Retention

Question 1

Six year retention

Answer 1

Stock records 
Blotters 
Ledgers
Cus acct records 
(New acct form, margin agreement)
Muni cus complaints

Question 2

5 year retention

Answer 2

SAR and CTR (form 104) filings

Question 3

4 year retention

Answer 3

Customer complaints

Question 4

3 year

Answer 4

Order tickets
Subsidiary ledgers
Trial balances

Question 5

New cash acct form
What signature(s) are required ?

Answer 5

Principal only

Question 6

Employee open an acct with another firm what is needed?

Answer 6

Employer notified in writing, and grant prior approval to open acct
If requested must receive duplicate copies of all acct transactions

Question 7

Regulation S-P

Right to disclose private information about their customers to third party

Answer 7

Provide notice to customer at acct opening

Provide reasonable means for customer to Opt out

Question 8

What type of account does not pass assets to other participants at the death of a participant

Answer 8

Tenants in Common

Question 9

Discretionary acct

Answer 9

Reg rep has authority or POA to make trades from funds in acct without approval from investor

Question 10

Must be verified or determined about a new customer

Answer 10

She is employed by another BD
Appears on list of know it’s suspected terriorists
Citizenship

Question 11

What are two types Joint accts

Answer 11

Tenants in common

Tenants right of survivorship

Question 12

Trusted contact person is an indication of what type of account

Answer 12

Specified adult

Question 13

Info about SIPC including a copy of brochure must be available to customers

Answer 13

At account opening

And annually

Question 14

Which Documents are completed when opening a margin acct

Answer 14

New acct form
Margin agreement
loan consent agreement
Credit disclosure statement

Question 15

To open a margin acct

Answer 15

Customer signature must be obtained on the hypothecation agreement at, or prior to settlement of the first transaction in the account

Question 16

CRS(customer relationship summary)

Answer 16

Must be provided to customers at account opening rules regs of firm and such
Presented on top at account opening and on website

Question 17

CRS form must be provided as early as

Answer 17

Making a reco
Acct opening
Implementation of investment strategy

Question 18

Business continuity plan

Answer 18

Each customer at account opening

Question 19

Finra rule suspects senior citizen is being financially exploited a temporary hold may be placed on disbursements
For how many days

Answer 19

Initial hold 15 days

If still supports it can extend to 10 days

Question 20

Options disclosure document

Must be sent to customer

Answer 20

At it prior to opening account

Question 21

How many days after opening an options account to sign and return

Options agreement

Answer 21

15 days

Question 22

If options agreement not returned within 15 days ?

Answer 22

Only accept orders for closing transactions

Question 23

Approval of new accts for FINRA member firms performed by

Answer 23

Branch Office Manager

Question 24

MSRB rules new accounts approved in writing by

Answer 24

Municipal Securities Principal

Question 25

Opening an account to buy options which signatures are needed on options new account form

Answer 25

Registered options principal (ROP)

Registered rep

Question 26

Joint acct w tenancy in common

Answer 26

A specific percentage ownership is assigned to each party

If one person dies, that’s persons interest goes to beneficiary or estate

Question 27

In which joint account does the taxes get assigned if one dies

Answer 27

Both
Tenants in common
And tenants right of survivorship
Have to pay taxes

Question 28

TOD account

Answer 28

This bypasses probate upon death of the owner

Question 29