General

Question 1

The maximum coverage offered per separate customer under SIPC insurance was set by Congress at

Answer 1

$500,000 for securities and cash combined

Question 2

FDIC insurance covers a customer at a maximum amount of

Answer 2

$250,000

Question 3

The hours of operation of the Chicago Board Options Exchange (CBOE) are:

A. 9:30 a.m. to 4:00 p.m. CT

B. 8:00 a.m. to 8:00 p.m. ET

C. 8:30 a.m. to 3:00 p.m. CT

D. 7:00 a.m. to 7:00 p.m. CT

Answer 3

C.

Question 4

A customer complaint is formally defined as a:

A. Any communication from a customer or a legal representative of a customer regarding misconduct

B. Any written communication from a customer or legal rep of a customer regarding an allegation of a violation of one or more security rules or federal regulations?

C. A written allegation of a violation submitted by a customer

D. None of the above

Answer 4

B.

A written allegation: This is formally known as a complaint

Question 5

A term used, meaning a thinly traded, closely held, low daily volume stocks, where liquidity is not especially present when compared to NYSE and Nasdaq stocks

Answer 5

Pink sheets

The pinks

Pink quotes

Question 6

The Securities & Exchange Commission (SEC) was formed as part of:

A. The Securities Act of 1933

B. The Securities & Exchange Act of 1934

C. The New Deal Legislation

D. None of the above

Answer 6

B.

Remember, this act was formalized after the Great depression of 1933 and responds to shoddy investments that were sold to citizens