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Question 1 of 10
1. Question
Which of the following is not included in the securities that are held or carried and to or for whom a member extends, arranges, or maintains any credit?
I. A broker or dealer from whom security has been purchased or to whom security has been sold for the account of the member or its customers
II. An “exempted borrower” as defined by Regulation T of the Board of Governors of the Federal Reserve System
III. A broker or dealer from whom security has not been purchased or to whom security has been sold for the account of the member or its customers
IV. A ” borrower” as defined by Regulation T of the Board of Governors of the Federal Reserve SystemCorrect
According to FINRA rule 4210, The following are not included in the securities that are held or carried and to or for whom a member extends, arranges or maintains any credit:
(a) A broker or dealer from whom security has been purchased or to whom security has been sold for the account of the member or its customers
(b) An “exempted borrower” as defined by Regulation T of the Board of Governors of the Federal Reserve SystemIncorrect
According to FINRA rule 4210, The following are not included in the securities that are held or carried and to or for whom a member extends, arranges or maintains any credit:
(a) A broker or dealer from whom security has been purchased or to whom security has been sold for the account of the member or its customers
(b) An “exempted borrower” as defined by Regulation T of the Board of Governors of the Federal Reserve System -
Question 2 of 10
2. Question
What is equity mean in terms of margin requirement?
Correct
According to FINRA rule 4210 the equity mean in terms of margin requirement is the customer’s ownership interest in the account, computed by adding the current market value of all securities. Not dividing, multiplying, subtracting the current market value of all securities.
Incorrect
According to FINRA rule 4210 the equity mean in terms of margin requirement is the customer’s ownership interest in the account, computed by adding the current market value of all securities. Not dividing, multiplying, subtracting the current market value of all securities.
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Question 3 of 10
3. Question
Which of the following is “listed non-equity securities” means in any non-equity securities?
I. Are listed on a national securities exchange
II. Have unlisted trading privileges on a national securities exchange
III. Are not listed on a national securities exchange
IV. Have listed trading privileges on a national securities exchangeCorrect
According to FINRA rule 4210 the following are “listed non-equity securities” mean:
(a) Are listed on a national securities exchange
(b) Have unlisted trading privileges on a national securities exchangeIncorrect
According to FINRA rule 4210 the following are “listed non-equity securities” mean:
(a) Are listed on a national securities exchange
(b) Have unlisted trading privileges on a national securities exchange -
Question 4 of 10
4. Question
What type of option issue states any excess of the product of the index group value and the applicable multiplier over the aggregate exercise price of the option?
Correct
According to FINRA rule 4210, Index stock group options is any excess of the product of the index group value and the applicable multiplier over the aggregate exercise price of the option. While stock option is any excess of the current market value of the equivalent number of shares of the underlying security over the aggregate exercise price of the option., U.S. Government mortgage related or corporate debt securities options is a ny excess of the current value of the underlying principal amount over the aggregate exercise price of the option and Broad index stock group the product of the index group value and the applicable index multiplier.
Incorrect
According to FINRA rule 4210, Index stock group options is any excess of the product of the index group value and the applicable multiplier over the aggregate exercise price of the option. While stock option is any excess of the current market value of the equivalent number of shares of the underlying security over the aggregate exercise price of the option., U.S. Government mortgage related or corporate debt securities options is a ny excess of the current value of the underlying principal amount over the aggregate exercise price of the option and Broad index stock group the product of the index group value and the applicable index multiplier.
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Question 5 of 10
5. Question
What is major foreign sovereign debt mean?
Correct
According FINRA rule 4210, major foreign sovereign debt is Any debt securities issued or guaranteed by the government of a foreign country or a supranational entity. While investment grade debt securities is Any debt securities (including those issued by the government of a foreign country, its provinces, states or cities, or a supranational entity) and highly rated foreign sovereign debt securities is any debt securities (including major foreign sovereign debt securities) issued or guaranteed by the government of a foreign country.
