Form u4 Study guides, Class notes & Summaries

On the 2-year anniversary of their registration and every 3 years thereafter. - correct answerWhen must RRs complete the Regulatory Element of Continuing Education? True - correct answerTrue or False: Firm Element Continuing Education requires BDs to update employees on job and product-related subjects. U4 - correct answerTo apply for a securities license, one must file Form _____ with FINRA. Action (buy/sell), Amount (quantity), and Asset (security) - correct answerWhat three items mus...

CFP Exam 2024 | 665 QUESTIONS| WITH COMPLETE SOLUTIONS GRADED A+. CFP Standards of Conduct Sections (6) Correct Answer: A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct Correct Answer: Duties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Dis...

FINRA and SEC Registration correct answers A broker-dealer must register with FINRA and the SEC to lawfully conduct securities businesses. Not an endorsement, and to suggest registration is an edorsement is considered fraudulent and deceptive Trust Indenture Act correct answers Cannot mandate that a trustee repay all creditors in full in an event of default because this is not feasible Cross-default Clause correct answers triggers a debt default if the issuer defaults on any of its other d...

Which of the following statements is true regarding the concept of an annuity contract? a) Payouts of an investment in a nonqualified annuity are all income tax-free b) The kind of annuity selected partly determines the payment amounts to the annuitant c) In the case of life annuity contracts, the age and sex of the annuitant do not affect the payment amounts d) The amounts of the periodic payments to the annuitant are determined by the performance of the insurance company's investment re...

Securities Industry Essentials Exam 2 | With Questions & Answers (Rated A+) Securities Industry Essentials Exam 2 | With Questions & Answers (Rated A+) When a broker-dealer charges a commission on a securities transaction, it has acted as - ANSWER - an agent Under FINRA rules, non-cash compensation connected with the sale of variable contracts doesn't include - ANSWER - commissions A registered representative discussing a 529 college savings plan should explain _________ to the custom...

What is the U.S. Government agency that has enforcement authority over the U.S. securities markets? - SEC Both FINRA and the Securities and Exchange Commission (SEC) regulate and have enforcement capability over the U.S. securities markets and market participants. However, the SEC is a government agency, while FINRA is an SRO - a self-regulatory organization under SEC oversight. The Municipal Securities Rulemaking Board is another SRO that creates rules for municipal market participants, b...

On the 2-year anniversary of their registration and every 3 years thereafter. When must RRs complete the Regulatory Element of Continuing Education? True True or False: Firm Element Continuing Education requires BDs to update employees on job and product-related subjects. U4 To apply for a securities license, one must file Form _____ with FINRA. Action (buy/sell), Amount (quantity), and Asset (security) What three items must be specified on a not held order A not held order will be c...

CFP Exam 2024 | 665 QUESTIONS| WITH COMPLETE SOLUTIONS GRADED A+. CFP Standards of Conduct Sections (6) Correct Answer: A. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct Correct Answer: Duties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Dis...

A registered representative is moving to a new broker-dealer. If her customers have filled out the transfer request forms, the following is true: correct answers The carrying firm is permitted to contact the customer If a customer is required to take a RMD from his IRA, what are the requirements surrounding this client's distribution obligation? correct answers The distribution must be made by April 1 in the year AFTER the client turns 72 and the customer is permitted to remove cash or secur...

SIE Practice Exam (Answered 2022) Graded A+ UPDATED 2024 Which of the following statements is true regarding the concept of an annuity contract? a) Payouts of an investment in a nonqualified annuity are all income tax-free b) The kind of annuity selected partly determines the payment amounts to the annuitant c) In the case of life annuity contracts, the age and sex of the annuitant do not affect the payment amounts d) The amounts of the periodic payments to the annuitant are determine...