Not binding if either party contests the decision
Binding upon all parties to the arbitration
Not binding if both parties agree not to accept the decision
The registered representative is fined
The registered representative is sentenced to two years in prison
The registered representative settles the complaint agreeing to a censure
The registered representative is suspended from associating with a member firm for 90 days and appeals the decision
Press civil charges in regard to violations of securities law
Press criminal charges in regard to violations of securities law
Promote fair and equitable trading practices
Insure the solvency of broker-dealers and other market participants
Accountants and lawyers who provide advice in a manner incidental to their profession
Broker-dealers and their representatives
All of the above
Disputes between members must go to arbitration
Decisions may be appealed to FINRA
Decisions are binding
A customer having a dispute with a broker-dealer may use the arbitration procedure
The rep will be placed in inactive status.
The broker-dealer must request an extension from an SRO.
The rep will be suspended.
The rep has 30 days to complete the requirement.
A federal court
The National Adjudicatory Council
An arbitration panel
Part-time employment as a bartender
Participation as a silent partner in a relative's business
Acting as the manager of a sporting goods store on the weekends
Operating an Internet business from home as a sole proprietor
Subject to the antifraud provisions of the Act
Only subject to the antifraud provisions of the Act if they maintain custody of client funds and securities
Only subject to the antifraud provisions of the Act if they do not meet certain experience and financial requirements
Not subject to the antifraud provisions of the Act
A majority of the arbitration panel must come from outside the securities industry.
A majority of the arbitration panel will come from within the securities industry.
All arbitrators must come from inside the securities industry or must be attorneys.
All arbitrators must come from outside the securities industry.
The National Adjudicatory Council
A federal appeals court
There is no appeal allowed
A personal, joint, and IRA account with one account number
A managed account in which advisory and transaction charges are included in one comprehensive fee
A consolidated account in which the investor can buy or sell options, equities, or bonds
An investment club account with no more than 99 investors
Partnership account signed by a general partner
Corporate account signed by an authorized officer
Custodial account signed by the custodian
Executor signing for an estate
When the custodian releases the account
When the donor approves the transaction
When the minor reaches the age of majority
At the time of the execution of the order
Buy or sell securities in the account without consulting the customer
Withdraw money from the account
Receive a fee for using his discretion in trading the account
Borrow assets from the customer's account
The broker can buy the stock for the customer with approval from a manager.
The broker can buy the stock for the customer since it is a stock the firm recommends.
The broker can buy the stock for the customer provided that the broker has first obtained a written power of attorney from the customer.
The broker can buy the stock for the customer based on the verbal authorization.
One of the brothers
A majority of the brothers
All of the brothers
The Options Clearing Corporation
John and Mary Doe
All discretionary orders must be marked as a discretionary order
Written power of attorney must be on file
Orders must be verbally approved by the customer prior to execution
Orders must not be excessive in terms of size or frequency
The brother with the larger contribution to the account
The brother with the smaller contribution to the account
Must register the securities in the guardian's name
May give the securities without the permission of the guardian
May give the securities only if they would qualify under the State's legal list requirements
May give the securities only if the guardian is also appointed the custodian
Cannot accept the order because the wife does not have trading authorization to enter orders for the husband's personal account
Can enter the order because the husband had previously mentioned he would like to establish a position in XYZ
Can enter the order in the husband's account if the wife also has a joint account with her husband
Cannot enter the order because the earnings report has not been released
A custodian for a minor
Here's an interesting quiz for you.