Series 24: Chapter 2 Practice Questions

Taken from our Series 24 Online Guide

Chapter 2 Practice Questions

  1. 1. Which of the following can occur only in an Office of Supervisory Jurisdiction?
  2. A. Creation of sales literature
  3. B. Solicitation of customer orders
  4. C. Initial completion of client paperwork
  5. D. Order execution
  6. 2. Swatham Industries has just been put on notice that it has too many personnel (10) who have recently been associated with disciplined firms. Swatham, an employer of 30 people in all, wants to opt out. How many employees in question must Swatham fire and how quickly in order to get back below the threshold and avoid having to operate by the taping rule?
  7. A. Four; 30 days
  8. B. Four; 60 days
  9. C. Six; 30 days
  10. D. Six; 60 days
  11. 3. Which of the following records must always be kept in writing at each Office of Supervisory Jurisdiction?
  12. A. A list of all prospects contacted by phone within the last 30 days
  13. B. Written supervisory procedures
  14. C. Copy of the FTC’s National Do Not Call Registry
  15. D. Copy of every registered representative’s fingerprints
  16. 4. A registered principal is conducting his firm’s annual internal inspection at its OSJs. What are his responsibilities with respect to this written report?
  17. I. To review customer account records for irregularities and abuses
  18. II. To test policies and procedures for safeguarding customer accounts
  19. III. To evaluate supervision of customer accounts serviced by branch office managers
  20. A. II only
  21. B. III only
  22. C. I and II
  23. D. I, II, and III
  24. 5. For representatives whose telemarketing activities are subject to the tape-recording rule, when must the reports reviewing those taped conversations be submitted to FINRA?
  25. A. Twice a year
  26. B. Within 30 days of the end of each calendar quarter
  27. C. Within 30 days of the end of each month being monitored
  28. D. At the close of each quarter
  29. 6.&

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