Term
| FINRA Assessments based on |
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Definition
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Definition
| number of representatives and branch offices |
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| FINRA Membership may be revoked or suspended if fees are not paid in _______ days. |
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| FINRA Any material change to firm with how many days written notice |
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| FINRA within how many days must firms report representative violations, suspensions and so forth |
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| Statutory Disqualification for 4 things |
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Definition
| Conviction of securities misdemeanor or felon within last 10 years; SEC or SRO suspension or revocation; willful filing of false, misleading or incomplete application; with permission of Member Regulation or the NAC, person can remain associated with the firm |
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Term
| Under what circumstances may a Series 6 representative sell IPOs |
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Definition
| Closed end shares in IPO with prospectus not in secondary market |
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| Series 11 can earn commissions under what circumstances? |
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Definition
| can qualify customers, give quotes, enter orders, cannot solicit or determine suitability, salary only. No commissions allowed!! |
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| Principal Registrations: Series 24 |
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Definition
| Can approve advertising for general securities and munis, can oversee sales, trading, market making investment banking |
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| Principal Registrations: Series 9/10 |
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Definition
| general securities sales supervisor; cannot approve advertising; can oversee sales of options, munis, general securities |
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| Principal Registrations: Series 4 |
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Definition
| supervises otions business; CROP approves communications to public; SROP oversees option business; can be same person if firm has less than $1 million in options commissions or 10 or fewer representatives |
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| Form U-4 does not include |
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Definition
| marital status or education |
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| Form U-5 must be filed within _____ days of termination date |
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| Form U-5: new employer gets copy from one of two places |
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Definition
| FINR or representative. NOT old firm |
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Term
| Rep must provide form U-5 within how many days of request? |
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| Form U-5: changes filed within how many days |
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| Retention of license remain valid if reaffiliated within _______? |
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