Description
Wiley FINRA Series 10 Exam Review 2017
The General Securities Sales Supervisor Examination -- General Module
Language: English
Subject for Wiley FINRA Series 10 Exam Review 2017 :
360 p. · 21.5x27.7 cm · Paperback
Description
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The go–to guide to acing the Series 10 Exam!
Passing the General Securities Sales Supervisor Exam (Series 9 and 10) qualifies an individual to supervise sales activities in corporate, municipal, and option securities; investment company products; variable contracts; and direct participation programs. The exam covers hiring, qualification, and continuing education; supervision of accounts and sales activities; conduct of associated persons; recordkeeping requirements; and municipal securities regulation. All candidates must have passed the Series 7 Exam before taking the Series 10.
Created by the experts at The Securities Institute of America, Inc., Wiley Series 10 Exam Review 2017 arms you with everything you need to pass this four–hour, 145–question test. Designed to help you build and fine–tune your knowledge of all areas covered in the exam and to guarantee that you′re prepared mentally and strategically to take the test, it provides:
- Dozens of examples
- Assorted practice questions for each subject area covered in the exam
- Priceless test–taking tips and strategies
- Helpful hints on how to study for the test, manage stress, and stay focused
Wiley Series 10 Exam Review 2017 is your ticket to passing the Series 10 test on the first try with flying colors!
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The Securities Institute of America, Inc. helps thousands of securities and insurance professionals build successful careers in the financial services industry every year. Our securities training options include:
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To contact The Securities Institute of America, visit us on the web at or call 877–218–1776.
About This Book xv
About the Test Bank xvii
About the Securities Institute of America xix
Chapter 1 Supervision of Brokerage Office Personnel and Procedures 1
Hiring New Employees 1
Resignation of a Registered Representative 3
Registration Exemptions 4
Foreign Broker Dealers 5
Compensation Paid to Unregistered Persons 5
Retiring Representatives/Continuing Commissions 6
Persons Ineligible to Register 6
Disciplinary Actions Against a Registered Representative 7
Termination for Cause 8
Outside Employment 9
Private Securities Transactions 9
Gift Rule 9
Communications with the Public 10
FINRA Rule 2210 Communications with the Public 11
Broker Dealer Websites 14
Sharing in a Customer s Account 15
Borrowing and Lending Money 15
Order Tickets 16
Executing an Order 16
Becoming a Stockholder 17
Accrued Interest 22
Close Outs 23
Customer Confirmations 23
Rules for Good Delivery 24
Delivery of Round Lots 25
Delivery of Bond Certificates 26
Rejection of Delivery 26
Reclamation 27
Marking to the Market 27
Customer Account Statements 27
Carrying of Customer Accounts 28
Dividend Distribution 29
Proxies 32
Box Counts 32
Missing and Lost Securities 33
The Customer Protection Rule 34
Broker Dealer Books and Records 35
Pretest 41
Chapter 2 General Supervision and Customer Recommendations 45
The Role of the Principal 45
Supervisor Qualifications and Prerequisites 46
Continuing Education 47
Tape Recording Employees 49
Heightened Supervisory Requirements 50
Information Obtained from an Issuer 50
Customer Complaints 50
Mediation 51
Code of Arbitration 52
Investor Information 54
Member Offices 54
Business Continuity Plan 58
Recommendations to Customers 59
Research Reports 68
Recommendations through Social Media 71
Regulation FD (Fair Disclosure) 72
The Insider Trading & Securities Fraud Enforcement Act of 1988 73
Firewall 74
Pretest 75
Chapter 3 Supervision of Customer Accounts 77
Opening a New Account 77
Holding Securities 79
The Depository Trust Company (DTC) 80
Mailing Instructions 81
Types of Accounts 81
Trading Authorization 84
Retirement Plans 88
Accounts for Employees of Other Broker Dealers 101
Numbered Accounts 102
Prime Brokerage Accounts 102
Account Transfers 102
Margin Accounts 104
Special Memorandum Account (SMA) for a Long Margin Account 111
Wrap Accounts 121
Regulation S–P 121
Identity Theft 122
Currency Transactions 123
The Patriot Act 123
Isolated Sales Account 125
Securities Investor Protection Corporation Act of 1970 (SIPC) 125
Health Savings Accounts 126
The Department of Labor Fiduciary Rules 127
The Penny Stock Cold Call Rule 127
Pretest 129
Chapter 4 Sales Supervision of New Issues 133
The Securities Act of 1933 133
Freeriding and Withholding/FINRA Rule 5130 137
Underwriting Corporate Securities 139
Exempt Securities 143
Exempt Transactions 144
Rule 137 Nonparticipants 151
Rule 138 Nonequivalent Securities 151
Rule 139 Issuing Research Reports 151
Rule 415 Shelf Registration 152
Regulation M, Rule 104 153
Underwriting Direct Participation Programs 155
Investment Company Registration 155
Mutual Fund Distribution 156
Pretest 163
Chapter 5 Supervision of the Secondary Market 167
The Securities Exchange Act of 1934 167
Listing Requirements for the NYSE 172
Types of Orders 175
The Exchanges 178
Priority of Exchange Orders 179
Limit Up Limit Down (LULD) 193
The Nasdaq Market 194
Pink OTC Market 205
Trade Reporting and Comparison Service (TRACS) 205
Advanced Computerized Execution System (ACES) 206
The Order Audit Trail System (OATS) 206
Electronic Communication Networks (ECNs) 207
Direct Market Access 208
Rogue Trading Prevention 209
Third Market 209
Nasdaq Market Center for Listed Securities 209
Fourth Market 210
SEC Regulation ATS 210
FINRA 5% Markup Policy 211
Markups and Markdowns When Acting as a Principal 212
Riskless Principal Transactions 213
Proceeds Transactions 213
Dominated and Controlled Markets 213
ACT/TRF Trade Scan 214
Pretest 219
Chapter 6 MSRB Rules and Regulations 223
Municipal Bonds 223
Issuing Municipal Securities 224
Municipal Fund Securities 235
Variable Rate Securities 236
Municipal Bond Trading 236
Recommending Municipal Bonds 242
Municipal Bond Advertising 242
Municipal Bond Insurance 242
Political Contributions 243
Registration Requirements for Municipal Securities Professionals 245
MSRB Overview 246
Pretest 251
Answer KeyS 255
Glossary of Exam Terms 261
Index 327
