Final 6 Flashcards
Can examinations given by the administrator be witten or oral?
both
What is the time frame for exercising a right of rescission?
30 days
For taking custody considerations is it 3 business days or 3 calendar days?
3 business dasy
Does the advisor have to notify the administrator that he will take custody of customer securities?
yes
When does NASAA require the margin document to be signed and returned?
promptly after initial transaction
Do states limit contributions to 529 plans? Does the Fed government?
Yes; No
how long does NASAA reguire advertisement records be kept?
5 years
Are trustees considered to have custody of client funds?
Yes
Is preferred stock affected by interest rate risk?
Yes
Are exempt securities subject to the Uniform Securities Act advertising filing requirements?
No
How do states treat private placements different than the feds?
State - no commission, no more than 10, no advertisign
Fed - yes commission, max 35 accreddited investors, no advertising
What form must be filed with SEC to claim a private placement exemption?
Form D`
If an agent withdraws their registration, how long does administtrator keep jurisdiction?
1 year
Are securities attorneys required to register under the act of 1934?
no
