Security Exam Chapter 17

True or False: The acceptance of customer orders must be done by a registered employee.

• True

• False

True or False: Firms are responsible for investigating the qualifications and experience of applicants for registration.

• True. Firms must search "reasonably available public records" to verify the accuracy of Form U4 information.

• False

True or False: Only registered personnel are required to be fingerprinted.

• True

• False. Any individual handling funds or securities are required to be fingerprinted.

True or False: CRD provides a process for filing registration and withdrawal applications for individuals and BDs.

• True

• False

True or False: An RR who served in the military must retake the Series 7 when he rejoins his broker-dealer.

• True

• False. An RR who served in the military is put into special inactive status and is not require to retest.

True or False: All employees of a BD are required to be fingerprinted.

• True

• False. Clerical employees are not fingerprinted if they do not handle customer accounts, assets, or books and records.

True or False: It is acceptable to disclose the content of a qualifying exam to a co-worker.

• True

• False. The content of the exam is confidential.

True or False: A registered person with no disciplinary actions for 15 years is excused from the Regulatory Element.

• True

• False. The Regulatory Element of Continuing Education is an ongoing process with no graduation from the plan.

Firm Element continuing education is subject to _________ to show completion, but not ____________ with FINRA.

(a)  

Registration status becomes (a)   if the Regulatory Element of CE is not completed within the prescribed period.