Series 10 | 1.5

series-10-1-5-1

Exit

Question 1 of 1

Time Left

632395

600

block

Member firms, when organizing a group to underwrite nonexempt securities, may invite non members to [participate in the selling group.

Select the correct answer(s).

(0/0)

Explanation

Only other member firms may participate in a syndicate or selling group for NONEXEMPT securities. However, nonmembers may be part of a syndicate or selling group for EXEMPT securities such as municipal bonds.

632396

600

none

Member firms may charge customers reasonable fees for research.

Select the correct answer(s).

(0/0)

Explanation

Providing research is a service for which member firms cannot charge separately. Charging a fee for research would require the member to register as an investment adviser. Members also may not charge customers for forwarding proxy materials.

631631

600

none

FINRA Rule 3210 addresses APs opening accounts at other member firms.

Select the correct answer(s).

(0/0)

Explanation

EXCEPTION: If AP limits transactions solely to 1940 Investment Company Act products such as unit trusts, variable contract and mutual funds, no notification is required.

632399

600

none

Member firms may use repurchase agreements in connection with U.S. government securities and municipal bonds.

Select the correct answer(s).

(0/0)

Explanation

Repurchase agreements are permitted in cases where the underlying securities are EXEMPT securities. Members are prohibited from using repurchase agreements in connection with NONEXEMPT securities.

631633

600

none

Type of compensation not permitted in soft-dollar arrangements are:

Select the correct answer(s).

(0/0)

632401

600

none

A registered person of a FINRA member firm must provide written notice and receive written consent before receiving compensation from and entity other than the member.

Select the correct answer(s).

(0/0)

Explanation

FINRA rules do not require that the member firm provide written consent; only written notice to the member is required.

631634

600

none

The following activities violate the fair dealing rules:

Select the correct answer(s).

(0/0)

631635

600

none

MSRB Rule G-37 regarding Political Contributions (pay for play rule)

Select the correct answer(s).

(0/0)

632406

600

none

Before participating with a friend in a private securities transaction, a registered representative must provide written notice and receive written consent.

Select the correct answer(s).

(0/0)

Explanation

Unless the transaction is for the benefit of an immediate family member and the registered representative will receive no compensation, written notice to the member firm and the written consent from the firm are required before participation in a private securities transaction.

632407

600

none

Written approval is not required before and AP opens a securities account with another broker-dealer, only notification.

Select the correct answer(s).

(0/0)

Explanation

Written notification and written consent is required before effecting transactions for associated persons.

632408

600

none

Customer complaints involving allegations of theft or forgery must be filed with FINRA on a monthly basis.

Select the correct answer(s).

(0/0)

Explanation

FINRA requires that members immediately report allegations of theft, misappropriations of funds or securities, or forgery.

631191

none

Member firms may only grant concessions, discounts, and other allowances to other members. Nonmember firms, including suspended members, always buy at the public price, never at a discount (treated the same as the general public). EXCEPTION: Foreign nonmember firms that are ineligible for FINRA membership may be granted concessions, discounts or other allowances as long as they agree to abide by FINRA rules.

Select the correct answer(s).

(0/0)

631193

600

none

A registered person may continue to receive commission on business while employed after he leaves the member firm, however there must be a contract to this effect. Heirs may as well, as long as it is in the contract (There is no requirement that members pay continuing commissions.)

Select the correct answer(s).

(0/0)

631195

600

none

When a member has reasonable grounds for concluding that the institution is making independent investment decisions (not depending on the member or others) and is capable of independently evaluating risk, the member's suitability obligation is fulfilled (i.e., the member can make recommendations because the institution is sophisticated enough to determine which recommendations are most appropriate, make sense, or should be rejected).

Series 10 | 1.5

Question 1 of 1

Time Left

Member firms, when organizing a group to underwrite nonexempt securities, may invite non members to [participate in the selling group.

Select the correct answer(s).

(0/0)

Explanation

Member firms may charge customers reasonable fees for research.

Select the correct answer(s).

(0/0)

Explanation

FINRA Rule 3210 addresses APs opening accounts at other member firms.

Select the correct answer(s).

(0/0)

Explanation

Member firms may use repurchase agreements in connection with U.S. government securities and municipal bonds.

Select the correct answer(s).

(0/0)

Explanation

Type of compensation not permitted in soft-dollar arrangements are:

Select the correct answer(s).

(0/0)

A registered person of a FINRA member firm must provide written notice and receive written consent before receiving compensation from and entity other than the member.

Select the correct answer(s).

(0/0)

Explanation

The following activities violate the fair dealing rules:

Select the correct answer(s).

(0/0)

MSRB Rule G-37 regarding Political Contributions (pay for play rule)

Select the correct answer(s).

(0/0)

Before participating with a friend in a private securities transaction, a registered representative must provide written notice and receive written consent.

Select the correct answer(s).

(0/0)

Explanation

Written approval is not required before and AP opens a securities account with another broker-dealer, only notification.

Select the correct answer(s).

(0/0)

Explanation

Customer complaints involving allegations of theft or forgery must be filed with FINRA on a monthly basis.

Select the correct answer(s).

(0/0)

Explanation

Select the correct answer(s).

(0/0)

A registered person may continue to receive commission on business while employed after he leaves the member firm, however there must be a contract to this effect. Heirs may as well, as long as it is in the contract (There is no requirement that members pay continuing commissions.)

Select the correct answer(s).

(0/0)

Select the correct answer(s).

(0/0)

What is a "repurchase agreement"?

Select the correct answer(s).

(0/0)

Results

Correct

0

Incorrect

0

Skipped

0

Overall Percentage

0%

Rate Quiz