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Question 1 of 10
1. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 20% and high end of range minimum 10% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 20% and high end of range minimum 10% that is calculated in numerical guidelines.
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Question 2 of 10
2. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $5.0000 and up to and including $74.9999 then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $5.0000 and up to and including $74.9999 then the transaction’s % difference from the reference price should be 10% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $5.0000 and up to and including $74.9999 then the transaction’s % difference from the reference price should be 10% that is calculated in numerical guidelines.
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Question 3 of 10
3. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $75.0000 and up to and including $199.9999 then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 10% and high end of range minimum 5% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 10% and high end of range minimum 5% that is calculated in numerical guidelines.
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Question 4 of 10
4. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $200.0000 and up to and including $499.9999 then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $200.0000 and up to and including $499.9999 then the transaction’s % difference from the reference price should be 5% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $200.0000 and up to and including $499.9999 then the transaction’s % difference from the reference price should be 5% that is calculated in numerical guidelines.
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Question 5 of 10
5. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $500.0000 and up to and including $999.9999 then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 5% and high end of range minimum 3% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1.0000 and up to and including $4.9999 then the transaction’s % difference from the reference price should be low end of range minimum 5% and high end of range minimum 3% that is calculated in numerical guidelines.
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Question 6 of 10
6. Question
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1,000.0000 and over then what should be the transaction’s % difference from the reference price that is calculated in numerical guidelines?
Correct
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1,000.0000 and over then the transaction’s % difference from the reference price should be 3% that is calculated in numerical guidelines.
Incorrect
In the FINRA Rule 11893 (Clearly Erroneous Transactions in OTC Equity Securities), if the reference price is $1,000.0000 and over then the transaction’s % difference from the reference price should be 3% that is calculated in numerical guidelines.
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Question 7 of 10
7. Question
In the FINRA Rule 11894 (Review by the Uniform Practice Code (“UPC”) Committee), a written appeal of determination to declare a transaction null and void must receive by FINRA within how much time after the person making the appeal is given the notification of the determination being appealed?
Correct
In the FINRA Rule 11894 (Review by the Uniform Practice Code (“UPC”) Committee), a written appeal of determination to declare a transaction null and void must receive by FINRA within thirty (30) minutes after the person making the appeal is given the notification of the determination being appealed.
Incorrect
In the FINRA Rule 11894 (Review by the Uniform Practice Code (“UPC”) Committee), a written appeal of determination to declare a transaction null and void must receive by FINRA within thirty (30) minutes after the person making the appeal is given the notification of the determination being appealed.
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Question 8 of 10
8. Question
In the FINRA Rule 2231 (Customer Account Statements), at what time each general securities member should send a statement of account (“account statement”) containing a description of any securities positions, money balances, or account activity to each customer whose account had a security position, money balance or account activity during the period since the last such statement was sent to the customer?
Correct
In the FINRA Rule 2231 (Customer Account Statements), Each general securities member shall, with a frequency of not less than once every calendar quarter, send a statement of account (“account statement”) containing a description of any securities positions, money balances, or account activity to each customer whose account had a security position, money balance, or account activity during the period since the last such statement was sent to the customer.
Incorrect
In the FINRA Rule 2231 (Customer Account Statements), Each general securities member shall, with a frequency of not less than once every calendar quarter, send a statement of account (“account statement”) containing a description of any securities positions, money balances, or account activity to each customer whose account had a security position, money balance, or account activity during the period since the last such statement was sent to the customer.
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Question 9 of 10
9. Question
In the FINRA Rule 2231 (Customer Account Statements), which of the following condition quarterly account statements need not be sent to a customer?
Correct
In the FINRA Rule 2231 (Customer Account Statements), quarterly account statements need not be sent to a customer on the following conditions:-
(a) The customer’s account is carried solely for the purpose of execution on a DVP/RVP basis.
(b) All transactions effected for the account are done on a DVP/RVP basis in conformity with Rule 11860.
(c) The account does not show security or money positions at the end of the quarter (provided, however, that positions of a temporary nature, such as those arising from fails to receive or deliver, errors, questioned trades, dividend or bond interest entries and other similar transactions, shall not be deemed security or money positions.
(d) The customer consents to the suspension of such statements in writing. The member must maintain such consents in a manner consistent with Rule 4512 and SEA Rule 17a-4.
(e) The member undertakes to provide any particular statement or statements to the customer promptly upon request.
(f) The member undertakes to promptly reinstate the delivery of such statements to the customer upon request.Incorrect
In the FINRA Rule 2231 (Customer Account Statements), quarterly account statements need not be sent to a customer on the following conditions:-
(a) The customer’s account is carried solely for the purpose of execution on a DVP/RVP basis.
(b) All transactions effected for the account are done on a DVP/RVP basis in conformity with Rule 11860.
(c) The account does not show security or money positions at the end of the quarter (provided, however, that positions of a temporary nature, such as those arising from fails to receive or deliver, errors, questioned trades, dividend or bond interest entries and other similar transactions, shall not be deemed security or money positions.
(d) The customer consents to the suspension of such statements in writing. The member must maintain such consents in a manner consistent with Rule 4512 and SEA Rule 17a-4.
(e) The member undertakes to provide any particular statement or statements to the customer promptly upon request.
(f) The member undertakes to promptly reinstate the delivery of such statements to the customer upon request. -
Question 10 of 10
10. Question
In the FINRA Rule 2231 (Customer Account Statements), at what time following the second anniversary of breaking escrow, the member may include a per share estimated value reflecting the “net investment” disclosed in the issuer’s most recent periodic or current report (“Issuer Report”).
Correct
In the FINRA Rule 2231 (Customer Account Statements), at any time before 150 days following the second anniversary of breaking escrow, the member may include a per share estimated value reflecting the “net investment” disclosed in the issuer’s most recent periodic or current report (“Issuer Report”).
Incorrect
In the FINRA Rule 2231 (Customer Account Statements), at any time before 150 days following the second anniversary of breaking escrow, the member may include a per share estimated value reflecting the “net investment” disclosed in the issuer’s most recent periodic or current report (“Issuer Report”).