Series 53: Exercise

Exercise

Choose the correct answer

1. 1. Customer trade confirmations must be provided to customers:
2. A. Before the settlement date
3. B. On the trade date
4. C. At or before the settlement date
5. D. One business day after the trade date
6. 2. All of the following are examples of information that must be included in a customer’s written confirmation for a municipal bond transaction except:
7. A. Whether the security has call or put features
8. B. Whether the security has a markup or markdown for principal transactions
9. C. Whether the security is subject to federal taxation or the alternative minimum tax
10. D. Whether the security is in default or is not rated by a registered rating agency

Answers

1. 1. C. Customer trade confirmations must be provided either at or before settlement date, which is also the completion of the transaction.
2. 2. B. A customer trade confirmation must