Wiley series 24 securities licensing exam review 2019 + test bank. General securities principal examination / ([2019])

• Record Type: Book
• Other Titles: General securities principal examination
• Further Information: Note: The Securities Institute of America, Inc.
• Other Names: Securities Institute of America.
• Contents: ABOUT THE SERIES 24 EXAM xix ABOUT THIS BOOK xxiii ABOUT THE TEST BANK xxiv ABOUT THE SECURITIES INSTITUTE OF AMERICA xxv CHAPTER 1 BROKERAGE OFFICE PROCEDURES 1 Hiring New Employees 1 Resignation of a Registered Representative 2 Registration Exemptions 4 Persons Ineligible to Register 4 Disciplinary Actions against a Registered Representative 5 Termination for Cause 6 Outside Employment 6 Private Securities Transactions 7 Gift Rule 7 Sharing in a Customer’s Account 8 Borrowing and Lending Money 9 Order Tickets 9 Executing an Order 10 Becoming a Stockholder 11 Violation 12 Clearly Erroneous Reports 12 Execution Errors 12 Corporate and Municipal Securities Settlement Options 13 When-Issued Securities 15 Government Securities Settlement Options 15 Accrued Interest 16 Close Outs 17 Customer Confirmations 17 Rules for Good Delivery 19 Rejection of Delivery 20 Delivery of Round Lots 20 Delivery of Bond Certificates 21 Reclamation 21 Marking to the Market 21 Customer Account Statements 22 Carrying of Customer Accounts 22 Dividend Distribution 23 Pretest 27 CHAPTER 2 RECORD KEEPING, FINANCIAL REQUIREMENTS, AND REPORTING 31 Blotters 31 General Ledger 32 Customer Accounts 32 Subsidiary (Secondary) Records 32 Securities Position Book (Ledger) Stock Record 32 Order Tickets 33 Confirmations and Notices 33 Monthly Trial Balances and Net Capital Computations 33 Employment Applications 33 Records Required to Be Maintained for Three Years 33 Records Required to Be Maintained for Six Years 34 Records Required to Be Maintained for the Life of the Firm 34 Requirement to Prepare and Maintain Records under SEC 17a-3 and 17a-4 36 Financial Requirements 37 Aggregate Indebtedness 40 Haircuts 40 Box Counts 42 Missing and Lost Securities 42 The Customer Protection Rule 43 The Early Warning Rule 47 FINRA Financial Requirements 48 Subordinated Loans 49 Temporary Subordination Agreements 50 Calculating Net Capital 51 Fidelity Bonds 51 Pretest 53 CHAPTER 3 ISSUING CORPORATE SECURITIES 59 The Prospectus 60 The Final Prospectus 61 Free Writing Prospectus 61 Providing the Prospectus to Aftermarket Purchasers 62 SEC Disclaimer 62 Misrepresentations 63 Tombstone Ads 63 Free Riding and Withholding/FINRA Rule 5130 64 Underwriting Corporate Securities 65 Types of Underwriting Commitments 66 Types of Offerings 68 Awarding the Issue 68 The Underwriting Syndicate 69 Selling Group 69 Underwriter’s Compensation 69 Underwriting Spread 70 Factors That Determine the Size of the Underwriting Spread 71 Review of Underwriting Agreements by FINRA 71 Underwriter’s Compensation 71 Unreasonable Compensation 72 Offering of Securities by FINRA Members 73 Exempt Securities 74 Exempt Transactions 75 Crowdfunding 81 Rule 147 Intrastate Offering 82 Rule 137 Nonparticipants 83 Rule 138 Nonequivalent Securities 83 Rule 139 Issuing Research Reports 83 Rule 415 Shelf Registration 84 Securities Offering Reform Rules 85 SEC Rule 405 85 Additional Communication Rules 86 DPP Roll-Up Transactions 87 Pretest 89 CHAPTER 4 TRADING SECURITIES 93 Types of Orders 93 The Exchanges 97 Priority of Exchange Orders 98 The Role of the Designated Market