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Series 24 Chapter 1 Question and answers 100% correct 2024/2025 $13.99   Add to cart
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Series 24 Chapter 1 Question and answers 100% correct 2024/2025
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Series 24 Chapter 1 Question and answers 100% correct 2024/2025 Series 24 Chapter 1 Form NMA - correct answer New Member Application filed thru Firm Gateway 180 Day Application Review Period Broker - correct answer Any person engaged in the business of effecting transactions in securiti...

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  • September 28, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • SERIES 24
  • SERIES 24

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Series 24 Chapter 1
Form NMA - correct answer ✔New Member Application filed thru Firm
Gateway
180 Day Application Review Period


Broker - correct answer ✔Any person engaged in the business of effecting
transactions in securities for the account of others


Dealers - correct answer ✔Any person acting on behalf of their own
proprietary trading account


Investment Adviser - correct answer ✔Person who, for compensation,
advised others regarding securities
Do not register with FINRA


Form BD - correct answer ✔Uniform App for BDs to register with SEC,
SROs, states thru CRD
Must update form promptly (no later than 30 days) when
inaccurate/imcomplete or any changes


Form CMA - correct answer ✔Required to be filed if member firm has
change in ownership, control or business operations (including additional lines
of business)
Required by NASD Rule 1017 - filed electronically


NASD Rule 1014 - correct answer ✔Standards for Admission for
Membership (12)

, All applicants, except sole proprietorship, must have at least two officers
qualified to become registered as principals.
General Securities - Series 24
Limited to Invst Co Products - Series 26


New Member Application Process - correct answer ✔File Application with
Department of Member Regulation (DMR) at district office where applicant
has main office;;
Premembership Interview (PMI) takes place after initial review;
DMR issues application decision within 30 days of PMI
FINRA required to conduct an inspection of a newly registered firm within 6
months of registration


Form BR - correct answer ✔Uniform Branch Office Registration Form
Used to Register Branch Office
FINRA must be notified within 30 days, via Form BR, of opening a new branch


Form BRW - correct answer ✔Used when entire firm ceases business or
withdraws registration from SEC, FINRA and states;
Notice of withdrawal generally effective on the 60th day from filing unless SEC
imposes terms and conditions


Office of Supervisory Jurisdiction (OSJ) - correct answer ✔The BD office
responsible for supervising the activities of the register reps and associated
persons in that office and other offices in the region.
Each OSJ required to have at least one resident principal

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