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Question 1 of 10
1. Question
Which of the following may consider the person is has exempt account?
I. Net worth of at least $45 million
II. Net worth of at least $55 million
III. Financial assets of at least $40 million
IV. Financial assets of at least $55 millionCorrect
According to FINRA rule 4210, the following may consider the person is has exempt account:
(a) Net worth of at least $45 million
(b) Net worth of at least $55 millionIncorrect
According to FINRA rule 4210, the following may consider the person is has exempt account:
(a) Net worth of at least $45 million
(b) Net worth of at least $55 million -
Question 2 of 10
2. Question
Which of the following is exempt account mean?
I. A member, non-member broker-dealer registered as a broker or dealer under the Exchange Act, a “designated account
II. Any person that has lot of money in his bank
III. A member, non-member broker-dealer is not registered as a broker or dealer under the Exchange Act, a “designated account
IV. Any person that has debt in his bank accountCorrect
According to FINRA rule 4210, the following is the meaning of exempt account:
(a) A member, non-member broker-dealer registered as a broker or dealer under the Exchange Act, a “designated account
(b) A member, non-member broker-dealer is not registered as a broker or dealer under the Exchange Act, a “designated accountIncorrect
According to FINRA rule 4210, the following is the meaning of exempt account:
(a) A member, non-member broker-dealer registered as a broker or dealer under the Exchange Act, a “designated account
(b) A member, non-member broker-dealer is not registered as a broker or dealer under the Exchange Act, a “designated account -
Question 3 of 10
3. Question
What type of option issue states 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?
Correct
According to FINRA rule 4210, 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.While 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, 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, 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.While 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, 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 4 of 10
4. Question
Which of the following requirements for any private pass-through securities (not guaranteed by any agency of the U.S. government) meeting?
I. Current reports relating to the issue have been filed with the SEC
II. At the time of the credit extension, the creditor has a reasonable basis for believing that mortgage interest, principal payments, and other distributions are being passed through as required and that the servicing agent is meeting its material obligations under the terms of the offering
III. At the time of the extension of credit the issue, the issuer or guarantor
IV. The amount of any credit balance and subtracting the current market value of all securities “short” and the amount of any debit balance.Correct
According to FINRA rule 4210 the following are the requirements for any private pass-through securities (not guaranteed by any agency of the U.S. government) meeting:
(a) Current reports relating to the issue have been filed with the SEC
(b) At the time of the credit extension, the creditor has a reasonable basis for believing that mortgage interest, principal payments, and other distributions are being passed through as required and that the servicing agent is meeting its material obligations under the terms of the offeringIncorrect
According to FINRA rule 4210 the following are the requirements for any private pass-through securities (not guaranteed by any agency of the U.S. government) meeting:
(a) Current reports relating to the issue have been filed with the SEC
(b) At the time of the credit extension, the creditor has a reasonable basis for believing that mortgage interest, principal payments, and other distributions are being passed through as required and that the servicing agent is meeting its material obligations under the terms of the offering -
Question 5 of 10
5. Question
Which of the following must be maintained in all accounts of customers and for cash accounts subject to other provisions of this Rule?
I. 25 percent of the current market value of all margin securities, as defined in Section 220.2 of Regulation T, except for security futures contracts, “long” in the account
II. $2.50 per share or 100 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at less than $5.00 per share
III. $5.00 per share or 30 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at $5.00 per share or above
IV. 5 percent of the principal amount or 30 percent of the current market value, whichever amount is greater, of each bond “short” in the accountCorrect
According to FINRA rule 4210, the following must be maintained in all accounts of customers and for cash accounts subject to other provisions of this Rule:
(a) 25 percent of the current market value of all margin securities, as defined in Section 220.2 of Regulation T, except for security futures contracts, “long” in the account
(b) $2.50 per share or 100 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at less than $5.00 per share
(c) $5.00 per share or 30 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at $5.00 per share or above
(d) 5 percent of the principal amount or 30 percent of the current market value, whichever amount is greater, of each bond “short” in the accountIncorrect
According to FINRA rule 4210, the following must be maintained in all accounts of customers and for cash accounts subject to other provisions of this Rule:
(a) 25 percent of the current market value of all margin securities, as defined in Section 220.2 of Regulation T, except for security futures contracts, “long” in the account
(b) $2.50 per share or 100 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at less than $5.00 per share
(c) $5.00 per share or 30 percent of the current market value, whichever amount is greater, of each stock “short” in the account selling at $5.00 per share or above
(d) 5 percent of the principal amount or 30 percent of the current market value, whichever amount is greater, of each bond “short” in the account -
Question 6 of 10
6. Question
What is non-equity securities mean?
Correct
According FINRA rule 4210, the non-equity securities is any securities other than equity securities as defined in Section 3(a)(11) of the Exchange Act. While the term “mortgage related securities” means securities falling within the definition in Section 3(a)(41) of the Exchange Act, the term “major foreign sovereign debt” means any debt securities issued or guaranteed by the government of a foreign country or a supranational entity and the term “major foreign sovereign debt” means any debt securities issued or guaranteed by the government of a foreign country or a supranational entity.
Incorrect
According FINRA rule 4210, the non-equity securities is any securities other than equity securities as defined in Section 3(a)(11) of the Exchange Act. While the term “mortgage related securities” means securities falling within the definition in Section 3(a)(41) of the Exchange Act, the term “major foreign sovereign debt” means any debt securities issued or guaranteed by the government of a foreign country or a supranational entity and the term “major foreign sovereign debt” means any debt securities issued or guaranteed by the government of a foreign country or a supranational entity.
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Question 7 of 10
7. Question
How much is the minimum withdrawal equity in the account in Customer Margin Requirements ?
Correct
According to FINRA rule 4210, the minimum withdrawal equity in the account in Customer Margin Requirements is $2000.
Incorrect
According to FINRA rule 4210, the minimum withdrawal equity in the account in Customer Margin Requirements is $2000.
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Question 8 of 10
8. Question
What percent of margin to be shall be maintained the market value of such obligations in Three years but less than five years to maturity?
Correct
According to FINRA rule 4210, 3 percent shall be maintained the market value of such obligations in Three years but less than five years to maturity.
Incorrect
According to FINRA rule 4210, 3 percent shall be maintained the market value of such obligations in Three years but less than five years to maturity.
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Question 9 of 10
9. Question
What percent of margin to be shall be maintained the market value of such obligations in Twenty years or more to maturity?
Correct
According to FINRA rule 4210, 6 percent shall be maintained the market value of such obligations in Twenty years or more to maturity.
Incorrect
According to FINRA rule 4210, 6 percent shall be maintained the market value of such obligations in Twenty years or more to maturity.
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Question 10 of 10
10. Question
Which of the following is considered Percent of Outstanding Shares?
I. Up to 10 percent
II. Over 10 percent and under 15 percent
III. 15 percent and under 20 percent
IV. 20 percent and under 25 percentCorrect
According to FINRA rule 4210, there 6 Percent of Outstanding Shares and the following are including :
(a) Up to 10 percent
(d) Over 10 percent and under 15 percent
(c) 15 percent and under 20 percent
(d) 20 percent and under 25 percentIncorrect
According to FINRA rule 4210, there 6 Percent of Outstanding Shares and the following are including :
(a) Up to 10 percent
(d) Over 10 percent and under 15 percent
(c) 15 percent and under 20 percent
(d) 20 percent and under 25 percent