If a customer wishes to open a cash account, this person must sign the new account form?
What is a principal?
100
FINRA rules prohibit members from favoring the sale of shares of any investment company on the basis of this.
What are brokerage commissions received or expected to be received?
100
In this account, securities pass to the deceased owner's estate.
What is a TIC account?
100
As a result of a complaint brought by the Department of Enforcement, FINRA may do this.
What is suspend a member?
100
Members and associated persons must submit disputes to this. Customers are subject to this only if they agree to submit to this, also considered binding on all parties involved, with no right of appeal.
What is code of arbitration?
200
Upon opening an account foreign customers must sign this form.
What is the Form W-8?
200
This is excessive trading for a particular customer's circumstances or exceeding what would normally be considered suitable. This is equally true for both discretionary and nondiscretionary accounts.
What is churning?
200
In this type of account a representative has been given authority to select the amount and type of investment transactions for a client; the authorization must be in writing.
What is A discretionary account?
200
Under the Code of Procedure, the maximum fine for a minor rule violation (MRV) is this.
What is $2,500?
200
Under the Code of Arbitration Procedure, a dispute or claim is eligible for submission to arbitration up to --- after the date of the dispute's occurrence.
What is 6 years?
300
Mail may be held for a customer for this long if he is traveling domestically and this long if he is traveling abroad.
What is two months and three months?
300
In this a customer unknowingly buys investment company shares in an amount just under a dollar bracket that would qualify for reduced sales charges. As a result, the registered representative receives a somewhat higher commission but the customer pays higher sales charges, reducing the number of shares purchased and resulting in a higher cost per share.
What is a breakpoint sale?
300
In this account all distributions must be made payable to all parties and all parties can trade in joint accounts
What is a joint account?
300
The Department of Enforcement is an arm of this.
What is FINRA?
300
All awards through Code of Arbitration Procedure must be made in writing and rendered to the claimant within this amount of time.
What is 30 days?
400
One of these are required to establish the identity of a new customer.
What is an unexpired driver's license or valid (i.e. unexpired) passport, or certain government employee identification forms?
400
The Conduct Rules prohibit gifts exceeding this value between a mutual fund underwriter and a dealer or person associated with a member. The gift limit does not apply to occasional dinners or occasional tickets to events, seminars, meals, or receptions held in connection with a sales meeting. Season tickets to events are considered violations of this rule.
What is $100 in value?
400
States that all gifts to minors are irrevocable.
What is the Uniform Transfer to Minors Act?
400
After receiving a complaint from the Department of Enforcement, a registered representative must file an answer within this time frame.
What is 25 days?
400
Handles first appeals regarding decisions made by the panel hearing the case.
What is The National Adjudicatory Council?
500
When opening a new account, the registered representative normally would obtain this information about the customer.
What is customer's occupation, financial condition, investment objectives, and other relevant personal information.
500
Encouraging a customer to buy a mutual fund immediately at this time is prohibited.
What is before the ex-dividend date?
500
A trustee (the legal position of the custodian) may delegate investment functions to another party as long as the trustee exercises reasonable care, skill and caution to determine that the delegated person is qualified to perform those duties.
What is the Uniform Prudent Investors Act of 1994?
500
This entity has the authority to issue complaints under the Code of Procedure.
What is the Department of Enforcement?
500
If this takes place and is not successful, the dispute moves on to arbitration.