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Series 24 Question and answers rated A+ 2024/2025 $13.49   Add to cart
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Series 24 Question and answers rated A+ 2024/2025
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Series 24 Question and answers rated A+ 2024/2025 Series 24 - Trading and Mrkt Making Third Market - correct answer Exchange Listed Securities traded OTC ECN - correct answer OTC Alternative Trading System - Member firms that accept orders from institutional customers for execution on...

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  • September 28, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • series 24
  • series 24 question and answers rated a

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  • SERIES 24

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Series 24 - Uniform Practice Code
UPC - correct answer ✔Uniform Practice Code
- Establishes rules for dealer to dealer practices in nonexempt securities


Regular Way Settlement - correct answer ✔Trade date + 3 (T+3)


Cash Settlement - correct answer ✔Same day settlement (before 2:30pm)


Seller's Option - correct answer ✔Seller, for good reason, cannot deliver
securities by the settlement date.
- Earliest seller can make delivery = T+4
- Notice must be given by seller before delivery at least one business day prior
to delivery


Physical delivery of securities made by... - correct answer ✔The seller
- To the office of the buyer
- One the prescrivbed settlement date
- Any expenses are borne by the seller


Clearly Erroneous Trades - correct answer ✔Member notifies Nasdaq
Market Operations within 30 minutes
- Can be appealed to the MORC within 30 minutes


Standard Reclamation Time - correct answer ✔15 days
- If stolen or counterfeit = 30 months

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