FINRA fees paid by a member firm are based on which of the following? correct answers Number of registered representatives employed.Number of branch offices registered with FINRA.
All of the following actions would require amending the Form U-4 EXCEPT
A) change of registration status
B) ch...
S26 Unit 1 || Already Passed.
FINRA fees paid by a member firm are based on which of the following? correct answers
Number of registered representatives employed.Number of branch offices registered with
FINRA.
All of the following actions would require amending the Form U-4 EXCEPT
A) change of registration status
B) change of residence address
C) conviction for failure to file an income tax return
D) change of marital status correct answers D) change of marital status
A member firm files Form U-5 with FINRA for a former employee. Three years later, the
member learns facts that show the information filed to be inaccurate. Under FINRA rules, the
member must file an amended Form U-5 within:
A) 30 days only if the former employee has reassociated with another member.
B) 30 days.
C) 60 days only if the former employee has reassociated with another member.
D) 60 days. correct answers B) 30 days.
A FINRA member may be sanctioned by FINRA for
I) failure to pay dues
II) having any dealings with nonmember firms
III) refusing a reciprocal arrangement with an investment company
IV) violating SEC rules correct answers A) I and IV
I) failure to pay dues
IV) violating SEC rules
A registered principal is leaving Firm A to take a position at Firm B. Regarding Form U-5,
which of the following statements are TRUE?
I) It is prepared by Firm A.
II) It is prepared by Firm B.
III) The firm that prepares it sends a copy to the CRD.
IV) The firm that prepares it sends a copy to the other firm. correct answers C) I and III.
I) It is prepared by Firm A.
III) The firm that prepares it sends a copy to the CRD.
An individual applies for registration with your broker-dealer, and, when reviewing the
applicant's Form U-4, you notice that he was convicted of a felony 7 years ago. Which of the
, following is the CORRECT procedure to follow if the firm wishes to bring the applicant on
board?
A) This candidate is statutorily disqualified and cannot be hired under any circumstances for 10
years after the conviction of a felony
B) Hire the person, but only in an administrative capacity
C) File a Form MC-400 with FINRA's Department of Registration and Disclosure (RAD)
D) Hire the person, and inform FINRA that the individual will be subject to heightened
supervision correct answers C) File a Form MC-400 with FINRA's Department of Registration
and Disclosure (RAD)
All of the following acts could subject an individual to a statutory disqualification EXCEPT
A) denial of registration
B) suspension
C) expulsion
D) censure correct answers D) censure
Changes to which of the following must be amended on Form U-4?
I) Name.
II) Address.
III)Marital status.
IV)College or postgraduate degrees earned. correct answers B) I and II.
I) Name.
II) Address.
The Johnson Equities Fund, a closed-end management company, has completed its initial public
offering, and its stock is now trading in the secondary market. Which of the following licenses
would be required for a representative to trade Johnson Equities shares for clients?
I) Series 7
II)Series 6
III)Series 65
IV) Series 13 correct answers D) I only
Series 7
Which of the following licenses would enable the holder to approve mutual fund advertising?
I) Series 9/10
II) Series 24
III)Series 26
IV) Series 27 correct answers B) II and III
II) Series 24
III)Series 26
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