Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Certdemhy 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
Anti-Money Laundering Compliance Program which of the following must require at least a minimum of?
I. Establish and implement policies, procedures, and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act and the implementing regulations thereunder
II. Establish and implement policies, procedures, and internal controls reasonably designed to achieve compliance with the Anti Money Program
III. Provide ongoing training for appropriate personnel
IV. Provide training for not appropriate personnelCorrect
According to FINRA rule 3310 Anti-Money Laundering Compliance Program required at least a minimum of :
(a) Establish and implement policies, procedures, and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act
(b) The implementing regulations thereunder and Provide ongoing training for appropriate personnelIncorrect
According to FINRA rule 3310 Anti-Money Laundering Compliance Program required at least a minimum of :
(a) Establish and implement policies, procedures, and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act
(b) The implementing regulations thereunder and Provide ongoing training for appropriate personnel -
Question 2 of 10
2. Question
Which of the following are the options communications consist of?
I. Correspondence.
II. Institutional Communication.
III. Retail Communication.
IV. Option as defined in Rule 2360(a).Correct
Under rule 2220 the “Options communications” consist of
(a). “Correspondence.” Any “Correspondence” as defined in Rule 2210(a)(2) concerning options
(b). “Institutional Communication.” Any “Institutional Communication” as defined in Rule 2210(a)Incorrect
Under rule 2220 the “Options communications” consist of
(a). “Correspondence.” Any “Correspondence” as defined in Rule 2210(a)(2) concerning options
(b). “Institutional Communication.” Any “Institutional Communication” as defined in Rule 2210(a) -
Question 3 of 10
3. Question
What is It Clearing Member Control?
Correct
Under FINRA rule 2360 the Clearing Member Control is a member of FINRA who was admitted to the Options Clearing Corporation in compliance with the rules of The Options Clearing Corporation. It is not an individual or entity that has the ability to direct the activity of the Company, a guarantor and payment agent for all trades concluded at the Spot Market and steps between the transactions of ECC and someone or something that is part of a group.
Incorrect
Under FINRA rule 2360 the Clearing Member Control is a member of FINRA who was admitted to the Options Clearing Corporation in compliance with the rules of The Options Clearing Corporation. It is not an individual or entity that has the ability to direct the activity of the Company, a guarantor and payment agent for all trades concluded at the Spot Market and steps between the transactions of ECC and someone or something that is part of a group.
-
Question 4 of 10
4. Question
Under rule 2220 the options communications regarding standardized options which of the following is true in exempted under Securities Act Rule 238 used prior to options disclosure document delivery:
I. Must be limited to general descriptions of the options being discussed. The text may also contain a brief description of options, including a statement that identifies registered clearing agencies for options and a brief description of the general attributes and method of operation of the exchanges on which such options are traded, including a discussion of how an option is priced
II. Must contain contact information for obtaining a copy of the options disclosure document
III. May include any statement required by any state law or administrative authority
IV. Must not contain recommendations or past or projected performance figures, including annualized rates of return, or names of specific securitiesCorrect
Under rule 2220 the options communications regarding standardized options which of the following is true in exempted under Securities Act Rule 238 used prior to options disclosure document delivery:
(a). Must be limited to general descriptions of the options being discussed. The text may also contain a brief description of options, including a statement that identifies registered clearing agencies for options and a brief description of the general attributes and method of operation of the exchanges on which such options are traded, including a discussion of how an option is priced
(b). Must contain contact information for obtaining a copy of the options disclosure document
(c). May include any statement required by any state law or administrative authority
(d). Must not contain recommendations or past or projected performance figures, including annualized rates of return, or names of specific securitiesIncorrect
Under rule 2220 the options communications regarding standardized options which of the following is true in exempted under Securities Act Rule 238 used prior to options disclosure document delivery:
(a). Must be limited to general descriptions of the options being discussed. The text may also contain a brief description of options, including a statement that identifies registered clearing agencies for options and a brief description of the general attributes and method of operation of the exchanges on which such options are traded, including a discussion of how an option is priced
(b). Must contain contact information for obtaining a copy of the options disclosure document
(c). May include any statement required by any state law or administrative authority
(d). Must not contain recommendations or past or projected performance figures, including annualized rates of return, or names of specific securities -
Question 5 of 10
5. Question
Which of the following factors does FINRA will also consider in determining if the aggregation of accounts is required:
I. Similar patterns of trading activity among separate entities;
II. The sharing of kindred business purposes and interests;
III. Whether there is common supervision of the entities which extends beyond assuring adherence to each entity’s investment objectives and/or restrictions;
IV. The degree of contact and communication between directors and/or managers of separate accounts.Correct
Under FINRA rule 2360 the following factors do FINRA will required in determining if the aggregation of accounts
(a). Similar patterns of trading activity among separate entities;
(b). The sharing of kindred business purposes and interests;
(c). Whether there is common supervision of the entities which extends beyond assuring adherence to each entity’s investment objectives and/or restrictions;
(d). The degree of contact and communication between directors and/or managers of separate accounts.Incorrect
Under FINRA rule 2360 the following factors do FINRA will required in determining if the aggregation of accounts
(a). Similar patterns of trading activity among separate entities;
(b). The sharing of kindred business purposes and interests;
(c). Whether there is common supervision of the entities which extends beyond assuring adherence to each entity’s investment objectives and/or restrictions;
(d). The degree of contact and communication between directors and/or managers of separate accounts. -
Question 6 of 10
6. Question
What is Conventional Index Option?
