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Question 1 of 10
1. Question
What do you call an individual appointed by the Exchange who is granted certain duties and authorities under the Rules with respect to trading issues and market actions?
Correct
According to CBOE Rule 1.1 Definition
Floor Official
The term “Floor Official” means an individual appointed by the Exchange who is granted certain duties and authorities under the Rules with respect to trading issues and market actions.
Floor Leader, Manager and Officer are not in the rule.Incorrect
According to CBOE Rule 1.1 Definition
Floor Official
The term “Floor Official” means an individual appointed by the Exchange who is granted certain duties and authorities under the Rules with respect to trading issues and market actions.
Floor Leader, Manager and Officer are not in the rule. -
Question 2 of 10
2. Question
What term means that a Trading Permit Holder or associated person is not delinquent respecting Exchange fees or other charges and is not suspended or barred from being a Trading Permit Holder or from being associated with a Trading Permit Holder?
Correct
According to CBOE Rule 1.1 Definition
Good Standing
The term “good standing” means that a Trading Permit Holder or associated person is not delinquent respecting Exchange fees or other charges and is not suspended or barred from being a Trading Permit Holder or from being associated with a Trading Permit Holder.
Standard Option, Good Quality and Limited Charges are not in the rule.Incorrect
According to CBOE Rule 1.1 Definition
Good Standing
The term “good standing” means that a Trading Permit Holder or associated person is not delinquent respecting Exchange fees or other charges and is not suspended or barred from being a Trading Permit Holder or from being associated with a Trading Permit Holder.
Standard Option, Good Quality and Limited Charges are not in the rule. -
Question 3 of 10
3. Question
What is the meaning of the term “market open”?
Correct
According to CBOE Rule 1.1 Definition
Market Open
The term “market open” means the time the Exchange specifies for the start of a trading session on the Exchange on that trading day.Expiration Date
Unless separately defined elsewhere in the Rules, the term “expiration date” means the third Friday of the expiration month of an option contract, or if t Friday is a day on which the exchange on which such option is listed is not open for business, the preceding day on which such exchange is open for business.Market Close
The term “market close” means the time the Exchange specifies for the end of a trading session on the Exchange on that trading day.Global Trading Hours and GTH
The terms “Global Trading Hours” and “GTH” mean the trading session consisting of the hours outside of Regular Trading Hours during which transactions in options may be effected on the ExchangeIncorrect
According to CBOE Rule 1.1 Definition
Market Open
The term “market open” means the time the Exchange specifies for the start of a trading session on the Exchange on that trading day.Expiration Date
Unless separately defined elsewhere in the Rules, the term “expiration date” means the third Friday of the expiration month of an option contract, or if t Friday is a day on which the exchange on which such option is listed is not open for business, the preceding day on which such exchange is open for business.Market Close
The term “market close” means the time the Exchange specifies for the end of a trading session on the Exchange on that trading day.Global Trading Hours and GTH
The terms “Global Trading Hours” and “GTH” mean the trading session consisting of the hours outside of Regular Trading Hours during which transactions in options may be effected on the Exchange -
Question 4 of 10
4. Question
What information should be included on the central file?
I. Identification of complainant
II. Date complaint was received
III. Identification of Registered Representative servicing the account
IV. A general description of the matter complained ofCorrect
According to CBOE Rule 9.17. Customer Complaints
The central file shall be located at the principal place of business of the TPH organization or such other principal office as shall be designated by the TPH organization. At a minimum, the central file shall include:
(a) Identification of complainant,
(b) Date complaint was received,
(c) Identification of Registered Representative servicing the account,
(d) A general description of the matter complained of.Incorrect
According to CBOE Rule 9.17. Customer Complaints
The central file shall be located at the principal place of business of the TPH organization or such other principal office as shall be designated by the TPH organization. At a minimum, the central file shall include:
(a) Identification of complainant,
(b) Date complaint was received,
(c) Identification of Registered Representative servicing the account,
(d) A general description of the matter complained of. -
Question 5 of 10
5. Question
What is the Exchange operations staff authorized to make certain trading determinations on behalf of the Exchange?
Correct
According to CBOE Rule 1.1 Definition
Trade Desk
The term “Trade Desk” means the Exchange operations staff authorized to make certain trading determinations on behalf of the Exchange.Trading, Good Quality and Limited Charges are not in the rule.
Incorrect
According to CBOE Rule 1.1 Definition
Trade Desk
The term “Trade Desk” means the Exchange operations staff authorized to make certain trading determinations on behalf of the Exchange.Trading, Good Quality and Limited Charges are not in the rule.
