The top terms you must know to pass the series 3 exam In this article we are going to provide you with a comprehensive overview of the series 3 exam, along with many of the top terms and concepts you need to know to successfully pass your exam The series 3 exam is unique from […]
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 […]
In this article we are going to take a look at the mutual fund prospectus. We will review all of the information you need to know about the use and content of a mutual fund prospectus. This information is critical to passing your exam. What is a mutual Fund Prospectus? The mutual fund prospectus is […]
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 […]
In our previous article we reviewed the three ways for purchasing an annuity contract. Let’s move forward here, and get a little bit more detailed about some of the specifics regarding the operation of the annuity’s separate account. When an investor contributes money into a variable annuity product, that money goes into the separate account […]
In this article we are going to examine the use of social media and its impact on investment advisors and their representatives. Additionally, we will explore best practices for investment advisors to disclose potential conflicts of interest and to manage their fiduciary duty to the client. LinkedIn, this feature is almost impossible to ignore. Why […]
In this article we are going to review what you need to know about variable annuities to pass your FINRA exam. An annuity is a contract between an individual and an insurance company. Once the contract is entered into, the individual becomes known as the annuitant. There are several different types of annuity contracts that […]
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