Correct
Options Clearing Company
Under FINRA rule 2360 the Conventional Index Option is an option contract which the Options Clearing Company has not provided or subject to issue. An annuity contract is between you and an insurance company in which the company promises to make periodic payments to you, Clearing corporation is an organization associated with an exchange to handle the confirmation, settlement, and delivery of transactions and Company an association of persons operating a business.Incorrect
Options Clearing Company
Under FINRA rule 2360 the Conventional Index Option is an option contract which the Options Clearing Company has not provided or subject to issue. An annuity contract is between you and an insurance company in which the company promises to make periodic payments to you, Clearing corporation is an organization associated with an exchange to handle the confirmation, settlement, and delivery of transactions and Company an association of persons operating a business. -
Question 7 of 10
7. Question
The following are the purpose of effecting new securities transactions and commitments, the customer shall be required to deposit margin in cash and/or securities in the account. Which shall be at least the greater of?
I. the amount specified in Regulation T, or Rules 400 through 406 of SEC Customer Margin Requirements for Security Futures, or Rules 41.42 through 41.49 under the Commodity Exchange Act (“CEA”)
II. The amount specified in paragraph (c) of this Rule
III. Such greater amount as FINRA may from time to time require for specific securities
IV. Equity of at least $2,000 except that cash need not be deposited in excess of the cost of any security purchased (this equity and cost of purchase provision shall not apply to “when distributed” securities in a cash account)Correct
The following are the purpose of effecting new securities transactions and commitments, the customer shall be required to deposit margin in cash and/or securities in the account which shall be at least the greater of:
(a). The amount specified in Regulation T, or Rules 400 through 406 of SEC Customer Margin Requirements for Security Futures, or Rules 41.42 through 41.49 under the Commodity Exchange Act (“CEA”)
(b). The amount specified in paragraph (c) of this Rule
(c). Such greater amount as FINRA may from time to time require for specific securities
(d). quity of at least $2,000 except that cash need not be deposited in excess of the cost of any security purchased (this equity and cost of purchase provision shall not apply to “when distributed” securities in a cash account)Incorrect
The following are the purpose of effecting new securities transactions and commitments, the customer shall be required to deposit margin in cash and/or securities in the account which shall be at least the greater of:
(a). The amount specified in Regulation T, or Rules 400 through 406 of SEC Customer Margin Requirements for Security Futures, or Rules 41.42 through 41.49 under the Commodity Exchange Act (“CEA”)
(b). The amount specified in paragraph (c) of this Rule
(c). Such greater amount as FINRA may from time to time require for specific securities
(d). quity of at least $2,000 except that cash need not be deposited in excess of the cost of any security purchased (this equity and cost of purchase provision shall not apply to “when distributed” securities in a cash account) -
Question 8 of 10
8. Question
The following are the Essential Facts for purposes of Rule 2090:
I. Effectively service the customer’s account
II. Comply with applicable laws, regulations, and rules.
III.Act in accordance with the bank account of the customer
IV.Understand the authority of each person acting on behalf of the customerCorrect
The following are the Essential Facts for purposes of Rule 2090:
(a). Effectively service the customer’s account
(b). Comply with applicable laws, regulations, and rules.
(c). Understand the authority of each person acting on behalf of the customerIncorrect
The following are the Essential Facts for purposes of Rule 2090:
(a). Effectively service the customer’s account
(b). Comply with applicable laws, regulations, and rules.
(c). Understand the authority of each person acting on behalf of the customer -
Question 9 of 10
9. Question
Which of the following is respect to options customers who are natural persons, members shall seek to obtain the following minimum information :
I. Investment objectives (e.g., the safety of principal, income, growth, trading profits, speculation)
II. Estimated annual income from all sources
III. Marital status; the number of dependents
IV. Written police reportCorrect
Under FINRA rule 2360 the options customers require natural persons, members shall seek to obtain the following information at a minimum (information shall be obtained for all participants in a joint account):
(a). Investment objectives (e.g., the safety of principal, income, growth, trading profits, speculation)
(b). Estimated annual income from all sources
(c). Marital status; the number of dependentsIncorrect
Under FINRA rule 2360 the options customers require natural persons, members shall seek to obtain the following information at a minimum (information shall be obtained for all participants in a joint account):
(a). Investment objectives (e.g., the safety of principal, income, growth, trading profits, speculation)
(b). Estimated annual income from all sources
(c). Marital status; the number of dependents -
Question 10 of 10
10. Question
Which of the following are the central file shall include does every member shall maintain and keep current a separate central log, index or another file for all options-related complaints, through which these complaints can easily be identified and retrieved in addition to the requirements of Rules 2268, 5340 and Rule 4510 Series?
I. Identification of the complainant
II. Date complaint was received
III. Identification of registered representative servicing the account
IV. A general description of the matter complainedCorrect
In addition to the requirements of Rules 2268, 5340 and Rule 4510 Series, the following are the central file shall include does every member shall maintain and keep current a separate central log, index or another file for all options-related complaints, through which these complaints can easily be identified and retrieved.
(a). Identification of the complainant
(c). Identification of registered representative servicing the account
(d). A general description of the matter complainedIncorrect
In addition to the requirements of Rules 2268, 5340 and Rule 4510 Series, the following are the central file shall include does every member shall maintain and keep current a separate central log, index or another file for all options-related complaints, through which these complaints can easily be identified and retrieved.
(a). Identification of the complainant
(c). Identification of registered representative servicing the account
(d). A general description of the matter complained