Incorrect
According FINRA rule 4210, major foreign sovereign debt is Any debt securities issued or guaranteed by the government of a foreign country or a supranational entity. While investment grade debt securities is Any debt securities (including those issued by the government of a foreign country, its provinces, states or cities, or a supranational entity) and highly rated foreign sovereign debt securities is any debt securities (including major foreign sovereign debt securities) issued or guaranteed by the government of a foreign country.
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Question 6 of 10
6. Question
Which of the following is the procedure to establish by a member in the additional margin?
I. Review limits and types of credit extended to all customers
II. Formulate their own margin requirements
III Review the need for instituting higher margin requirements, mark-to-markets, and collateral deposits than is required by this Rule for individual securities or customer accounts
IV. Review the background profile of the customers and not include the types of credit.Correct
According to FINRA rule 4210, the following is the procedure to establish by a member in the additional margin?
(a) Review limits and types of credit extended to all customers
(b) Formulate their own margin requirements
(c) Review the need for instituting higher margin requirements, mark-to-markets, and collateral deposits than is required by this Rule for individual securities or customer accountsIncorrect
According to FINRA rule 4210, the following is the procedure to establish by a member in the additional margin?
(a) Review limits and types of credit extended to all customers
(b) Formulate their own margin requirements
(c) Review the need for instituting higher margin requirements, mark-to-markets, and collateral deposits than is required by this Rule for individual securities or customer accounts -
Question 7 of 10
7. Question
What are non-equity securities mean?
Correct
According to FINRA rule 4210, non-equity securities is any securities other than equity securities as defined in Section 3(a)(11) of the Exchange Act. While the term equity is any variation settlement received or paid on a security futures contract shall be considered a credit or debit to the account for purposes of equity, the designated account is an insurance company (as defined in Section 2(a)(17) of the Investment Company Act) and the term “mortgage-related securities” means securities falling within the definition in Section 3(a)(41) of the Exchange Act.
Incorrect
According to FINRA rule 4210, non-equity securities is any securities other than equity securities as defined in Section 3(a)(11) of the Exchange Act. While the term equity is any variation settlement received or paid on a security futures contract shall be considered a credit or debit to the account for purposes of equity, the designated account is an insurance company (as defined in Section 2(a)(17) of the Investment Company Act) and the term “mortgage-related securities” means securities falling within the definition in Section 3(a)(41) of the Exchange Act.
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Question 8 of 10
8. Question
Which of the following standing in Special Provisions?
I. A member may, at its discretion, permit the use of accrued interest as an offset to the maintenance margin required to be maintained
II. FINRA, upon written application, may permit lower margin requirements on a case-by-case basis
III. A non-member may, at its discretion, permit the use of accrued interest as an offset to the maintenance margin required to be maintained
IV. FINRA, upon written application, may permit higher margin requirements on a case-by-case basisCorrect
According to FINRA rule 4210, the following standing in Special Provision:
(a) A member may, at its discretion, permit the use of accrued interest as an offset to the maintenance margin required to be maintained
(b) FINRA, upon written application, may permit lower margin requirements on a case-by-case basisIncorrect
According to FINRA rule 4210, the following standing in Special Provision:
(a) A member may, at its discretion, permit the use of accrued interest as an offset to the maintenance margin required to be maintained
(b) FINRA, upon written application, may permit lower margin requirements on a case-by-case basis -
Question 9 of 10
9. Question
Who can maintain an equity with respect to such interest pursuant to the margin provisions?
I. Members
II. Manager
III. Stockholder
IV. PartnerCorrect
According to FINRA Rule 4210, those who can maintain an equity with respect to such interest pursuant to the margin provisions are the following
(a) Members
(b) Stockholder
(c) PartnerIncorrect
According to FINRA Rule 4210, those who can maintain an equity with respect to such interest pursuant to the margin provisions are the following
(a) Members
(b) Stockholder
(c) Partner -
Question 10 of 10
10. Question
What percent of margin to be shall be maintained the market value of such obligations in Five years but less than ten years to maturity?
Correct
According to FINRA rule 4210, 4 percent shall be maintained the market value of such obligations in Five years but less than ten years to maturity.
Incorrect
According to FINRA rule 4210, 4 percent shall be maintained the market value of such obligations in Five years but less than ten years to maturity.