Maker 98 Crossing Stock 101 Do Not Reduce (DNR) 101 Adjustments for Stock Splits 102 Stopping Stock 103 Commission House Broker 104 Two-Dollar Broker 104 Registered Traders 104 Super Display Book (SDBK) 104 Short Sales 105 Affirmative Determination 105 Regulation SHO 106 Rule 200 Definitions and Order Marking 106 Rule 203 Security Borrowing and Delivery Requirements 107 Threshold Securities 108 Block Trades 109 Trading Along 110 Circuit Breakers 110 Limit up Limit down (LULD) 111 Listing Requirements for the NYSE 111 Reading the Consolidated Tape 112 Exchange Qualifiers 114 Over-the-Counter/Nasdaq 114 High Frequency and Algorithmic Trading 125 Market Centers 127 SEC Regulation NMS 128 SEC Regulation ATS 128 Direct Market Access 129 Nasdaq International 131 Non-Nasdaq OTCBB 131 Pink OTC Market 132 Third Market 132 Nasdaq Market Center for Listed Securities 132 Fourth Market 133 Nasdaq Listing Standards 133 Market Maker Regulations and Responsibilities 134 Times for Entering a Quote 134 Withdrawing Quotes 137 Handling and Displaying Customer Limit Orders 138 The Order Audit Trail System (OATS) 140 The Manning Rule 141 Automated Confi rmation System (ACT)/Trade Reporting Facility (TRF) 141 ACT Trade Scan 142 Nasdaq Trade Reporting Facility (TRF) 142 Step Out Trades 146 Market Making During Syndication 147 Regulation M, Rule 101 147 Penalty Bids 148 Regulation M, Rule 102 148 Regulation M, Rule 103 148 Passive Market Makers’ Daily Purchase Limit 149 Regulation M, Rule 104 149 Syndicate Short Positions 151 Regulation M, Rule 105 151 Trade Reporting and Compliance Engine (TRACE) 151 Broker vs. Dealer 154 FINRA 5 Percent Markup Policy 154 Markups/Markdowns When Acting as a Principal 155 Riskless Principal Transactions 156 Proceeds Transactions 157 Dominated and Controlled Markets 157 Net Transactions with Customers 158 Firm Quote Rule 158 The Firm Quote Compliance System (FQCS) 159 Trade Complaints between Members 159 Rogue Trading Prevention 160 Arbitrage 160 Pretest 163 CHAPTER 5 RECOMMENDATIONS TO CUSTOMERS 169 Investment Objectives 170 Capital Asset Pricing Model (CAPM) 172 Risk vs. Reward 172 Alpha 174 Beta 175 Developing the Client Profi le 175 Suitability Standards 176 Professional Conduct when Making Recommendations 177 Recommending Mutual Funds 178 Periodic Payment Plans 179 Mutual Fund Current Yield 179 Fair Dealings with Customers 179 Recommendations to an Institutional Customer 183 Short Sales in Connection with Recommendations 184 Issuing Research Reports 184 Regulation FD 187 Recommendations through Social Media 187 Pretest 191 CHAPTER 6 GENERAL SUPERVISION 195 The Role of the Principal 195 Supervisor Qualifications and Prerequisites 196 Continuing Education 197 Tape Recording Employees 199 Heightened Supervisory Requirements 199 Information Obtained from an Issuer 200 Customer Complaints 200 Investor Information 201 Member Offices 201 Annual Compliance
• Publisher Details: Hoboken, New Jersey : John Wiley and Sons, Inc
• Publication Date: 2019
• Extent: 1 online resource
• Subjects: 332.63/2; Stockbrokers -- United States -- Examinations -- Study guides; Securities -- United States -- Examinations -- Study guides; BUSINESS & ECONOMICS / Finance; Electronic books
• Languages: English
• ISBNs: 9781119554028; 1119554020
• Related ISBNs: 9781119554004
• Notes: Note: Online resource; title from PDF title page (EBSCO, viewed December 28, 2018).
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.