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Full Description
The go-to guide to acing the Series 10 Exam! Passing the General Securities Sales Supervisor Qualification 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 2016 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 2016 is your ticket to passing the Series 10 test on the first try with flying colors!
Contents
ABOUT THE SERIES 10 EXAM xi ABOUT THIS BOOK xv ABOUT THE TEST Employees 1 Resignation of a Registered Representative 2 Registration Exemptions 4 Retiring Representatives/Continuing Commissions 4 Persons Ineligible to Register 5 Disciplinary Actions Against a Registered Representative 6 Termination for Cause 6 Outside Employment 6 Private Securities Transactions 7 Gift Rule 7 Communications with the Public 8 FINRA Rule 2210 Communications with the Public 9 Broker Dealer Websites 12 Sharing in a Customer s Account 13 Borrowing and Lending Money 13 Order Tickets 13 Executing an Order 14 Becoming a Stockholder 15 Accrued Interest 20 Close Outs 20 Customer Confi rmations 21 Rules for Good Delivery 22 Delivery of Round Lots 23 Delivery of Bond Certifi cates 24 Rejection of Delivery 24 Reclamation 24 Marking to the Market 25 Customer Account Statements 25 Carrying of Customer Accounts 26 Dividend Distribution 27 Proxies 29 Box Counts 30 Missing and Lost Securities 30 The Customer Protection Rule 32 Broker Dealer Books and Records 33 Pretest 39 CHAPTER 2 GENERAL SUPERVISION AND CUSTOMER RECOMMENDATIONS 43 The Role of the Principal 43 Supervisor Qualifications and Prerequisites 44 Continuing Education 45 Tape Recording Employees 47 Heightened Supervisory Requirements 47 Information Obtained from an Issuer 48 Customer Complaints 48 Mediation 49 Code of Arbitration 50 Investor Information 52 Member Offices 52 Recommendations to Customers 55 Research Reports 65 Recommendations through Social Media 67 Regulation FD (Fair Disclosure) 69 The Insider Trading & Securities Fraud Enforcement Act of ACCOUNTS 73 Opening a New Account 73 Holding Securities 75 The Depository Trust Company (DTC) 76 Mailing Instructions 77 Types of Accounts 77 Trading Authorization 80 Retirement Plans 84 Accounts for Employees of Other Broker Dealers 97 Numbered Accounts 98 Prime Brokerage Accounts 98 Account Transfers 99 Margin Accounts 100 Special Memorandum Account (SMA) for a Long Margin Account 107 Wrap Accounts 117 Regulation S-P 118 Currency Transactions 119 The Patriot Act 119 Isolated Sales Account 121 Securities Investor Protection Corporation Act of 1970 (SIPC) 121 The Penny Stock Cold Call The Securities Act of 1933 129 Freeriding and Withholding/FINRA Rule 5130 132 Underwriting Corporate Securities 134 Exempt Securities 138 Exempt Transactions 139 Rule 137 Nonparticipants 145 Rule 138 Nonequivalent Securities 146 Rule 139 Issuing Research Reports 146 Rule 415 Shelf Registration 147 Regulation M, Rule 104 147 Underwriting Direct Participation Programs 149 Investment Company Registration 149 Mutual Fund Distribution 151 Pretest 157 CHAPTER 1934 161 Listing Requirements for the NYSE 166 Types of Orders 169 The Exchanges 172 Limit Up Limit Down (LULD) 184 The Nasdaq Market 185 Pink OTC Market 196 Trade Reporting and Comparison Service (TRACS) 196 Advanced Computerized Execution System (ACES) 197 The Order Audit Trail System (OATS) 197 Electronic Communication Networks (ECNs) 198 Third Market 199 Nasdaq Market Center for Listed Securities 199 Fourth Market 199 SEC Regulation ATS 200 FINRA 5% Markup Policy 200 Markups and Markdowns When Acting as a Principal 201 Riskless Principal Transactions 202 Proceeds Transactions 203 Dominated and Controlled Markets 203 ACT/TRF Trade Scan 204 Pretest 207 CHAPTER 6 MSRB RULES AND REGULATIONS 211 Municipal Bonds 211 Issuing Municipal Securities 212 Municipal Fund Securities 223 Variable Rate Securities 224 Municipal Bond Trading 224 Recommending Municipal Bonds 230 Municipal Bond Advertising 230 Municipal Bond Insurance 230 Political Contributions 231 Registration Requirements for Municipal Securities Professionals 233 MSRB Overview 234 Pretest
