Series 26: Exercise

Exercise

Answer True or False

1. 1. True or false. A broker or dealer or a general, special or limited partner, director, or officer of a broker dealer are considered customers and do receive customer statements.
2. 2. True or false. When a broker-dealer finds a material weakness in its system, the member firm has 48 hours to file a notification with the SEC and provide a copy to the independent public accountant.
3. 3. True or false. When a broker-dealer is located on bank premises, before a customer account is opened, the broker-dealer must provide written disclosure to each customer that its services are provided by the firm, not the bank.
4. 4. True or false. The Securities Investor Protection Corporation has authority to combat investment fraud.
5. 5. True or false. Broker-dealers are only required to have fidelity bond coverage if they have joined the SIPC.
6. 6. True or false. A member with a net capital requirement