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Question 1 of 10
1. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following authority should process and forward promptly all information related to proxy and other issuer related materials regarding security to the beneficial owner if the member carries the account in which the security is held for the beneficial owner?
Correct
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), A member shall process and forward promptly all information as required by this Rule and applicable SEC rules regarding security to the beneficial owner (or the beneficial owner’s designated investment adviser) if the member carries the account in which the security is held for the beneficial owner and the security is registered in a name other than the name of the beneficial owner.
Incorrect
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), A member shall process and forward promptly all information as required by this Rule and applicable SEC rules regarding security to the beneficial owner (or the beneficial owner’s designated investment adviser) if the member carries the account in which the security is held for the beneficial owner and the security is registered in a name other than the name of the beneficial owner.
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Question 2 of 10
2. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following material should be process and forward by a member in connection with equity security?
Correct
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), All annual reports, information statements and other material sent to stockholders that are furnished to the member by the issuer of the securities should be processed and forward by a member in connection with equity security.
Incorrect
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), All annual reports, information statements and other material sent to stockholders that are furnished to the member by the issuer of the securities should be processed and forward by a member in connection with equity security.
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Question 3 of 10
3. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following material information in the form of any communication, document, or collection of documents should be processed and forward by a member in connection with debt security other than municipal security?
Correct
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), the following material information in the form of any communication, document, or collection of documents should be processed and forward by a member in connection with debt security other than municipal security:-
(a) The document was prepared by or on behalf of, the issuer, or was prepared by or on behalf of, the trustee of the specific issue of the security.
(b) The document contains material information about such issues including, but not limited to, notices concerning monetary or technical defaults, financial reports, information statements, and material event notices.Incorrect
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), the following material information in the form of any communication, document, or collection of documents should be processed and forward by a member in connection with debt security other than municipal security:-
(a) The document was prepared by or on behalf of, the issuer, or was prepared by or on behalf of, the trustee of the specific issue of the security.
(b) The document contains material information about such issues including, but not limited to, notices concerning monetary or technical defaults, financial reports, information statements, and material event notices. -
Question 4 of 10
4. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following condition a member may give the proxy to vote any stock registered in its name?
Correct
The member holds such stock as executor, administrator, guardian, trustee, or in a similar representative or fiduciary capacity with authority to vote may give the proxy to vote any stock registered in its name.
Incorrect
The member holds such stock as executor, administrator, guardian, trustee, or in a similar representative or fiduciary capacity with authority to vote may give the proxy to vote any stock registered in its name.
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Question 5 of 10
5. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following is authorized to establish a suggested rate of reimbursement of members for expenses incurred in connection with processing and transmitting the proxy solicitation to the beneficial owners of the securities?
Correct
The Board of Governors for the guidance of members is authorized to establish a suggested rate of reimbursement of members for expenses incurred in connection with processing and transmitting the proxy solicitation to the beneficial owners of the securities pursuant or in processing and transmitting information statements or other material to the beneficial owners of securities pursuant.
Incorrect
The Board of Governors for the guidance of members is authorized to establish a suggested rate of reimbursement of members for expenses incurred in connection with processing and transmitting the proxy solicitation to the beneficial owners of the securities pursuant or in processing and transmitting information statements or other material to the beneficial owners of securities pursuant.
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Question 6 of 10
6. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following processing unit fee should be paid up to 10,000 nominee accounts for each set of proxy material through which the issuer’s securities are beneficially owned?
Correct
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.Incorrect
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts. -
Question 7 of 10
7. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following processing unit fee should be paid for above 10,000 up to 100,000 nominee accounts for each set of proxy material through which the issuer’s securities are beneficially owned?
Correct
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.Incorrect
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts. -
Question 8 of 10
8. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following processing unit fee should be paid for above 100,000 up to 300,000 nominee accounts for each set of proxy material through which the issuer’s securities are beneficially owned?
Correct
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.Incorrect
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts. -
Question 9 of 10
9. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following processing unit fee should be paid for above 300,000 up to 500,000 nominee accounts for each set of proxy material through which the issuer’s securities are beneficially owned?
Correct
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.Incorrect
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts. -
Question 10 of 10
10. Question
In the FINRA Rule 2251 (Processing and Forwarding of Proxy and Other Issuer-Related Materials), which of the following processing unit fee should be paid for above 500,000 nominee accounts for each set of proxy material through which the issuer’s securities are beneficially owned?
Correct
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.Incorrect
For each set of proxy material, i.e., proxy statement, a form of proxy and annual report when processed as a unit, a Processing Unit Fee based on the following schedule according to the number of nominee accounts through which the issuer’s securities are beneficially owned:-
(a) 50 cents for each account up to 10,000 accounts.
(b) 47 cents for each account above 10,000 accounts, up to 100,000 accounts.
(c) 39 cents for each account above 100,000 accounts, up to 300,000 accounts.
(d) 34 cents for each account above 300,000 accounts, up to 500,000 accounts.
(e) 32 cents for each account above 500,000 accounts.