Treasury Notes, bonds, Bills settle?
T+1
How long do you have to get additional info to FINRA once asked for it?
60 days
Investment co, DPP, and CMO retail communication is must be filed...
within 10 business days of first use
bond mutual funds w/ ratings, iCompanies with ratings, or futures must be filed....
within 10 business days PRIOR to first use
immediate or cancel is the only one type of order that can be
partial
ledgers are per
account
taping Rule
fewer than 20%- within 30 days of notice
Debentures
unsecured, 2-5 yrs,bonds
Banker's Acceptance, repurchase agreements, commercial papers
all ST./money market
WHEN dealing with spreads, narrow is??
GOOODDD
nominal yields are firm or just an estimate
estimate
when U5 is requested you have....
2 business days
NASDAQ and OTC markets are on
OATS
Theft complaints must be disclosed within
30 DAYS
In response to a formal complaint under the code of procedure, a defendant associate has to respond within
25 DAYS
IRS Code 72t
Avoid 10% penalty by taking small withdrawals over 5 or more years
Efficient Market Hypothesis (EMH)
argument that stocks are always priced about right, and that bargains are hard to find because they are closely watched by so many investors
Strong form EMH
ALL INFO is reflected in pricing
semi-strong form efficiency
Market prices reflect all publicly available information NOT PRIVATE
weak form efficiency
prices reflect all past market information such as price and volume NOT predictable by analyzing current financials
The registrar is responsible for
Overseeing/auditing the transfer agent
Which act dealt with registration?
1933
When a customer complaint is made against a registered employee, the employee and the firm must:
Update the employee's Form U4 no later than 30 days after receiving the complaint
When a member firm terminates one of its registered employees, how long does it have to file a Form U5 with FINRA?
Within 30 days of termination
Member firms may pay compensation, fees or commissions to non-registered broker-dealers if the non-registered member deals only in:
Government securities
Eurobond
issued in a currency other than the currency of the country or market of issue
Eurodollar bond
a dollar-denominated bond issued by a foreign company and held in a bank in a country besides the US and the issuer's home country
Yankee bond
A bond denominated in U.S. dollars and issued in the United States by foreign banks and corporations is a
Which type of comminications do not need to be filed with FINRA
Institutional
statute of limitations for inside trading
5 years
The Securities Exchange Act of 1934 primarily regulates:
SEC, trading "The second of the Securities Acts covers securities trading in secondary markets.
quick ratio
(Current Assets - Inventory) / Current Liabilities
Diagonal Spread
An option spread position in which both the expiration dates and strike prices of the options are different
What is the deadline for filing the Form D for a Regulation D offering?
15 calendar days after the first sale
According to Rule 204, when must a close-out occur if there is a fail to deliver on a short sale of an equity security?
T + 3
Retail communications are defined as any written or electronic communication that will be made available to:
More than 25 retail investors within 30 calendar days
If an issuer of securities intentionally discloses material, nonpublic information to a broker-dealer, it must publicly disclose the same information:
Simultaneously to the public
Trust Indenture Act of 1939
associated with the issuance of corporate debt
Smith & Smith is in the process of registering as a broker-dealer. The firm has just submitted its registration documentation to the SEC. How long does the SEC have to respond by granting the registration or instituting proceedings to determine if the reg
45 days
Richard is a registered representative who wants to spend as much time as possible working from his summer home in Maui. How long can Richard work at his vacation home without it being considered a branch office?
Less than 30 days
A broker-dealer executes a sell order for a customer. Ten business days after the settlement date, the customer has not made delivery of the securities to the broker-dealer. What actions must the broker-dealer take?
buy-in the customer's short position
A respondent in a FINRA disciplinary hearing appeals the Hearing Panel's decision within 25 days after it is made. A subcommittee of the National Adjudicatory Council then hears the appeal and makes a recommendation to the NAC. It recommends that the deci
The Board of Governors is automatically given an opportunity to review the NAC's decision
How long after the closing of a customer's account must a broker-dealer preserve records which relate to the terms and conditions with respect to the opening and maintenance of the account?
six years
If a firm discovers information about a former associated person that belongs on the associated person's Form U5, which of the following is true?
The form needs to be amended within 30 days of discovery
The type of bonds that are backed by the full faith and credit of the federal government are considered:
US government bonds
The two steps of the account transfer process are:
Validation and execution
What are the two main types of risk:
diversifiable and nondiversifiable
How long after the closing of a customer's account must a broker-dealer preserve records which relate to the terms and conditions with respect to the opening and maintenance of the account?
six years
If a firm discovers information about a former associated person that belongs on the associated person's Form U5
The form needs to be amended within 30 days of discovery
Auction rate securities (ARS), variable rate demand obligations (VRDOs) and limited tax general obligation (LTGO) bonds are all
issued by a municipality