-
Question 6 of 10
6. Question
What following information which no Trading Permit Holder or associated person shall make an outbound telephone call to any person without disclosing truthfully, promptly and in a clear and conspicuous manner to the called person?
I. The identity of the caller and the TPH organization.
II. The telephone number or address at which the caller may be contacted.
III. The Trading Permit Holder has received that person’s express prior consent.
IV. That the purpose of the call is to solicit the purchase of securities or related services.Correct
According to CBOE Rule 9.18. Telemarketing (b) Caller Disclosures. No Trading Permit Holder or associated person shall make an outbound telephone call to any person without disclosing truthfully, promptly and in a clear and conspicuous
manner to the called person the following information:
(a) The identity of the caller and the TPH organization;
(b) The telephone number or address at which the caller may be contacted; and
(c) That the purpose of the call is to solicit the purchase of securities or related services.Incorrect
According to CBOE Rule 9.18. Telemarketing (b) Caller Disclosures. No Trading Permit Holder or associated person shall make an outbound telephone call to any person without disclosing truthfully, promptly and in a clear and conspicuous
manner to the called person the following information:
(a) The identity of the caller and the TPH organization;
(b) The telephone number or address at which the caller may be contacted; and
(c) That the purpose of the call is to solicit the purchase of securities or related services. -
Question 7 of 10
7. Question
What is a person’s interest as the writer of one or more option contracts?
Correct
According to CBOE Rule 1.1 Definition
Short Position
The term “short position” means a person’s interest as the writer of one or more option contracts.long position, equity and multiplier are not in the rule.
Incorrect
According to CBOE Rule 1.1 Definition
Short Position
The term “short position” means a person’s interest as the writer of one or more option contracts.long position, equity and multiplier are not in the rule.
-
Question 8 of 10
8. Question
What term means that all option contracts of the same class that are the same type of option and have the same exercise price and expiration date?
Correct
According to CBOE Rule 1.1 Definition
Series and Series of Options
The terms “series” and “series of options” mean all option contracts of the same class that are the same type of option and have the same exercise price and expiration date. Security, Stock corporation and Stock Option are not in the rule.Incorrect
According to CBOE Rule 1.1 Definition
Series and Series of Options
The terms “series” and “series of options” mean all option contracts of the same class that are the same type of option and have the same exercise price and expiration date. Security, Stock corporation and Stock Option are not in the rule. -
Question 9 of 10
9. Question
What is the Certificate of Incorporation, the By-laws, and the Rules of the Clearing Corporation, and all written interpretations thereof, as they may be in effect from time to time?
Correct
According to CBOE Rule 1.1 Definition Rules of the Clearing Corporation or Rules of OCC
The terms “Rules of the Clearing Corporation” or “Rules of OCC” mean the Certificate of Incorporation, the By-laws, and the Rules of the Clearing Corporation, and all written interpretations thereof, as they may be in effect from time to time.Management-level, Direct Supervision and Restructuring are not in the rule.
Incorrect
According to CBOE Rule 1.1 Definition Rules of the Clearing Corporation or Rules of OCC
The terms “Rules of the Clearing Corporation” or “Rules of OCC” mean the Certificate of Incorporation, the By-laws, and the Rules of the Clearing Corporation, and all written interpretations thereof, as they may be in effect from time to time.Management-level, Direct Supervision and Restructuring are not in the rule.
-
Question 10 of 10
10. Question
Which of the following when conducting the risk analysis of portfolio margin accounts each TPH organization shall include in the written risk analysis methodology required procedures and guidelines?
I. Managing the impact of credit extension on the TPH organization’s overall risk exposure.
II. The appropriate response by management when limits on credit extensions have been exceeded.
III. Previously has stated that he or she does not wish to receive any outbound telephone calls made by or on behalf of the Trading Permit Holder.
IV. The regular review and testing of these risk analysis procedures by an independent unit such as internal audit or other comparable group.Correct
According to CBOE Rule 7.8. Risk Analysis of Portfolio Margin Accounts
(a) In conducting the risk analysis of portfolio margin accounts required by this Rule 7.8, each TPH organization shall include in the written risk analysis methodology required pursuant to paragraph (a) above procedures and guidelines
(b) Managing the impact of credit extension on the TPH organization’s overall risk exposure
(c) The appropriate response by management when limits on credit extensions have been exceededIncorrect
According to CBOE Rule 7.8. Risk Analysis of Portfolio Margin Accounts
(a) In conducting the risk analysis of portfolio margin accounts required by this Rule 7.8, each TPH organization shall include in the written risk analysis methodology required pursuant to paragraph (a) above procedures and guidelines
(b) Managing the impact of credit extension on the TPH organization’s overall risk exposure
(c) The appropriate response by management when limits on credit extensions have been exceeded