Series 24 Question and answers 100% correct 2024/2025
7 views 0 purchase
Course
SERIES 24
Institution
SERIES 24
Series 24 Question and answers 100% correct 2024/2025 series 24 - Chap 10 - NASDAQ & MARKET MAKING, NYSE MARKET & DESIGNATED MARKET MAKER
to be a market maker in a nasdaq security the BD must maintain a file of... - correct answer 1. current information about the compnay - latest annual repor...
Series 24 - Unit 5 - Supervision of
Brokerage Office Operations
The UPC (Uniform Practice Code) of FINRA was created to set rules for
dealer-to-dealer transactions in the ____ market. - correct answer ✔OTC
The UPC Code applies only to _____ securities - correct answer
✔nonexempt
Does not apply to transactions ...
- executed on an exchange floor,
- in exempt securities,
- in redeemable investment company securities such as mutual funds,
- settled outside the U.S.
Settlement Rules...
- Equity,
- Corporates, munis & agencies,
- Treasuries (all maturities),
- Equity options,
- Index options,
- Cash settlement - correct answer ✔- Equity: 3 business days,
- Corporates, etc.: 3 business days,
- Treasuries: next business day,
- Equity options: next business day,
- Index options: next business day,
- Cash settlement: same day (b4 2:30 pm)
, If a member wants to have a trade nullified or adjusted, it must notify Nasdaq
Market Operations within ____ of the execution.
- Initial notification is made to Nasdaq Market Operations.
- Appeals must be made to the Market Operations Review Committee
(MORC)
- the decisions of MORC are final and binding. - correct answer ✔30 minutes
For round lot sales of common stock delivery must be made in denominations
that add up to ___ shares or are divisible by ____ shares. - correct answer
✔100 shares, 100 shares
Ask yourself; can you take the certificates and make stacks of 100 shares? If
the answer is yes, it's good delivery.
Dividends; order of dividend distribution dates is helped by DERP... - correct
answer ✔- D: declaration date,
- E: ex-date,
- R: record date
- P: payment date
DRP - all determined by board of directors
E - determined by FINRA or exchange
For regular way trades, the ex-date is ___ business days ___ to the record
date. - correct answer ✔2, prior
Buy-Ins; if securities not delivered to the buying member on settlement, buyer
may close out the position NO EARLIER THAN... - correct answer ✔3rd
business day following settlement date
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
