Financial Industry Regulatory Authority(FINRA) Q&A Exam Bundle

A client's order was executed outside its limit price. The registered representative (RR) notices the error and adjusts the confirmation to reflect an execution price within the limit price. The RR's actions are: Unacceptable, because changes are not permitted to be made on the confirmation Adv...

wrap account (definition) an account in which one fee (usually 1-3%) is assessed by the broker-dealer for a number of services being provided to cover administrative, portfolio management, and transaction costs; best for a client that intends to trade frequently; offered by a BD but managed by an in...

Declaration Date - Set by the Board od Directors ( BOD) - Date dividend is decalred by BOD Record Date - (set by the BOD) - Owner of stock on Record Date entitled to dividend Payable Date - Set by the (BOD) - Date dividend is paid Ex-Dividend Date STOCKS - Set by Self Regulatory Organi...

FINRA is a(n): self-regulatory organization of securities industry firms FINRA - Financial Industry Regulatory Authority - is the SRO - self-regulatory organization, whose members consist of all registered broker-dealers in the United States. FINRA member firms must be: domestic broker-dealers...

12b-1 Fee a fee that enables the cost of marketing, to all existing fund shareholders. The maximum 12b-1 fee under FINRA rules is .75% of net assets cannot call a fund a no-load if the 12b-1 exceeds .25% of net assets Ask Price - POP Price at which a market maker will sell 100 shares to public...

Stanley is a retired engineer who wants a steady income stream that he can count on. He has a portfolio of investments that range from "Investment grade" To "High Yield" From a quality perspective how does the quality of a bond itself affect the yield that Stanley receives on his investments? Hi...

What factors determine the number of annuity units an investor will receive after annuitizing a variable annuity? 1) The payout option 2) Assumed interest rate (AIR) 3) The annuitant's age 4) The annuitant's gender Who must sign a new account form? The two signatures required on a new accoun...

On the 2-year anniversary of their registration and every 3 years thereafter. When must RRs complete the Regulatory Element of Continuing Education? True True or False: Firm Element Continuing Education requires BDs to update employees on job and product-related subjects. U4 To apply for a sec...

A registered representative making a sales presentation based on performance statements and charts is permitted to make which of the following observations? The fund has had a positive performance in the last few years. An investor is in the annuity stage of a variable annuity purchased 15 years ...