Series 79 Financial Industry Regulatory Authority (Finra) Quiz

187 Questions | By Needaquiz | Last updated: Mar 19, 2022 | Total Attempts: 422

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The Financial Industry Regulatory Authority (FINRA) is a body that provides tools, templates and other resources to small firms of not more than 150 representatives to protect investors. Learn more about this body below. All the best.

Questions and Answers

1.

Who are options created by?
- A.
  
  Issuer
- B.
  
  O.C.C
2.

If Disqualified from registration, you can file ______ for a hearing
- A.
  
  14b-9
- B.
  
  Mc-400
- C.
  
  10b-18
- D.
  
  Nyse rule 44
3.

Who needs a series 7 as well as a series 79?
4.

How long does a special inactive last for after discharge?
- A.
  
  120 days
- B.
  
  2 years
- C.
  
  2 years + 90 day grace period
- D.
  
  10 years
5.

After receiving notice, how long do you have to complete your regulatory element?
- A.
  
  180 days
- B.
  
  120 days
- C.
  
  2 years
6.

How often does one take the regulatory element?
- A.
  
  Every 2 years
- B.
  
  2 years after registration, every 3 years after that
- C.
  
  Every 3 years
- D.
  
  3 years after registration, every 2 years after that
7.

Which best describes front running?
- A.
  
  Wash sales
- B.
  
  Trading ahead of client orders
- C.
  
  Pegging
- D.
  
  Capping
8.

When Pegging, you
- A.
  
  Keep the price of a stock from rising
- B.
  
  Keep the price of a stock from falling
9.

When Capping, you
- A.
  
  Keep the price from falling
- B.
  
  Keep the price from rising
10.

A u-5 must be submitted within
- A.
  
  10 days
- B.
  
  20 days
- C.
  
  30 days
11.

How long do you have for the transgression of a felony or misdemeanor?
- A.
  
  180 days
- B.
  
  2 years
- C.
  
  5 years
- D.
  
  10 years
12.

True or false: If you work in public finance, you are considered a RR
- A.
  
  True
- B.
  
  False
13.

True or False: if you work for the DPP you are considered a Registered Rep
- A.
  
  True
- B.
  
  False
14.

What is the waiting period for unsuccessful attempts on the series 79
- A.
  
  30 days after 1st and 2nd attempt 180days every time after
- B.
  
  30 days between each test
- C.
  
  30 days after 1st,2nd and 3rd attempt, 180 days each time after
15.

Which best describes the Securities exchange act of 1934?
- A.
  
  Created by Finra, regulates bonds
- B.
  
  Created by Finra, regulates secondary markets
- C.
  
  Created by SEC, Regulates bonds
- D.
  
  Created by SEC, Regulates secondary market
16.

What are the penalties for an individual who commits a criminal crime and who regulates it?
- A.
  
  Up to $25mm - SEC
- B.
  
  Up to $5m and 20 years in jail regulated by DOJ
- C.
  
  Must give up profits and up to 3 times the profit SEC
- D.
  
  Must give up profits and up to 3 times the profit DOJ
17.

What are the penalties for an individual who commits a civil crime? Who regulates this?
- A.
  
  Give up profits and up to 3 times the amount- SEC
- B.
  
  Give up profits and up to 3 times the amount - DOJ
- C.
  
  Up to $5m and 20 years in jail regulated by DOJ
- D.
  
  Up to $25 regulated by DOJ
18.

What are the penalties for a corporation who commits a criminal crime and who regulates it?
- A.
  
  Give up profits and up to 3 times the amount- SEC
- B.
  
  Give up profits and up to 3 times the amount - DOJ
- C.
  
  Up to $5m and 20 years in jail regulated by DOJ
- D.
  
  Up to $25 regulated by DOJ
19.

A company wants to buy back stocks, what section must he abide by?
- A.
  
  Section 3011
- B.
  
  Section 10b-18
- C.
  
  Section 10b-5
- D.
  
  435(5)
20.

Who files a WSP and how often?
- A.
  
  BOD annually
- B.
  
  BOD quarterly
- C.
  
  CEO annually
- D.
  
  CEO quarterly
21.

A client buys an IPO, they get a prospectus and a confirmation in the mail. Which document does the investment bank keep and how long are they required to keep it?
- A.
  
  Both Documents 2 years
- B.
  
  Confirmation 3 years
- C.
  
  Confirmation 2 years
- D.
  
  Prospectus 3 years
22.

How often is AML Tested?
- A.
  
  Quarterly
- B.
  
  Semi-annually
- C.
  
  Annually
23.

Which best describes OSJ?
- A.
  
  Structures Public Offers
- B.
  
  Signs off on company literature
- C.
  
  Structures private placements
- D.
  
  All of the above
24.

An OSJ, must be supervised by an
- A.
  
  Officer
- B.
  
  Owner of 10% or more
- C.
  
  Principle
- D.
  
  Shareholder
25.

True or False: The Patriot act backs CIP?
- A.
  
  True
- B.
  
  False