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Series 24 Question and answers correctly solved 2024/2025
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Series 24 Question and answers correctly solved 2024/2025 Series 24- Regulations Regulation SHO - correct answer Regulates the practice of selling short. The order tickets must be marked long or short and there must be a locate if short sale. Defines a threshold security as a fail to deliver ...

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  • September 28, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • series 24
  • series 24 question and answers correctly solved 20

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Series 24- Regulations
Regulation SHO - correct answer ✔Regulates the practice of selling short.
The order tickets must be marked long or short and there must be a locate if
short sale. Defines a threshold security as a fail to deliver that has existed for
5 consecutive days. Firms must close out the fail on the 14th business day.
Short positions must be reported to FINRA twice a month.


Regulation M - correct answer ✔created to prohibit manipulative conduct by
people that have an interest in the outcome of an offering. Sets a restricted
periods for IPOs (1 day prior to pricing or 5 days prior to pricing). Also sets a
daily purchase limit for passive market makers (greater of 30% ADTV or 200
shares).


Regulation A+ - correct answer ✔Two tiers of public offerings where offering
circulars must be provided. Tier 1= max of $20 million in 12 months where 6
million are sold by existing shareholders. Tier = max $50 million and 15 can
be sold by existing shareholders.


Rule 147 - correct answer ✔Intrastate offerings are exempt from registering
if satisfy 1 of the 80% "doing business requirements." Resales to people
outside the state are restricted for 6 months.


Regulation D - correct answer ✔Private Placements. Rule 504 is that the
maximum offering of $5 million can have an unlimited number of investors.
Rule 506 is that the maximum size is unlimited, but only 35 unaccredited
investors.


Rule 144 - correct answer ✔Sale of Restricted and Control Stock. Restricted
stock= 6 month holding period. Maximum sale allowed is the greater of 1%
outstanding shares or 4 week average trading volume.

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