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Worksheets4.02 Financial Planning 2022
Total questions: 10
Worksheet time: 5mins
Violators of the SEC rules of the Securities Exchange Act of 1934 are subject to criminal penalties. The maximum penalty for an individual is:
$100,000
$500,000
$1,000,000, imprisonment for 5 years, or both
$1,000,000, imprisonment for 10 years, or both
If an investor requests additional information about a trade confirmation that he/she received, the requested information must be furnished to him/her within:
thirty days of the request
five business days of the request
five business days after the data of the transaction
fifteen business days after the date of the transaction
During a sales meeting with a customer, a registered representative states that he is so confident about the investment he will reimburse the customer for any losses. This arrangement is:
one year
three years
five years
indefinitely
The maximum penalty that can be imposed on a business entity for false or misleading information on any SEC report or application is:
$1,000
$100,000
$200,000
$250,000
A firm that is required to start tape recording their telemarketing activities must continue to do so for what period of time?
1 year
3 years
5 years
indefinitely
A private securities transaction exists when a representative:
has a joint account with a family member
makes a trade from his personal account
is engaged with an outside business
is selling away
Which individuals are required to register with FINRA?
those who are associated with a member and are to function as Assistant Representatives-Order Processing
those who are not actively engaged in the investment banking or securities business
those who impact securities transactions only on the floor of an exchange
those whose sole functions are limited to clerical duties
The Sarbanes-Oxley Act of 2002 is legislation that was passed in response to:
tax settlements
collection activities
investment options
accounting scandals
One of the main provisions of the Gramm-Leach-Bliley Act requires financial institutions to:
protect the privacy of consumer personal monetary information
provide consumers with information about their credit rating
offer credit to any individual who is currently employed
assist individuals who have had their identity stolen
Where was Mrs. Massengill born?
North Carolina
Alabama
Michigan
Georgia
