In the more than 25 years of helping financial services professionals pass more than 400,000 exams, we have had students tell us every possible scenario dreamed up by test takers who have “heard” stories about how FINRA exams are administered. The top 5 myths and misconceptions are as follows: Myth # 1: If you fail […]
FINRA has enacted rules to ensure that broker-dealers do not execute orders at prices that are not reasonably related to the market price for a security. An Executive Vice President of FINRA’s Market Regulation Department or Transparency Services Department or any officer designated by the Executive Vice President may declare a transaction to be clearly […]
FINRA Rule 3241 is designed to address the potential conflicts of interest that can arise when a registered person is named as a beneficiary, Trustee, or executor of a client’s estate. The intent of this rule is to ensure that registered individuals act appropriately and that the employing member carefully supervises the actions of registered […]
In this article we are going to review a significant amount of information relating to the supervision of retail communications. As you prepare to take your principal level exam, you will want to make sure that you have mastered these topics. This information has been taken directly from our textbooks, video lectures and feedback from […]
For more than 20 years the Securities Institute has been helping people pass the series 24 exam. In this article we are going to provide you with a comprehensive understanding of how the series 24 exam is designed to test your knowledge. We will also provide you with feedback from test-takers who have detailed their […]
In this article we are going to review a number of the different types of CMOs you are likely to be tested on, on your exam. Many FINRA exams have a number of questions relating to collateralized mortgage obligations. Some of the questions will be definitional in nature. Some of the questions will require you […]
More and more questions are popping up on FINRA Exams concerning disqualifying events which prohibit certain bad actors from participating in private placement offerings. With the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, certain “bad actors” are precluded from participating in offerings under Regulation 506. If any covered person has been […]
The SEC requires broker dealers to adhere to strict financial responsibility rules. These rules include the customer protection rule 15c3-3 and the net capital rule 15c3-1. The net capital rules have always been part of the Securities Exchange Act of 1934 and require broker-dealers to maintain a minimum level of financial solvency. The more complex […]
In this article we are going to provide you with a comprehensive review regarding the outside business activities of associated persons and private Securities transactions. Both of these topics are hot buttons for FINRA and are not only widely tested on their exams, but are also closely scrutinized during compliance examinations by FINRA staff members. […]
All broker-dealers must conduct an independent audit of their anti money laundering program prior to the end of each year. To assist you in avoiding common mistakes and oversights that could become comments in your next AML Testing report, please review the following list of common findings identified during AML testing and recommendations on how […]
2024 © Securities Institute, All Rights Reserved.
Privacy Policy | Terms of Service.
