its tentative net capital declined how much percentage from the amount reported in its most recent FOCUS Report?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each carrying or clearing member shall notify FINRA in writing, no more than 48 hours after its tentative net capital as computed pursuant to SEA Rule 15c3-1 has declined 20 percent or more from the amount reported in its most recent FOCUS Report or if later, the most recent such notification filed with FINRA.
-
Question 9 of 10
9. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), what is the time limit for calculating the total of all debit balances in securities margin accounts that members carrying margin accounts for customers are required to submit, on a settlement date basis?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), members carrying margin accounts for customers are required to submit, on a settlement date basis, the information related to a total of all debit balances in securities margin accounts as of the last business day of the month. If a member has no information to submit, a report should be filed with a notation thereon to that effect. Reports are due as promptly as possible after the last business day of the month but in no event later than the sixth business day of the following month.
Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), members carrying margin accounts for customers are required to submit, on a settlement date basis, the information related to a total of all debit balances in securities margin accounts as of the last business day of the month. If a member has no information to submit, a report should be filed with a notation thereon to that effect. Reports are due as promptly as possible after the last business day of the month but in no event later than the sixth business day of the following month.
-
Question 10 of 10
10. Question
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), which of the following type of customer information should be included in the submission of reports by each member carrying margin accounts for customers?
Correct
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each member carrying margin accounts for customers shall submit reports containing the following customer information:-
(a) Total of all debit balances in securities margin accounts.
(b) Total of all free credit balances in all cash accounts and all securities margin accounts.Incorrect
In the FINRA Rule 4521 (Notifications, Questionnaires and Reports), each member carrying margin accounts for customers shall submit reports containing the following customer information:-
(a) Total of all debit balances in securities margin accounts.
(b) Total of all free credit balances in all cash accounts and all securities margin accounts.